Throughout 2023, Trans Power Marine (TPMA) Records a Profit Increase of Up to 37.76%

COAL - JAKARTA. Throughout 2023, the shipping issuer PT Trans Power Marine Tbk (TPMA) managed to improve its performance. Citing from the financial report of the Indonesia Stock Exchange (IDX), this is evident from TPMA's revenue which increased by 6% with a value of US$ 66.58 million. This is compared to the same period in 2022, which was at US$ 62.8 million.

Although revenue increased, TPMA managed to slightly reduce direct costs by 0.02%. Throughout 2023, direct costs reached US$ 41.66 million, while in 2022, direct costs were at US$ 41.67 million.

TPMA's operating income throughout 2023 came from two transportation service sectors, namely Tug and Barge worth US$ 48.28 million, and Floating Crane US$ 18.3 million. This also increased TPMA's basic earnings per share, from US$ 0.0054 to US$ 0.0075 at the end of 2023.

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As for the current year's profit or net income, TPMA recorded an increase of 37.76% with a value of US$ 19.7 million compared to the 2022 profit which was at US$ 14.3 million.

From the asset side, throughout 2023, TPMA's liabilities were valued at US$ 24.88 million while its equity was at US$ 92.52 million. So, the total assets throughout 2023 for TPMA were worth US$ 117.4 million.

In addition, according to Kontan's notes, in this year's business agenda, TPMA plans to increase the number of its fleet. If detailed, this year TPMA plans to add two tugboat fleets and four barges. The capital expenditure (Capex) budget prepared is around US$ 20 million for 2024.