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20231027_WINS_Laporan Informasi dan Fakta Material_31482705_lamp1.pdf
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PT WINTERMAR OFFSHORE MARINE Tbk
Jl. Kebayoran Lama No 155
Jakarta 11560 Indonesia
Tel : 62 21 530 5201 / 2
Fax : 62 21 530 5203
www.wintermar.com
NO. 103/NL/X/2023
NEWSLETTER # 103
30 OCTOBER 2023
RESULTS FOR THE NINE MONTHS ENDED 30 SEPTEMBER 2023
Wintermar records 9M2023 Net Wintermar mencatat Laba Bersih yang
Attributable Profit of dapat Diatribusikan sebesar US$2,8 juta
US$2.8million compared to a loss di 9M2023 dibandingkan dengan
of US$2.1million in 9M2022, on the kerugian US$2,1 juta di 9M2022, didasari
back of better margins from a rise margin yang lebih baik dari peningkatan
in fleet utilization and charter utilisasi armada dan kenaikan tarif
rates. sewa.
Rising fleet utilization through 3Q2023 along with better Peningkatan utilisasi armada sepanjang 3Q2023 bersamaan dengan
charter rates contributed to a 30.7%QOQ increase in kenaikan tarif sewa yang lebih baik berkontribusi pada peningkatan
revenue for 3Q2023, and boosted the gross profit margin pendapatan sebesar 30,7% QOQ pada 3Q2023, dan meningkatkan
to 23.4% for the quarter compared to 15.9% for 2Q2023. margin laba kotor menjadi 23,4% untuk kuartal tersebut
dibandingkan dengan 15,9% pada 2Q2023.
For 9M2023, total revenue was up 23.3%YOY to
US$51.2million of which US$20million was booked in Untuk 9M2023, total pendapatan meningkat 23,3%YOY menjadi
3Q2023. US$51,2 juta, di mana US$20 juta dibukukan pada 3Q2023.
Owned Vessel Division Divisi Kapal Milik
In 3Q2023, the Owned Vessel Division saw a 43.7%QOQ Pada 3Q2023, Divisi Kapal Milik mengalami peningkatan
jump in revenue to US$13.7million from US$9.5million in pendapatan sebesar 43,7% QOQ, menjadi US$13,7 juta dari US$9,5
2Q2023, as several mid and high tier vessels started juta pada 2Q2023, seiring telah dimulainya kontrak sewa dengan
charter contracts with higher daily rates. Direct costs for tarif sewa baru atas beberapa kapal mid dan high tier. Beban
Owned Vessels rose by 17.0%YOY, largely from langsung untuk Kapal Milik mengalami kenaikan sebesar 17,0%
maintenance and operational costs from mobilizing vessels (YOY), sebagian besar disebabkan oleh biaya pemeliharaan dan
to new contracts. operasional atas mobilisasi kapal ke kontrak baru.
Utilization of the fleet rose steadily through the quarter Utilisasi armada terus meningkat sepanjang kuartal ini sehingga
resulting in average utilization of 70% for 3Q2023, up from menghasilkan utilisasi rata-rata sebesar 70% pada 3Q2023, naik
56% in 2Q2023. dari 56% pada 2Q2023.
For 9M2023 Gross Profit from Owned Vessels reached Untuk 9M2023, Laba Kotor dari Divisi Kapal Milik mencapai US$6,8
US$6.8million (+242.9% YOY). juta (+242,9% YOY).
ISM Code & ISPS Compliant
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PT WINTERMAR OFFSHORE MARINE Tbk
Jl. Kebayoran Lama No 155
Jakarta 11560 Indonesia
Tel : 62 21 530 5201 / 2
Fax : 62 21 530 5203
www.wintermar.com
NO. 103/NL/X/2023
Chartering and Other Services Chartering dan Jasa Lainnya
Revenue from the Chartering Division stayed flat at Pendapatan dari Divisi Chartering tetap berada pada angka
US$12.9million (+0.8%YOY), while gross profit for the US$12,9juta (+0,8%YOY), sementara Laba Kotor untuk Divisi ini
Division in 9M2023 was US$1million, lower than pada 9M2023 adalah sebesar US$1 juta, lebih rendah dari US$1,5
US$1.5million in 9M2022. juta pada 9M2022.
Gross Profit from Other Services had a 29.6% YOY Laba Kotor dari Jasa Lainnya mengalami peningkatan 29,6% YOY
increase to US$2.3million for 9M2023. menjadi US$2,3 juta untuk 9M2023.
