Jakarta, May 3rd, 2012 – PT Radiant Utama Interinsco Tbk (IDX: RUIS) today announces its financial performance for fiscal year ended March 31st, 2012. Our net profit increased 210.5% to Rp 10.5 billion and earnings per share also increased 210.5% to Rp 13.6. The increase was mainly due to higher revenue which raised by 17.6% yoy to Rp 315.5 billion and almost the entire division contributes higher revenue compared to 1Q11. Moreover, our EBITDA climbed 99.6% to a record of Rp 46.3 billion. In line with higher net profit, our
profitability also improved as the gross and operating margin increased to 17.1% and 10.3% in 1Q12 while the net margin increased to 3.3% from only 1.3% in 1Q11. Meanwhile, the company’s total assets significantly increased to Rp 1,026.3 billion in 1Q12 from Rp 684.6 billion in 1Q11. The increase was mainly due to higher fixed asset and account receivables. Our total liabilities increased 71.9% or Rp 803 billion to Rp 467.2 billion y-o-y, primarily because of greater loan amounts while the company raised a new loan to fund MOPU acquisition
profitability also improved as the gross and operating margin increased to 17.1% and 10.3% in 1Q12 while the net margin increased to 3.3% from only 1.3% in 1Q11. Meanwhile, the company’s total assets significantly increased to Rp 1,026.3 billion in 1Q12 from Rp 684.6 billion in 1Q11. The increase was mainly due to higher fixed asset and account receivables. Our total liabilities increased 71.9% or Rp 803 billion to Rp 467.2 billion y-o-y, primarily because of greater loan amounts while the company raised a new loan to fund MOPU acquisition
Radiant Utama Interinsco generated strong revenue growth of 17.6% y-o-y or Rp 268.2 billion to Rp 315.5 billion for the fiscal year ended March 31st, 2011 due to higher revenue from almost of the divisions. The Inspection Division contributes the highest increment this year which increased 52.6%.
Operation Support division, the largest contributor to the company’s revenue, booked revenue of Rp 219.1 billion or increased 27.3% yoy. The increase was mainly due to our clients increased the utilization of our projects and the company also won some huge projects in the past six months. We believe the revenue from this division will increase higher in 2012, as the division has onhand contract with total value of Rp 1.2 trillion up to 1Q12.
Operation Support division, the largest contributor to the company’s revenue, booked revenue of Rp 219.1 billion or increased 27.3% yoy. The increase was mainly due to our clients increased the utilization of our projects and the company also won some huge projects in the past six months. We believe the revenue from this division will increase higher in 2012, as the division has onhand contract with total value of Rp 1.2 trillion up to 1Q12.
Moreover, the company has secured new contract of Rp 348.9 billion up to March 2012. Currently, the division contribute 69.5% of total revenue in 1Q12. Offshore division reported that revenue increased 10.5% yoy to Rp 60.1 billion in 1Q12. The increment was due to impact from new daily rates for the operation of Mobile Offshore Production Unit (MOPU) since the company acquired MOPU from our partner and the daily rates increased to $41,000. We believe the revenue from this division will steady increase in the future as with the new contract the daily rate will increase by 7.5% every 2 years starting 1st August 2011.
The revenue from Inspection division increased significantly of 52.6% to Rp 33.9 billion due to the increment of oil and gas companies activities due to raise of oil price which positively affected inspection division. Furthermore, the inspection division won some projects with significant value in 1Q12 from several oil and gas companies.
Meanwhile, the revenue from Others Services decreased to Rp 2.4 billion in 1Q12, the declined due to a lower number of new projects in Technical Training and Environmental Study.
Meanwhile, the revenue from Others Services decreased to Rp 2.4 billion in 1Q12, the declined due to a lower number of new projects in Technical Training and Environmental Study.