Wintermar posts solid profit growth
Monday, April 1 2013 - 07:46 AM WIB
IDX-listed offshore marine services company PT Wintermar Offshore Marine reported a 23 percent growth in net profit in 2012 from a year earlier, thanks in part to the contribution from new higher value vessels.
The firm said in a statement on Monday that revenues from owned vessels rose by 20 percent to US$65.3million in 2012, fuelled by fleet additions of 13 units of higher value vessels (12 mid and 1 high tier) in 2011 and 3 additional vessels (2 high tier and 1 mid tier) in 2012.
It took the delivery of 2 units of 8000HP Anchor Handling Towage and Supply Vessels and 1 unit of Anchor Handling Tug in the second semester of 2012 for a total investment of $48million. During 2012, higher value vessels (ie, mid and high tier) contributed 77 percent of owned vessels revenue, and by the end of December 2012, made up 50 percent of fleet composition.
In total, income after tax and minorities was $20.2million. The EBITDA for 2012 meanwhile totaled $40.4million, which was higher by 27 percent compared to 2011.
Editing by Dadan Wijaksana