STRONG GROWTH, PELITA SAMUDERA SHIPPING’S Q1/2021 NET PROFIT ROSE MORE THAN 50% YOY

JAKARTA, 24 May 2021

PT Pelita Samudera Shipping Tbk (IDX “PSSI”), an integrated logistics services provider and sea transportation solutions for coal and mineral transport announced its first-quarter results ended March 31, 2021. Revenue increased by 6% (YoY) to US$20.5 million from US$19.3 million.

Despite the economy not being recovered due to pandemic challenges, the high and stable price of coal since the end of 2020, contributing positively to the increase in the company’s asset utilization in all business segments.

  • Tugboats & Barges (T&B) segment reached 92.8% utilization by contributing the highest revenue of US$8.7 million, followed by Bulk Carrier Motor Vessel (MV) which reached 100% utilization and Floating Loading Facilities (FLF) at 64.7%, each contributing Revenue at US$5.9 million.
  • Cost of Revenue only increased by 4% (YoY) to US$15.5 million from US$14.9 million, contributed by the increase in vessels repair and maintenance costs and time charter costs, but offset by a decrease in fuel costs, resulting in the Company posting a higher gross profit margin of 24.5% compared to Q1/2020 of 22.7%.

The T&B segment expanded its business diversification to transport nickel commodities in addition to coal, contributing the most to Time Charter Revenue which increased significantly by 98% (YoY) to US$5.7 million from US$2.9 million. Followed by the MV segment that has penetrated the wider market reach in the international market with higher average freight rates from the domestic market and increased multi-cargo transportation such as cement, steel billet, iron products, sugar in addition to coal. The Company posted a Net Profit for the year of US$2.5 million in Q1/2021, a significant increase of 54% (YoY) from US$1.6 million.

President Director, Iriawan “Alex” Ibarat said, ”The Company continues to take strategic steps to take advantage of global market conditions that are slowly starting to recover. In addition to focusing on diversification of multi-cargo transport commodities, the Company also maximized capital expenditure for fleet expansion with the purchase of 2-unit Tugboat in the first quarter and maximized the utilization of the asset.”

  • Total Assets of US$148.8 million, slightly higher than US$146.8 million as of December 31, 2020.
  • Total Equity of US$97.2 million, an increase of 3% from US$94.5 million as of December 31, 2020, contributed by a 7% increase in Retained Earnings to US$42.1 million from US$39.4 million.
  • Healthy capital and liquidity structure, the Company posted Cash and Cash Equivalents at the end of Q1/2021 of US$11.7 million, up 131% from Q1/2020 of US$5.1 million.
  • EBITDA of US$6.7 million with EBITDA margin at 33%.
  • The increase in Net Profit lifted Return on Invested Capital (ROIC) to 1.97%, Return on Asset (ROA) to 1.71%, and Return on Equity (ROE) to 2.62%.

Alex continued, “Nickel production volume in the first quarter year-over-year showed a positive trend with an average growth of 19%, predicted to grow significantly by 29% in 2021. This growth will contribute positively to the demand for transport of Tug and Barges and MV. We are optimistic that the good momentum in Q1 will continue in the second quarter and throughout 2021. With business diversification, asset optimization, and fleet expansion as part of our sustainable strategy, our targets to Increase Revenues by 15 to 20 percent in 2021,” concluded Alex.

Information regarding PSSI financial position as of March 31, 2021, based on Unaudited Financial Statements.

                      — end —

,

Pelita Samudera Shipping Tbk conducted Swab Antigen Test For Its Employee Post Eid-Al Fitr Holiday

PT Pelita Samudera Shipping Tbk (PSS) conducted antigen swab tests for its employees in Jakarta and Samarinda after the Eid al-Fitr holiday.  The move is part of the company’s commitment to continue to implement health protocols for the health of all staff and Covid-19 transmission prevention in the company’s work environment.

In Jakarta, an antigen swab test was conducted at PT MSI Ship Management office, Sudirman Park, Central Jakarta on Monday morning (17/5). The Antigen swab test is in collaboration with the Maritime Occupational Health Center (BKKP) Directorate of Sea Transportation, Ministry of Transportation. The officer takes a sample of respiratory fluid from the nose with a test kit, then placed it in a special solution to see whether or not there is a coronavirus antigen. 87 employees took tests divided into several sessions to prevent crowds. The result showed no COVID-19 was detected based on the test results or Negative for all employees

Antigen swab test is routinely done every month in the company’s work environment (PSS &MSI). The test this time is mandatory due to the Eid holiday, and also to prevent office clusters.