Quarterly Utilization Trend
83%
85%
80% 76%
75% 70% 70%
68% 67% 68% 68%
70%
63%
65% 61%
60% 56%
55%
50%
Q1 2021 Q2 2021 Q3 2021 Q4 2021 Q1 2022 Q2 2022 Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023
Avg Utilization
Indirect Expenses and Operating Profit Biaya Tidak Langsung dan Laba Operasional
Throughout the 9M2023, overall indirect expenses Sepanjang 9M2023, total beban usaha meningkat sebesar 5,8%
increased by 5.8% YOY to US$4.9 million. As business YoY menjadi US$4,9 juta. Seiring dengan meningkatnya momentum
momentum picked up, there was an increase in staff bisnis, terdapat peningkatan pada gaji karyawan menjadi US$3,6
salaries to US$3.6 million (+9.3% YOY), primarily due to juta (+9,3% YoY), terutama karena perekrutan karyawan tambahan.
the hiring of additional employees.
Operating Profit jumped to US$5.2million for 9M2023 Laba Operasional melonjak menjadi US$5,4 juta untuk 9M2023
(+778.1%) compared to only US$0.6million in 9M2022. (+778.1%) dibandingkan dengan hanya US$0,6 juta di 9M2022.
Other Income, Expenses and Net Attributable Profit Pendapatan Lain, Beban, dan Laba yang Diatribusikan
Interest expenses continued to fall by 10.0%YOY due to Beban bunga terus menurun sebesar 10,0%YOY disebabkan
regular loan repayments while associated companies pembayaran pinjaman secara reguler, sementara perusahaan
recorded a loss of US$0.3 million compared to a profit asosiasi mencatat kerugian US$0,3 juta dibandingkan dengan laba
US$0.5milllion in 9M2022. Total Net Income before Taxes US$0,5 juta di 9M2022. Total Laba Bersih sebelum Pajak berjumlah
amounted to US$3.6 million for 9M2023, compared to a US$3,9 juta untuk 9M2023, dibandingkan dengan kerugian US$2,4
loss of US$2.4million in 9M2022. juta di 9M2022.
As a result, the Company recorded a turnaround with Net Akibatnya, Perseroan mencatat pemulihan dengan Laba Bersih
Attributable profit of US$2.8million as compared with a loss yang Dapat Diatribusikan sebesar US$2,8 juta dibandingkan dengan
of US$2.1million in 9M2022. kerugian US$2,1 juta di 9M2022.
The group's EBITDA also jumped by 50.4% YOY to EBITDA grup juga melonjak 50,4% YOY menjadi US$14,7 juta.
US$14.7 million.
ISM Code & ISPS Compliant
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PT WINTERMAR OFFSHORE MARINE Tbk
Jl. Kebayoran Lama No 155
Jakarta 11560 Indonesia
Tel : 62 21 530 5201 / 2
Fax : 62 21 530 5203
www.wintermar.com
NO. 103/NL/X/2023
Outlook for O&G and the OSV Industry Prospek Industri Migas dan Industri OSV
Voluntary production cuts by Saudi Arabia and Russia Pemotongan produksi sukarela oleh Arab Saudi dan Rusia,
while China, India, and Brazil continue to drive strong oil sementara China, India, dan Brasil terus mendorong permintaan
demand. minyak yang kuat.
There has been a consistent increase in offshore oil and Telah terjadi peningkatan investasi minyak dan gas lepas pantai
gas investments with long term projects that will drive yang konsisten dengan proyek jangka panjang yang akan
utilization of offshore rigs and OSV demand into 2028. mendorong utilisasi rig lepas pantai dan permintaan OSV hingga
tahun 2028.
Source: Rystad Energy
Over the past nine months, the availability of Offshore Selama sembilan bulan terakhir, ketersediaan Kapal Pendukung
Support Vessels (OSVs) has seen a decline due to drilling Lepas Pantai (OSV) telah mengalami penurunan karena proyek
projects in the Middle East, Africa, and Latin America pengeboran di Timur Tengah, Afrika, dan Amerika Latin telah
drawing the operationally ready OSVs toward the region. menarik unit OSV yang siap beroperasi untuk bekerja di wilayah
This tightness subsequently led to South East Asian rates tersebut. Keterbatasan ini kemudian berimbas pada peningkatan
finally beginning to increase in 2H2023. tarif sewa di Asia Tenggara pada 2H2023.
