Indonesia, March 18 -- Wintermar's Operating Profit for FY2025 jumped by 31% YOY to US$23.3 million, reflecting margin expansion through a better fleet mix. Core Profit increased by 19.2% YOY to US$18 million.

Owned Vessel Division

Owned vessel revenue rose by 13.8% YOY to US$70.7 million as gross margins for Owned Vessels widened to 41.7% for FY2025 compared to 36.1% in FY2024 despite softer charter rates and lower offshore activity in 2025. Utillization in 2025 was lower than 2024 arising from geopolitical concerns and the early stage of most drilling projects which are shorter term in nature. However, this was compensated by higher revenue from having more Dynamic Positioning (DP) equipped vessels. The Company operated a larger numbe...