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Friday, 28 April 17
DELTA DUNIA RECORDED $24 MILLION NET PROFIT FOR FIRST QUARTER OF 2017; UP 700% Y/Y
 COALspot.com: PT Delta Dunia Makmur Tbk. has announced its financial results for the first quarter of 2017 yesterday. According to the company’s announcement, the Company has booked a net profit of USD 24 million in the 1st quarter of 2017 up 700% compared to net profit of USD 3 million in the first quarter of 2016. The company further said, the Q1 2017 net profit is the highest quarterly net profit in the history of the Company and BUMA.
The Company delivered 83.2 million bcm of overburden removal and 10.2 million tonnes of coal, an increase of 36% and 31% respectively compared to the same period last year.
The net revenue of the company also increased by 43% from USD 127 million in Q1 2016 to USD 181 million in Q1 2017 as the results of higher volume and higher mining service rate due to the recovery of coal price.
EBITDA of the company, significantly improved from USD 39 million to USD 70 million, translating into an EBITDA margin of 40.3%, a reflection of the higher revenue as well as improved productivity and cost efficiencies. Cash flows remained very strong, allowing the Company to finance its capital expenditure of USD 20 million in Q1 2017 through internal cash, and continued reducing outstanding debt by USD13 million. Meantime, the company said, as of March 31, 2017, net debt of the company was at USD 504 million, with net debt to EBITDA ratio of 2.0x.
With robust contracts on hand and the recovery of coal price, the Company will continue to focus on the execution of ramping up its production volume. Management believes that the Company is on track to deliver profitable growth and solid performance in 2017, the company’s press release concluded.
About PT Delta Dunia Makmur Tbk.
PT Delta Dunia Makmur Tbk. is a holding company with an investment focus on mining services. Through its wholly owned subsidiary, PT Bukit Makmur Mandiri Utama (BUMA), Delta Dunia Makmur is now the largest pure play mining contractor listed on the Indonesian Stock Exchange.
BUMA is the second largest coal mining contractor in Indonesia, providing mining services under long-term operating agreements with some of Indonesia's largest coal producers, such as PT Berau Coal, PT Adaro Indonesia, PT Kideco Jaya Agung and certain subsidiaries of PT Bayan Resources.
BUMA's full range of coal mining services include mining infrastructure development and construction, land clearing, removal of top soil, drilling and blasting, overburden removal, coal mining, hauling, reclamation and rehabilitation of mine sites. (Source: the company's website)
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Monday, 24 June 24
PHILIPPINES COAL SUPPLY ENOUGH UNTIL 2030 - PHILSTAR GLOBAL
The country’s existing coal-fired power plants are sufficient to ensure enough base load capacity in the next six years, Energy Secretary Rap ...
Friday, 14 June 24
NEXTDECADE, SAUDI ARAMCO SIGN 20-YEAR LNG SUPPLY DEAL - REUTERS
U.S. liquefied natural gas (LNG) provider NextDecade has signed a non-binding agreement with Saudi Aramco 2222.SE to supply 1.2 million tonnes per ...
Friday, 14 June 24
NEWBUILDING PRICES CLIMB 3% TO HIGHEST LEVEL IN 16 YEARS - NIELS RASMUSSEN
“Since the start of the year, newbuilding prices have risen 3% to their highest level since 2008. Compared to their most recent low in late 2 ...
Friday, 14 June 24
INDIA TARGETS HIGHER DOMESTIC COAL PRODUCTION, REDUCED IMPORTS: GOVT - REUTERS
India wants to reduce coal imports and increase domestic production, federal coal minister G. Kishan Reddy said on Thursday.
The cou ...
Thursday, 13 June 24
US LNG TO ASIA FOR POWER GENERATION EXPECTED TO CUT EMISSIONS VERSUS COAL - RYSTAD ENERGY
The value-chain emissions of liquified natural gas (LNG) are lower on average than for coal-fired power generation, even when the fuel is shipp ...
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