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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. 107/NL/VI/2024

                                                NEWSLETTER # 107
                                                   21 June 2024
                                          WINTERMAR’S PUBLIC EXPOSE 2024


Wintermar has invested US$13.9                                         Wintermar      telah    menginvestasikan
million out of total planned capex of                                  US$13,9 juta dari total rencana capex
US$35 million for 2024, anticipating                                   US$35 juta untuk 2024, dengan antisipasi
higher demand for OSVs driven by                                       peningkatan permintaan OSV yang
increased offshore investments and                                     didorong oleh peningkatan investasi lepas
tight supply.                                                          pantai dan ketatnya pasokan.
During the Virtual Public Expose on 21 June 2024, PT                   Selama Paparan Publik Virtual pada 21 Juni 2024, PT Wintermar
Wintermar Offshore Marine Tbk (Wintermar) updated on                   Offshore Marine Tbk (Wintermar) memaparkan perkembangan atas
strategic plans to expand its fleet to capitalize on the               rencana strategis menambah armadanya guna memanfaatkan
anticipated growth in the oil and gas industry. The Company            pertumbuhan yang diantisipasi pada industri minyak dan gas.
anticipates higher charter rates to come as investment into            Perusahaan memperkirakan akan terjadi kenaikan tarif seiring
offshore deepwater oil and gas (O&G) fields and recent O&G             dengan investasi di blok minyak dan gas lepas pantai deepwater
discoveries have propelled demand for offshore supply                  serta penemuan di deepwater baru-baru ini yang telah mendorong
vessels (OSV) while supply remains constrained.                        permintaan kapal pendukung lepas pantai (OSV) sementara
                                                                       pasokan masih terbatas.
By the end of May 2024, Wintermar's fleet comprised 42                 Hingga akhir Mei 2024, armada Wintermar terdiri dari 42 kapal,
vessels, with a focus on the high value segment to drive               dengan fokus pada segmen high value untuk mendorong
future profitability. Wintermar has placed orders for two              profitabilitas masa depan. Wintermar telah memesan dua Heavy
Heavy Load Barges (HLB), which are expected to be                      Load Barge (HLB), yang diperkirakan akan selesai dibangun pada
delivered by year end, and one Accommodation Work Barge                akhir tahun, dan satu Accommodation Work Barge (AWB) ke
(AWB) to its fleet. This was funded by internal cash flow and          armadanya. Investasi ini didanai oleh arus kas internal dan
the sale of two low-yielding vessels, including one Anchor             penjualan atas dua kapal dengan kinerja yield rendah, termasuk
Handling Tug (AHT) and one Fast Utility Vessel (FUV). In               satu Anchor Handling Tug (AHT) dan satu Fast Utility Vessel (FUV).
April, one older Platform Supply Vessel (PSV) was sold at              Pada April, satu Platform Supply Vessel (PSV) dijual dengan valuasi
favorable valuation. Two PSVs are currently undergoing                 yang menguntungkan. Dua PSV saat ini sedang menjalani
reactivation and are expected to commence operations by                reaktivasi dan diperkirakan akan mulai beroperasi pada akhir
the end of the second half of 2024.                                    semester kedua 2024.

Fleet utilization in the 5-month period till end May 2024 was          Utilisasi armada pada 5 bulan hingga akhir periode Mei 2024 adalah
68%, similar to the utilization rate in 2023. This reflects the        68%, sama dengan utilisasi pada tahun 2023. Hal ini mencerminkan
current early stage of the oil and gas investment cycle with           tahapan awal dari siklus investasi minyak dan gas dengan sifat
shorter term contracts associated with exploration activities.         kontrak berjangka pendek, khususnya kegiatan eksplorasi. Namun,
However, the average charter rates for the same 5-month                tarif sewa rata-rata untuk periode 5 bulan yang sama meningkat
period rose 23.1% for high-tier vessels and 14.5% for mid-             23,1% untuk kapal high tier dan 14,5% untuk kapal mid tier
tier vessels compared to the average for the full year 2023.           dibandingkan tarif sewa rata-rata untuk setahun penuh 2023.
The Company expects further increases in charter rates and             Perusahaan mengharapkan kenaikan lebih lanjut dalam tarif sewa
utilization in the second half of 2024.                                dan utilisasi di semester kedua 2024.