Despite the rising demand, major OSV companies are still Meskipun permintaan meningkat, perusahaan-perusahaan OSV
hesitant to invest in new vessels, emphasizing capital besar masih ragu untuk berinvestasi di kapal baru, menekankan
conservation and concerns about vessel longevity in the pada konservasi modal dan kekhawatiran atas keberlanjutan umur
context of the ongoing energy shift towards renewable fuels pakai kapal dalam konteks pergeseran energi yang sedang
for propulsion. This indicates that the upward momentum berlangsung menuju bahan bakar terbarukan terkait propulsi. Ini
on charter rates will continue. mengindikasikan bahwa momentum peningkatan pada tarif sewa
akan terus berlanjut.
ISM Code & ISPS Compliant
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PT WINTERMAR OFFSHORE MARINE Tbk
Jl. Kebayoran Lama No 155
Jakarta 11560 Indonesia
Tel : 62 21 530 5201 / 2
Fax : 62 21 530 5203
www.wintermar.com
NO. 103/NL/X/2023
US$ / day
Source : Fearnley, August 2023
Company Outlook Prospek Perseroan
Wintermar expects the strong performance to be Wintermar memperkirakan kinerja yang lebih kuat sepanjang sisa
maintained throughout the remainder of 2023. Charter tahun 2023. Tarif sewa sedang meningkat, tetapi belum pulih ke level
rates are rising, but have not yet recovered to levels seen tertinggi sebelumnya. Kami memperkirakan permintaan atas OSV
in the last peak. We expect the demand for high tier OSVs high tier akan secara bertahap mendorong tarif sewa lebih tinggi di
to gradually drive charter rates higher in the coming years. tahun-tahun mendatang. Terdapat pergeseran struktural dalam
There is a structural shift in upstream oil and gas investasi hulu minyak dan gas yang lebih condong ke lepas pantai
investments which favours offshore over onshore. In view daripada darat. Mengingat tingginya tingkat investasi lepas Pantai
of the high levels of approved investments in offshore yang telah disetujui hingga tahun 2028, pemulihan ini akan terus
through towards 2028, this recovery is likely to continue for berlanjut untuk berapa tahun yang mendatang.
the coming few years.
As at end of September 2023, the Company’s Contracts on Per akhir September 2023, Kontrak Perseroan yang telah dimiliki
hand amounted to US$76 million. untuk dikerjakan adalah sebesar US$76 juta.
ISM Code & ISPS Compliant
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PT WINTERMAR OFFSHORE MARINE Tbk
Jl. Kebayoran Lama No 155
Jakarta 11560 Indonesia
Tel : 62 21 530 5201 / 2
Fax : 62 21 530 5203
www.wintermar.com
NO. 103/NL/X/2023
Ms. Pek Swan Layanto, CFA
Investor Relations
PT Wintermar Offshore Marine Tbk
Tel (62-21) 530 5201 Ext 401
Email: investor_relations@wintermar.com
DISCLAIMER
Certain statements made in this publication involve a number of risks and uncertainties that could cause actual results to differ materially from those projected. Certain
statements relating to business and operations of PT Wintermar Offshore Marine Tbk and Subsidiaries (the Company) are based on management’s expectations,
estimates and projections. These statements are not guarantees of future performance and involve risks, uncertainties and assumptions that are difficult to predict.
Certain statements are based upon assumptions as to future events that may not prove to be accurate. Therefore, actual outcomes and results may differ materially
from what is expressed or forecasted in such statements. The Company makes no commitment, and disclaims any duty, to update or revise any of these statements.
This publication is for informational purposes only and is not intended as a solicitation or offering of securities in any jurisdiction. The information contained in this
publication is not intended to qualify, supplement or amend information disclosed under corporate and securities legislation of any jurisdiction applicable to the
Company and should not be relied upon for the purpose of making investment decisions concerning any securities of the Company.
