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WINS recovered from last year’s loss, now profiting

02 November 2021 08:38

JAKARTA – Although PT Wintermar Offshore Marine Tbk’s (WINS) revenue sloped in Q3 2021, the company still managed to end up with a USD 0.49 million profit. It increased from a loss of USD 7.44 million reported in the same period last year.

In the information disclosure, quoted Tuesday (2/11), Pek Swan Layanto, Investor Relation of Wintermas Offshore Marine, confirmed that the WINS’s total revenue amounted to USD 30.18 million, slipping off 4%  from USD 31.40 million in Q3 2021. The most extensive contributor to the revenue is the owned vessel segment, which brought in USD 24.42 million. Then, the chartering followed with USD 4.15 million, while the other scored USD 1.61 million.

“From July to August 2021, the Vessel Division noticed a slight downturn due to the Delta variant of COVID-19 that adversely hit Indonesia, thus affecting our operations in Asia. Some [crews] of the ships got infected, while the crew swap got delayed to the quarantine and mobility restriction. These led to ships that did not operate as planned,”  Layanto explained in the information disclosure earlier today (2/11).

According to Layanto, the company successfully cut down indirect costs to USD 3.92 million from USD 4.5 million. This resulted from selling some of the less efficient vessels and reducing overhead costs.

“The measures to streamline the fleets and reducing gearing had turned the company from suffering losses within the past years to a profitable company,” he claimed. (LK/ZH)

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