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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, 08 May 17
US WEEKLY COAL OUTPUT ON THE DOWN - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 13.8 million short tons ...
Thursday, 04 May 17
SUPRAMAX: INDO COAL ROUNDS LEVELS WITH DELIVERY CHINA IS TRADING AROUND LOW $6K, TRIP BACK TO CHINA
Supramax
The short week brought weaker rates across all routes. Supras from USG to Japan were fixed around $19-20 k daily and from ECSA to ECI $1 ...
Wednesday, 03 May 17
MALAYSIA SEEMS AS BIGGEST ADARO COAL IMPORTER IN Q1' 17
COALspot.com: In 1Q17, 30% of Adaro's sales went to Indonesia, the data from unaudited consolidated financial statement shows.
Malaysia ca ...
Wednesday, 03 May 17
MARKET INSIGHT - STELIOS KOLLINTZAS
The overall performance of each sector within the edible oil markets has remained poor for the past weeks. Apart from the veg oil exports fro ...
Tuesday, 02 May 17
THE FREIGHT MARKET CONTINUE TO SLUMP THIS PAST WEEK
COALspot.com: The Freight market continues to slump this past week, as all segments except Handy Size show a negative downward trend.
The Balt ...
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