ISM Code & ISPS Compliant
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PT WINTERMAR OFFSHORE MARINE Tbk
Jl. Kebayoran Lama No 155
Jakarta 11560 Indonesia
Tel : 62 21 530 5201 / 2
Fax : 62 21 530 5203
www.wintermar.com
NO. 103/NL/X/2023
SUMMARY PROFIT AND LOSS (YTD Sept-2022 vs YTD Sept-2023)
PT WINTERMAR OFFSHORE MARINE TBK AND SUBSIDIARIES (in US$)
Description YTD Sept YTD Sept YTD Sept-2022 vs YTD Sept-2023
2022 2023 Change %
PROFIT AND LOSS
Revenue
Owned vessel 24,300,238 32,958,697 8,658,459 35.6%
Chartering 12,808,371 12,912,485 104,114 0.8%
Others 4,445,508 5,347,817 902,309 20.3%
Total Revenue 41,554,118 51,218,999 9,664,882 23.3%
Direct expense
Owned vessel 22,299,061 26,097,517 3,798,456 17.0%
Charter 11,301,585 11,918,920 617,335 5.5%
Others 2,682,575 3,063,600 381,025 14.2%
Total Direct expense 36,283,221 41,080,037 4,796,816 13.2%
Gross profit (loss) 5,270,897 10,138,962 4,868,065 92.4%
Gross profit (loss) - owned vessel 2,001,177 6,861,180 4,860,003 242.9%
Gross profit (loss) - chartering 1,506,786 993,565 (513,221) -34.1%
Gross profit (loss) - others 1,762,933 2,284,217 521,284 29.6%
Total Indirect expenses (4,680,103) (4,951,468) (271,365) 5.8%
Operating profit (loss) 590,794 5,187,494 4,596,700 778.1%
Other income (expenses)
Interest expenses (1,072,333) (964,927) 107,406 10.0%
Interest income 27,266 28,410 1,144 4.2%
Equity in net earning of associates 496,654 (345,807) (842,461) -169.6%
Net - Gain (loss) on sale of fixed assets (2,631,584) 20,252 2,651,836 0.0%
Forex gain (loss) 15,023 (157,457) (172,480) -1148.1%
Impairment of assets - - - 0.0%
Others 165,259 (203,281) (368,540) -223.0%
Total Other income (expenses) (2,999,716) (1,622,810) 1,376,906 45.9%
Net income (loss) before tax (2,408,921) 3,564,684 5,973,605 248.0%
Total tax benefit (expenses) (423,971) (739,130) (315,159) -74.3%
Income (loss) before non controlling interest (2,832,892) 2,825,554 5,658,446 199.7%
Non controlling interest (766,285) 33,346 799,631 104.4%
NET INCOME (LOSS) ATTRIBUTABLE TO (2,066,607) 2,792,208 4,858,815 235.1%
EBITDA 9,761,367 14,681,537 4,920,170 50.4%
Weighted Average EPS - USD Cents (0.048) 0.064 0.11 235.1%
Weighted Average EPS - Equivalent to IDR (7.25) 9.97 17.22 237.6%
ISM Code & ISPS Compliant
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PT WINTERMAR OFFSHORE MARINE Tbk
Jl. Kebayoran Lama No 155
Jakarta 11560 Indonesia
Tel : 62 21 530 5201 / 2
Fax : 62 21 530 5203
www.wintermar.com
NO. 103/NL/X/2023
SUMMARY PROFIT AND LOSS (YTD Sept-2022 vs YTD Sept-2023)
PT WINTERMAR OFFSHORE MARINE TBK AND SUBSIDIARIES (in US$)
Description YTD Sept YTD Sept YTD Sept-2022 vs YTD Sept-2023
2022 2023 Change %
Direct expense
Depreciation 9,077,804 9,367,213 289,409 3.2%
Crewing 6,428,588 6,748,095 319,507 5.0%
Operations 2,542,817 3,829,978 1,287,161 50.6%
Maintenance 2,353,000 4,293,514 1,940,514 82.5%
Fuel Bunker 1,896,852 1,858,717 (38,135) -2.0%
Charter 11,301,585 11,918,920 617,335 5.5%
Others 2,682,575 3,063,600 381,025 14.2%
Total Direct expense 36,283,221 41,080,037 4,796,816 13.2%
Gross profit (loss) 5,270,897 10,138,962 4,868,065 92.4%
Indirect expenses
Administration (99,524) (101,029) (1,505) 1.5%
Depreciation office (92,768) (126,830) (34,062) 36.7%
Employee Benefits (275,041) (256,413) 18,628 -6.8%
Profesional fee (140,210) (219,371) (79,161) 56.5%
Staff salary (3,309,743) (3,616,626) (306,883) 9.3%
Staff training & recreation (103,339) (95,804) 7,535 -7.3%
Telecomunication (28,918) (33,160) (4,242) 14.7%
Marketing (128,544) (94,115) 34,429 -26.8%
Travelling (56,260) (61,276) (5,016) 8.9%
Donation (7,922) (9,060) (1,138) 14.4%
Office utility (437,833) (337,784) 100,049 -22.9%
Total Indirect expenses (4,680,103) (4,951,468) (271,365) 5.8%
ISM Code & ISPS Compliant
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