Meanwhile, at the PSS Representative Office in Samarinda, 65 employees of PSS and PT Permata Bahari Shipping, a sister company of PSS, also conducted antigen swab tests on Tuesday (18/5) afternoon. The test was also in collaboration with BKKP Samarinda. The result showed no COVID-19 was detected based on the test results or Negative for all employees.

contributed by
Hariman Chalid
Corporate Communication
,

PT Pelita Samudera Shipping Indonesia Tbk (PSS) inaugurated a new branch office in Kendari, April 7, 2021.

PSS branch office in Kendari is located in Citra Land, a new Lifestyle City Center and Central Business District (CBD) area in Kendari City. The inauguration of this branch office was attended by the Director of PSS Harry Chan, PSS Advisor Zulkarnaen Adinegara Corporate Secretary Imelda Agustina Kiagoes, and Capt. Komang representing MSI Ship management. Also present were Galley’s Kendari customers including Ferdinand Mapaye from Jakarta, and other stakeholders

The event went smoothly thanks to the excellent cooperation of team GA of the Samarinda team (Dedy Kusminto) and the PSS Kendari team. At least five employees are based here from the Department of Operations, Procurement, HSSE, Technical, and Crewing.

The strategic office location and close to Kendari New Port and Airport can be used to attract potential customers and investors in Kendari. Exports from Kendari are diverse because the potential of Southeast Sulawesi is diverse, including in the field of mining, a mainstay commodity in Southeast Sulawesi.

PSS as a reliable provider of logistics services and integrated marine transportation solutions is ready to support the local coal mining industry, minerals, and power plants in Indonesia by serving inter-island transportation to various industries, coal power plants, and other industries.

***

Contributed by
Hariman Chalid
Corporate Communication

.

, ,

PELITA SAMUDERA SHIPPING DISTRIBUTED 265 FOOD PACKAGES AND PROVIDE ALLOWANCE FOR ORPHANS IN FOUR CITIES DURING THE MONTH OF RAMADAN

PELITA SAMUDERA SHIPPING DISTRIBUTED 265 FOOD PACKAGES AND PROVIDE ALLOWANCE FOR ORPHANS IN FOUR CITIES DURING THE MONTH OF RAMADAN

 

Jakarta, 10 May, 2021

PT Pelita Samudera Shipping Tbk (PSS) distributed a total of 265 packages of food staples and allowance to orphans living in a number of orphanages and mosques in four cities this Ramadan. This activity is part of the Corporate Social Responsibility to the community or environment in which PSS operates.

The distribution of food packages and allowance is carried out simultaneously in four PSS working areas, Jakarta, Samarinda, Berau, and Kendari.
In Jakarta, PSS distributed 115 packages of food staples in two locations not far from PSS headquarters, at Yayasan Masjid Al Itishom in Karet Tengsin area, Tanah Abang, Central Jakarta; and also, Yayasan Muslim Nusantara Foundation, in Kuningan, Setiabudi, South Jakarta. The food staple packages provided including rice, sugar, cooking oil, eggs, milk, tea, instant noodles, canned food, and syrup. In addition to food packages, PSS also provides allowances to orphans who live there.
In Samarinda, East Kalimantan, the food packages and allowance were given to two places, in Al Hayat Orphanage as many as 20 packages of food and allowance. And also, to the FJDK Elderly & Orphans House as many as 45 packages of food and also allowance. While in Berau, the donation is given in the form of 25 packages of uniforms and allowance for Boarding school children and administrators who live in the school.
At the new PSS branch office in Kendari, Southeast Sulawesi, 55 packages of food and compensation were distributed to the Sultan Al-Amin Foundation House.
PSS President Director, Iriawan “Alex” Ibarat hopes that the donation provided can be useful and help to meet the basic needs of orphans in the midst of the Covid-19 pandemic situation and also for Eid al Fitr Day. “We believe that creating a balance between business interests and realizing the welfare of society and the environment can make Indonesia better. Thank you to all of our employees who support and make this activity a success. “
PSS has three pillars that focus and aim to make Indonesia better, they are Indonesia Smarter, Indonesia Healthier, and Indonesia More Environmentally Friendly.
The total value of donations provided in this activity amounted to more than Rp92 million.

***

Contributed by
Hariman Chalid
Corporate Communication
PT Pelita Samudera Shipping Tbk