Temas Profits Up Nearly 1,000%, Shares Soar On Fire!

Jakarta, CNBC Indonesia – Issuer’s stock price shipping PT Temas Tbk (TMAS) closed up 7.32% at Rp 3,080/unit. TMAS’s share price rose to Rp 3,130/unit, which was the highest price in its history.

In the last week, TMAS’s stock price was observed to have increased by 28.87%. The increase in TMAS’s share price is inseparable from its solid business performance throughout last year and continues this year.

Referring to the company’s financial statements for the first quarter of 2022, the decrease in financial expenses and the reversal of losses to gains on foreign exchange differences were able to lift TMAS’ attribution profit up 967 percent to Rp 357.3 billion in the first quarter of 2022. The company’s bottom line is up almost 10x.

The company’s revenue rose 37 percent to Rp 1.17 trillion. Net service expenses also rose 4% to Rp 744 billion.

However, the increase in expenses was not proportional to revenue growth, so gross profit increased 214% to Rp 423 billion.

The gross profit margin also improved from the first quarter of 2021 by 16 percent to 36 percent in the first quarter of 2022.

TMAS operating expenses also increased minimally by only 2% to IDR 33.4 billion at the same time, thus triggering an increase in operating profit of up to 283% to IDR 390 billion as of March 2022. As a result, TMAS managed to record a significant jump in net profit of almost 10 times. fold.

Profit and loss

March 2022

March 2021

Change

Income

849,084

1,167,281

37%

Net Service Expense

714,406

744,045

4%

Good Gross

134,678

423,236

214%

Operations & Finance

32,816

33,401

2%

Operating profit

101,862

389,835

283%

Attribution Profit

33,488

357,353

967%

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For information, TMAS has three main subsidiaries, namely PT Temas Shipping, PT Temas Port and PT Temas Depot.

TMAS services or services spread to various corners of the country and are recorded in 62 ports. In the Pendulum area it reaches 7 ports, Sumatra 10 ports, Nusa Tenggara and Maluku 14 ports, Kalimantan 12 ports and Sulawesi & Papua 19 ports.

Based on the company’s Public Expose Report, several efforts by TMAS to boost financial performance are through efforts to increase revenue, efficiency and service optimization as well as digitizing services.

In order to increase top lineTMAS will encourage cooperation with international shipping for depot services and entry into international services for heavylift and bulk goods.

In terms of efficiency, TMAS targets the purchase and sale of vessels as well as a streamlined internal process, aka the implementation of the new system.

As for digitization efforts, TMAS focuses on launching KlikTemas and optimizing the backend system.

TMAS’s financial performance has clearly benefited from the increase in shipping costs. Due to supply chain disruptions, services freight also experienced a price increase.

Research conducted by the International Monetary Fund (IMF) estimates that the price increase for this shipping service could take place within 18 months.

If the increase freight cost started last year, then high prices are likely to remain high this year.

This of course will be a positive catalyst for the company’s financial performance. Therefore, it is only natural that the share price will increase.

CNBC INDONESIA RESEARCH TEAM

[Gambas:Video CNBC]

(trp/vap)


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