JAKARTA. PT Soechi Lines Tbk (SOCI), the company engaged in the tanker assembly and supporting logistics for oil and gas, recorded net profit of USD 8.92 million or approximately IDR 141.16 billion in 2023.

This net profit is 38% year-on-year (yoy) higher from the previous year, in which the company only scored net profit of USD 6.57 million or equal to approximately IDR 101.78 billion in 2022.

According to the recently issued financial report, SOCI’s net profit surge in 2023 is in line with its revenue, which reached USD 169.96 million. The revenue in this period also increased 17.96% yoy from 2022.

The shipping business line remained the most extensive contributor to SOCI’s revenue in 2023, generating USD 172.59 million. Meanwhile, shipyard business only brought in USD 17.34 million.

In addition, SOCI also obtained financial income of USD 325.4 thousand in 2023, up 39% yoy. Then, the loss on foreign exchange booked by the company in 2023 only reached USD 910 thousand, much lower than USD 3.54 million seen in 2022.

As of December 31, 2023, SOCI’s total assets were recorded at USD 604.3 million, while its total equity was USD 382.52 million. (KR/ZH)