Habco Trans Maritima (HATM) Revenue Grows 55% to IDR 575.67 Billion in 2023

March 01, 2024, 03.05 AM | Reporter: Vina Elvira

ILUSTRASI. Responding to a request from one of the main clients of PT Habco Trans Maritima Tbk. (HATM), PT Dwi Guna Laksana Tbk. (?DWGL?) and HATM have signed a transportation contract effective as of January 2023 to run for the next 3 years.

CORPORATE STRATEGIC - JAKARTA. The shipping issuer, PT Habco Trans Maritima Tbk (HATM) recorded a revenue growth of 55.03% year on year (yoy) to IDR 575.67 billion throughout 2023.

Quoting the company's financial report, HATM recorded a revenue increase of up to 55.03% yoy, from originally IDR 371.32 billion in 2022, to IDR 575.67 billion in 2023.

The revenue during 2023 was supported by transportation which reached IDR 566.54 billion. Then followed by demurrage worth IDR 9.13 billion.

The increase in revenue also drove the increase in HATM's cost of revenue during 2023 which rose 61.64% to IDR 338.72 billion, from previously recorded at IDR 209.54 billion.

As a result, HATM's gross profit was recorded at IDR 236.95 billion throughout 2023, up 46% compared to the previous year which was IDR 161.77 billion.

At the same time, operating expenses consisting of general and administrative expenses were recorded to increase, from previously IDR 17.54 billion in 2022, to IDR 27.54 billion in 2023.

Therefore, HATM's profit for the year was recorded at IDR 198.17 billion during 2023, growing 39.04% compared to the net profit in the previous year worth IDR 142.51 billion.