MBSS 2012 revenue stands at US$141m

IDX-listed barging provider Mitrabahtera Segara Sejati Tbk (MBSS) recently stated to record US$ 141.4 million worth of revenue, US$ 56.4 million worth of gross profit, US$64.3 million worth of EBITDA and US$36.5 million worth of net profit for the year 2012 ended 31 Desember 2012.

In the last quarter, the company has acquired 2 additional barges and one floating crane (FC), making a total of 74 barging sets and 7 FCs at the end of 2012, the company said in a statement Thursday.

The company also invested about US$ 50 million to get 3 new barging sets and 2 new FCs , of which as of January 2013, all barging sets and FC have been acquired.

The fourth quarter marked the beginning of MBSS operation for Kideco under the Indika group flag, operating 8 sets of 8.000 ton per trip tug&barge and 1 additional FC at 50.000 ton per day capacity for Adang Bay.

?MBSS contributed 18,9 percent of the total revenue of Indika in 2012,? the company's President Director Rico Rustombi said.

MBSS also acquired US$ 156.7 million worth of new contract in 2012, US$28.2m worth of barging contract and US$128.5m of FC contract.

"This has oncreased our backlog to reach US$ 405.8m at the end of the year,? company finance director Ika Bethari said.

The company targets 15 percent growth in 2013 with no plan for additional fleet increase or capex allocation for 2013.

Editing by Er Audy Zandri