                                           ISM Code & ISPS Compliant
                                                                                                                              Page | 1
Page 2
 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. 107/NL/VI/2024
 Finance Director Janto Lili reported that the Company's                  Janto Lili, Direktur Keuangan melaporkan bahwa Laba Bruto
 Gross Profit for the 1Q2024 reached US$5.0 million,                      Perusahaan untuk 1Q2024 mencapai US$5,0 juta, mencerminkan
 reflecting a significant improvement compared to 1Q2023 of               peningkatan yang signifikan dibandingkan 1Q2023 senilai US$3,0
 US$3.0 million. This increase was driven by additional                   juta. Peningkatan ini didorong oleh penambahan kapal higher value
 higher-value vessels starting operations and higher charter              yang beroperasi dengan tarif sewa yang lebih tinggi yang
 rates, leading to margin expansion. The gross profit margin              menghasilkan ekspansi margin. Margin laba bruto meningkat
 increased to 27.1% in the first quarter of 2024, compared to             menjadi 27,1% pada kuartal pertama 2024, dibandingkan dengan
 20.7% for the full year 2023. Wintermar's low net gearing of             20,7% untuk keseluruhan tahun 2023. Net Gearing Wintermar
 below 1% positions the Company well to fund growth                       berada sangat rendah di bawah 1% memposisikan Perusahaan
 initiatives and capitalize on market opportunities. The strong           dengan baik untuk mendanai inisiatif pertumbuhan dan
 financial performance is expected to continue, supported by              memanfaatkan peluang pasar. Kinerja keuangan yang kuat
 the anticipated increase in charter rates and fleet utilization          diperkirakan akan terus berlanjut, didukung oleh peningkatan tarif
 in 2H2024.                                                               sewa dan utilisasi armada yang diantisipasi pada semester 2H2024.

 Managing Director Sugiman Layanto expressed confidence                   Sugiman Layanto, Direktur Utama Wintermar menyatakan
 in the coming years, in anticipation of continued strong                 keyakinannya di tahun-tahun mendatang, atas antisipasi
 demand for offshore support vessels driven by rising                     peningkatan permintaan kuat secara berlanjut untuk kapal
 investments in deepwater oil and gas projects. This is in line           pendukung lepas pantai yang didorong oleh peningkatan investasi
 with the Company’s strategy in recent years to focus the fleet           di proyek minyak dan gas deepwater. Hal ini sejalan dengan strategi
 on higher-value vessels including dynamic positioning                    Perusahaan dalam beberapa tahun terakhir untuk memfokuskan
 vessels. This positive outlook comes at a time when the                  armadanya pada kapal higher value (bernilai tinggi) termasuk kapal
 supply for OSVs remains tight due to the industry's downturn             dengan dynamic positioning. Prospek positif ini datang pada saat
 over the past years, which bodes well for sustained higher               pasokan untuk OSV tetap terbatas karena penurunan industri
 charter rates.                                                           selama beberapa tahun terakhir, yang menjadi pertanda baik untuk
                                                                          tarif sewa tinggi yang berkelanjutan.

 For the future, Wintermar will continue to focus on the                  Untuk kedepannya, Wintermar akan terus fokus pada akuisisi
 selective acquisition of higher-value vessels to improve                 selektif kapal higher value untuk meningkatkan profitabilitas armada
 overall fleet profitability. The Company is actively seeking             secara keseluruhan. Perusahaan secara aktif mencari peluang
 fleet expansion opportunities and is developing in house                 ekspansi armada dan mengembangkan aplikasi digital in house
 digital applications to enhance operational capacity through             untuk meningkatkan kapasitas operasional melalui teknologi.
 technology. Wintermar's strategy includes targeting high-tier            Strategi Wintermar termasuk menargetkan kapal high tier dan
 and specialized vessels to meet the increasing demand from               khusus untuk memenuhi permintaan yang meningkat dari proyek
 deepwater and ultra-deepwater projects. Additionally, the                deepwater dan ultra-deepwater. Selain itu, Perusahaan bertujuan
 Company aims to strengthen its presence in international                 untuk memperkuat kehadirannya di pasar internasional untuk
 markets to capitalize on higher charter rates and expanding              memanfaatkan tarif sewa yang lebih tinggi dan peluang yang
 opportunities.                                                           berkembang.



                                                        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.




                                              ISM Code & ISPS Compliant
                                                                                                                                    Page | 2
Page 3
 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. 107/NL/VI/2024
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
                                                                                                                                      Page | 3

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