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Tuesday, 01 June 21
BUMA PRODUCED 11.4 MILLION TONNES OF COAL IN 4Q 2020, 5% LOWER COMPARED TO 12.2 MILLION TONNES IN 4Q 2019
 PT Delta Dunia Makmur Tbk. presents its newsletter with consolidated financial and operating results that include its primary and wholly-owned subsidiary, PT Bukit Makmur Mandiri Utama (“BUMA”).
According to the website of the company, PT Delta Dunia Makmur Tbk. or more commonly referred to as Delta Dunia is a publicly listed company established under the laws of the Republic of Indonesia and domiciled in Jakarta. The Company’s shares have been listed on the Jakarta Stock Exchange (currently Indonesia Stock Exchange) (“IDX”) since June 15, 2001. The Company was originally established on November 26, 1990 under the name of PT Daeyu Poleko Indonesia. Since then the Company has undergone several name changes over the years, and lastly, was named PT Delta Dunia Makmur Tbk. in 2009.
In November 2009, the Company acquired 99.9% shares of BUMA and subsequently, divested its property business. Since then, the Company’s main business has been focused on coal mining contractor services.
As a holding company, the Company has an operational subsidiary, PT Bukit Makmur Mandiri Utama (“BUMA”), which is one of the largest coal-mining contractors in Indonesia by production volume. While its other two subsidiaries, namely PT Banyubiru Sakti (“BBS”) and PT Pulau Mutiara Persada (“PMP”) are non-active entities previously holding coal exploration permits.
PT Delta Dunia Makmur recorded an improved EBITDA margin YoY of 29.4% for FY 2020, despite 31% decline of EBITDA YoY of US$164 million on the back of COVID-19 pandemic and prolonged weakness in the coal market throughout 2020, the company said in its latest newsletter.
According to the report, overburden removal volume for 4Q 2020 was 52.1 million bcm, 34% lower from 79.0 million bcm recorded in 4Q 2019. Coal production was 11.4 million tonnes in 4Q 2020, 5% lower compared to 12.2 million tonnes in 4Q 2019. Volume was weaker as customer tends to curb volume growth towards the end of 2020, given the overall lower demand from impact of COVID-19 pandemic. As rainy season has started, there has been increase in rain hours which also impacted Q4 2020 volume. Despite coal price starting to show recovery toward end of 2020, volume recovery is expected to lag.
The report further noted that, net revenues of the company for 4Q 2020 was US$108 million, 44% lower YoY than US$191 million recorded in 4Q 2019. EBITDA was US$13 million for 4Q 2020, a 68% decrease compared to US$39 million in 4Q 2019. Lower revenues were mainly the impact of low rates and certain relief measures provided to customers for mutual sustainability amid weakness in coal market. In anticipation of expected volume recovery in 2021, the Company also incurred upfront costs for reactivation of equipment and people in Q4 2020, further impacting EBITDA.
Net loss of US$19 million was recorded for 4Q 2020 compared to US$8 million net loss in previous year. The pandemic has weakened the global and coal market throughout 2020, affecting the Company’s profitability from slower business activities, despite aggressive cost efficiency measures taken to address the issue.
With prudent liquidity preservation measures, the company said, cash flows remained strong with free cash flows generation at US$234 million and operating cash flows at US$153 million in FY 2020. Total capital expenditure spent was US$24 million for FY 2020, 67% lower compared to the same period last year as we optimized existing capacity. With net debt of US$425 million as of December 31 st, 2020, the Company’s consolidated net debt to EBITDA ratio was 2.2x.
Given the rebound in coal price towards the end of the year which continued to strengthen in the beginning of 2021, gradual volume recovery is expected in 2021 on the back of coal improvement. The Company shall remain focused on securing new contracts, liquidity preservation, optimization of existing assets and cost reduction to gain momentum and seize opportunities as market recovers.
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Wednesday, 22 March 23
MARKET INSIGHT - INTERMODAL
The crude tanker market continues to gather momentum as we head towards the end of 1Q2023, against a backdrop of strong U.S. exports paired with a ...
Wednesday, 22 March 23
WILL LOWER GAS PRICES SPARK SWITCHING IN EUROPE AND ASIA?
Record high prices devastated demand for gas and LNG across Asia and Europe last year. But with prices falling, companies are starting to re-evalua ...
Monday, 20 March 23
NTPC MULLS 5.4 MILLION TONNES COAL IMPORT IN FIRST HALF OF 2023-24: PTI
State-run power giant NTPC is planning to import around 5.4 million tonnes of coal to meet the supply shortage during the first half 2023-24 fiscal ...
Monday, 20 March 23
S. AFRICA’S EXXARO RESOURCES SAYS COAL PRICES COOLING OFF - REUTERS
South Africa’s Exxaro Resources on Thursday posted a 28% jump in 2022 profit after seeing average coal prices surge more than 150%, but warne ...
Saturday, 18 March 23
RUSSIAN LNG EXPORTS TO EUROPE REMAIN HIGH - VESSELS VALUE
Russian LNG exports to Europe remained at very high levels in February at 3.6 million CBM, following a 13 month high in January of 4.1 million CBM. ...
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- Vedanta Resources Plc - India
- Indian Energy Exchange, India
- Jindal Steel & Power Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Salva Resources Pvt Ltd - India
- Standard Chartered Bank - UAE
- VISA Power Limited - India
- Trasteel International SA, Italy
- Meenaskhi Energy Private Limited - India
- London Commodity Brokers - England
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kapuas Tunggal Persada - Indonesia
- Ministry of Mines - