SOLID PERFORMANCE AND ASSET OPTIMISATION RESULTED IN HIGH PROFITABILITY, PSS REPORTED FY2018 NET PROFIT OF US$14.1 MILLION

SOLID PERFORMANCE AND ASSET OPTIMISATION RESULTED IN HIGH PROFITABILITY, PSS REPORTED FY2018 NET PROFIT OF US$14.1 MILLION

 

  • 2018 Net Profit achievement was the highest in the last 5 years
  • Earnings per Share (EPS) reached about IDR39 (IDR 14,000/USD)
  • Bigger financial capacity will help PSS to accelerate growth

 

JAKARTA, MARCH 26, 2019

PT Pelita Samudera Shipping Tbk (“PSS”, “The Company”, IDX code: PSSI) today announced its audited financial result ended December 31, 2018.

FY2018 Net Revenue was around US$63.6 million, reflecting an increase of about 30% year-on-year (YoY) from about US$49.0 million in 2017.

Increase in volume and rate of Tugboat and Barge (TNB) and the commencement of new business line Mother Vessel (MV) attributed largely to the Company’s Revenue performance.

TNB formed about 56% of the Company’s Net Revenue in 2018, followed by Floating Loading Facility (FLF) of about 39% and MV of about 5%.

Gross Profit increased by about 54% YoY to around US$16.3 million in 2018 from around US$10.5 million in 2017, thus expanding Gross Profit Margin to 25.6% in 2018 vs. 21.5% in 2017.

Solid operational performance coupled with asset optimisation in the form of divestment of 1 unit of FLF allowed PSS to report 2018 Net Profit of about US$14.1 million, the biggest achievement in the last 5 years, showing a 4-fold increase from 2017.

Excluding non-recurring income and expenses, PSS managed to double its FY2018 Net Profit to around US$7.8 million from around US$3.9 million in 2017.

This achievement resulted in higher profitability with Net Profit Margin of about 12.2% in 2018 compared to about 8.0% in 2017.

EBITDA was around US$23.4 million in 2018, upped by about 32% YoY from around US$17.7 million, reflecting EBITDA margin of about 36.8% in 2018 better than about 36.2% in 2017.

Bigger financial capacity to accelerate growth

The Company continues to build up stronger financial position as Total Assets increased by about 8% YoY to around US$110.1 million and Total Equity increased by about 17% YoY to around US$71.7 million as of December 31, 2018.

On the same corresponding period, PSS has Cash and Cash Equivalent of about US$15.7 million (including Restricted Cash of about US$2.2 million) while total outstanding Bank Loans stood at about US$25.4 million.

The Company’s Gearing and Net Gearing Ratios were 0.35x and 0.13x as of December 31, 2018, much better than 0.52x and 0.26x as of December 31, 2017, respectively.

Debt to EBITDA and Net Debt to EBITDA ratios as of December 31, 2018 were respectively, 1.08x and 0.41x, lower than 1.81x and 0.89x as of December 31, 2017, respectively.

Such solid financial position displayed that PSS has a well-managed capital structure and solid financial capacity.

Utilization of the Company’s financial capacity, starting with combination of internal cash and bank financing for MV fleet expansion consisted of 1 unit of handysize class vessel in December 2018 and 2 units of supramax class vessels, each in January 2019 and February 2019, will accelerate PSS growth in 2019 and onwards.

The Company is targeting Net Revenues to grow by around 25% to 30% with EBITDA margin of around 28% to 30% in 2019.

Diamond Day 2018 PT.Pelita Samudera Shipping Tbk – Bukti Kepedulian Perusahaan pada Masyarakat Lokal

Diamond Day 2018

PT Pelita Samudera Shipping Tbk

Bukti Kepedulian Perusahaan pada Masyarakat Lokal

 

Diamond day adalah kegiatan tahunan sosial yang rutin dilaksanakan setiap 09 Maret.  PSS secara konsisten melakukan berbagai program sosial baik Community Relations, Kemitraan dan Bina Lingkungan. Dinamakan Diamond day sesuai dengan logo perusahaan yang berbentuk Berlian memiliki Keempat titik pilar  mewakili 4 kebutuhan dasar manusia – makanan, tempat tinggal, pakaian transportasi dan garis mewakili makna kebahagiaan. Kegiatan ini tiap tahun memiliki tema yang berbeda sesuai dengan value perusahaan yang berasal dari kata COMPASS yaitu Collaboration, Mindfulness, Prudence, Add value, Strategic Mindset, Stewardship

Untuk kegiatan tahun ini, Tema yang diusung yaitu Prudence PSS berfokus pada kegiatan kemanusiaan dan peningkatan infrastruktur melalui perbaikan sarana dan prasarana ibadah. Rangkaian kegiatan Diamond Day dilaksanakan secara serentak di 3 kota kantor PSS berada.

Untuk kegiatan di Jakarta, berfokus pada kegiatan kemanusiaan, melaksanakan kegiatan donor darah bekerjasama dengan PMI Jakarta Utara serta berbagi kasih dengan anak anak difabel berkunjung ke Yayasan Sayap Ibu Bintaro, sebuah organisasi non-profit yang berfokus membantu anak-anak penyandang disabilitas majemuk seperti Hydrocephallus, Microcephaly, Down Sydrome, Celebral Palsy, Autisme dan lainnya. dari keluarga pra-sejahtera. Diwakili Direktur Keuangan Yolanda Watulo dan Direktur Independen Helena Adnan memberikan santunan kepada Ibu Renowati Hardjosubroto Ketua Umum Yayasan Sayap Ibu.Bintaro. Selain pemberian donasi, PSS juga memberikan bantuan apotik hidup guna menginspirasi anak-anak untuk mengenali kembali Tanaman Obat yang dapat dimanfaatkan PSSi juga berharap agar tanaman obat ini dapat mendukung sistem ketahanan kesehatan di yayasan dimana tanaman Obat dapat dimanfaatkan untuk pencegahan awal penyakit ringan.

Kegiatan Diamond Day di Samarinda dilaksanakan di area operasional perusahaan Dusun Muara Pegah, Kelurahan Muara Kembang,Kecamatan Muara Jawa, Kutai Kertanegara. Memberikan bantuan untuk pembangunan sarana dan Prasarana Rumah Ibadah diharapkan agar masyarakat lebih nyaman dan giat beribadah, di sisi lain meningkatkan ukhuwah Islamiyah bagi para jamaah. Sumbangan lain berupa pemberian kursi dan meja untuk keperluan belajar mengajar di SD merupakan satu-satunya sekolah yang ada didusun tersebut serta pembagian tas dan alat tulis kepada para murid. Pemberian disampaikan langsung oleh Direktur Operasional Harry Tjhen melalui Sekretaris Camat Muara Jawa Drs H Nurdin, Lurah Muara Kembang Edi Krisna S.pd dan Kepala sekolah Muara Pegah SUkmawati S.pd, Harapan dari Manajemen PSS agar tempat tersebut dapat terus menjadi desa binaan PSS.

Di Banjarbaru, Diamond Day diadakan tak kalah meriahnya, pelaksanaan kegiatan Donor Darah yang digelar rutin tiap tahun ini diadakan di alun alun kota dengan disambut antusiasme masyarakat yang berolahraga  untuk sejenak mendonorkan darahnya, kegiatan ini Panitia berhasil mengumpulkan 50 kantong darah, kegiatan ini rutin dilaksanakan tiap tahun. Adapun wujud komitmen lain dalam peningkatan kualitas pendidikan anak, melalui pembuatan taman hijau sekolah serta perbaikan sarana dan prasarana pendidikan, tahun ini program pembuatan taman hijau sekolah dilaksanakan di Sekolah Dasar Luar Biasa Sungai paring yang dikombinasi dengan penanaman tanaman obat dan tanaman biasa pada umumnya.

Penyerahan Donasi di Jakarta

Penyerahan Bantuan Peralatan Sekolah di Desa Muara Pegah- Samarinda

Penterahan Donasi ke SDLB Sungai Paring- Banjarbaru

Peletakan Pancang Tiang Pertama, renovasi Mesjid di Desa Muara Pegah

Foto bersama dengan SDLB Sungai Paring

Donor Darah Banjarmasin

PRESS RELEASE – PSS SUCCESSFULLY SECURED A NEW LONG-TERM CONTRACT OF COAL AND MINERAL CARGO

PSS SUCCESSFULLY SECURED A NEW LONG-TERM CONTRACT OF COAL AND MINERAL CARGO

 

  • Bagged a 5-year contract worth about USD39.4 million
  • Two (2) Supramax class vessels to meet the time charter contract

 

JAKARTA, MARCH 11, 2019

PT Pelita Samudera Shipping Tbk (“The Company”, “PSS”, IDX code: PSSI) announced the signing of time charter contract worth around USD39.4 million for shipment of nickel ores and coal for 5 years.

The contract agreement was signed to serve one major nickel smelter in Indonesia, PT Virtue Dragon Nickel Industry (VDNI). PSS will carry out the shipment of nickel ore from Halmahera Island to Sulawesi Island, with coal shipped from Kalimantan Island to Sulawesi Island.

Using the recently purchased two (2) units of supramax class vessels, the first vessel, “MV Daidan Pertiwi” acquired on January 2019 with transaction value of less than USD11 million, followed by its second vessel “MV Daidan Mustikawati” acquired on February 2019 with transaction value of less than USD10 million.

These additional two (2) supramax class vessels lifted the Company’s mother vessel (MV) cargo capacity in term of Dead Weight Ton (DWT) from about 31k DWT in 1Q 2018 to about 174.6k DWT in 1Q 2019 or more than five (5) times in the last four (4) quarters as PSS is gradually expanding its MV business line.

Such achievement is the biggest time charter contract successfully obtained by PSS in the last five (5) years, showing the Company’s strong effort to expand its customer base from mostly coal to other sectors, including mineral; hence, supporting the logistic supply chain part of Indonesia’s move in creating added value from its downstream mining industry.

OFFICE MOVING RELOCATION ANNOUNCEMENT

OFFICE MOVING RELOCATION ANNOUNCEMENT

We are pleased to announce, effective from March 4, 2019, the Company relocates to a new building as follows:

Menara Astra 23rd Floor
Jl. Jend. Sudirman Kav. 5-6
Jakarta Pusat 10220
No Telp: +62 21 80600800 , Fax : +62 21 80600801
Website: www.ptpss.co.id

All administrative purposes related to correspondence, telephone and fax should be addressed to a new office.
The Company does not send a separate announcement to the Shareholders. This information is considered as an announcement to the Shareholders, Investors and the Public.
Thank you for your attention

Corporate Secretary and Communications

 

Document download: Office_Moving_Announcement