Marco Polo Marine H2 net profits surged nearly 77%

Growth was driven by its ship chartering and shipyard segments.

Marine logistics company Marco Polo Marine reported a net profit surge of 76.7% year-on-year (YoY) to $19.9m driven by higher revenues from both its Ship Chartering and Shipyard segments, as well as a strong expansion in gross profit margins.

The group’s EBITDA rose 55.8% YoY to $28.2m in H2 FY2023, compared to $18.1m in H2 FY2022. The group’s adjusted net profit to owners jumped 47.4% YoY to $17.1m, compared to $11.6m a year ago.

For FY2023, the group’s EBITDA grew by 78.9% YoY to $43.3m on the back of a 47.6% jump in revenue. Consequently, the group’s adjusted net profit to owners also increased to $25.2m in FY2023, compared to $13.8m in FY2022.

“FY2023 has been a year of significant growth for Marco Polo Marine. These achievements underscore our effective expansion and collaborative efforts in the offshore marine industry, and we are also particularly excited about the progress we have made in the offshore wind farm sector,” said Sean Lee, CEO of Marco Polo Marine.

Reaching the people who run Asia's businesses is harder than it used to be.

Inboxes are crowded. Attention is short. The executives you most want to reach — the founders, CFOs, and operators who actually move budgets — are the hardest to find through the usual channels. If you're building a company, a category, or a reputation, you already know this.

We've spent twenty years building the room they read. Singapore Business Review is where senior decision makers in Singapore and across Southeast Asia come for business coverage they can't get elsewhere — in print, online, and in person at the summits and roundtables we host across seven markets.

If you have something these readers should know about — a point of view worth publishing, a product worth their attention, an event worth their time — we'd like to hear what you're trying to do.

Book a meeting

| Or download the media kit (PDF)

240,000 senior readers quarterly in print Top 1,700 Singapore companies reached

7 markets across Southeast Asia