PT Logindo Samudramakmur Tbk. Booked Y2014 Net Profit of US$ 19.98 million

Jakarta, February 27, 2015 – Today PT Logindo Samudramakmur Tbk. – an offshore support services company supporting the oil and gas industry, announced the Company’s Y2014 financial performance. The Company’s book has been audited by KAP Purwantono, Suherman & Surja (Ernst & Young)..

President Director of the Company, Eddy K. Logam, stated “The Company’s revenue in 2014 reached US$ 69 million, an increase of 17% from the previous year’s revenue, while net profit was US$ 19.98 million, up by 21.4% from Y2013 net income. This achievement is the result of our strategy to purchase and operate 5 bigger horsepower ships that has contributed 40% of the total revenue in 2014. The Company also managed to get some new customers to diversify and expand the customer base”.

Eddy added, “We are grateful to Almighty God and thanking the Customers for their trust and support that enables the Company to grow healthily in last year. Although the planned purchase of four (4) units of ships was realized only two (2) ships, the Company still posted a net profit increase from the previous year by 21.4% “.
In the midst of declining oil price environment to a very low level lately, Eddy remains optimistic about the development of the oil & gas industry in Indonesia. “Oil and gas industry has a long business cycle. From the beginning of the stage of exploration, development & construction to production will take more than 5 years. Especially for Indonesia whereby oil production continues falling while consumption is increasing, then it has to immediately increase the exploration process to improve the reserve replacement ratio massively in order to be able to become an energy self-sufficent country.

Serious efforts to convert the usage of oil to gas should continue to be pursued, and at the same time the new exploration process is expected to also find gas reserves in adittion to oil reserves”.

About PT Logindo Samudramakmur Tbk.

Since its inception in 1995, PT Logindo Samudramakmur Tbk has a vision to lead the revival of the Indonesia’s maritime sector by providing best solutions with integrity. By time, the type and size of the Company’s fleet has grown significantly.

Currently PT Logindo Samudramakmur Tbk owns and operates 60 ships of various types such as: Anchor Handling Tug Vessel, Anchor Handling Tug and Supply Vessel, Platform Supply Vessel, Accommodation Work Barge, Diving Support Vessel, Landing Craft Transport, etc that will be rejuvenated continuously.

For further information, please contact:

PT Logindo Samudramakmur Tbk.

Head Office Graha Corner Stone

Jl. Rajawali Selatan II No. 1

Jakarta Pusat – 10720

Phone : +62 21 6471 3088

Fax : +62 21 6471 3220

Attention : Corporate Secretary / Investor Relation

Email : corporate@logindo.com

Website : www.logindo.com

Branch

Komp. Balikpapan Baru Blok G1 No. 7

Balikpapan, Kalimantan Timur – 76114

Phone : +62 542 872 090

Fax : +62 542 876 963

 

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