JAKARTA - PT Temas Tbk (TMAS) is targeting its profit to be able to reach IDR 1 trilion in 2024, increasing 23% year-on-year (yoy) from 2022 profit of IDR 814.76 billion. Actually, the performance realisation of Temas in 2023 was slowing down compared to 2022.

Faty Khusumo, President Director of TMAS, mentioned that the profit target is set according to the projection of revenue increase of 16% or IDR 5 trillion in 2024. “The increase of container volume was 5% yoy to 556,607 twenty feet equivalent unit (TEUs),” she mentioned after the Annual General Meeting of Shareholders in Jakarta, Wednesday (27/3).

The company seems optimistic regarding this growth objective following the expansion set out by the government in the infrastructure sector.

In 2023, Temas booked revenue of IDR 4.31 trillion, declining from 2022 of IDR 4.88 trillion, while the net profit dropped 42.39% yoy to IDR 814.76 billion from IDR 1.41 trillion.

The main component of the revenue in 2023 was shipping services of IDR 4.30 trillion, followed by stevedoring services of IDR 599.71 billion. While in 2022, shipping services generated revenue of IDR 4.89 trillion, and stevedoring services brought in IDR 545.69 billion.

Based on its operational area in 2023, domestic shipping and stevedoring services brought in IDR 4.11 trillion of revenue, and international shipping services generated IDR 187.68 billion. In 2022, domestic services contributed IDR 4.12 trillion, while international shipping services scored IDR 754.44 billion.

In addition, TMAS’s shareholders also agreed upon capital expenditure (capex) allocation of IDR 1.3 trillion, which will be used to renovate vessels and supporting facilities, in order to promote business expansion of Temas and its subsidiaries.” (LK/ZH)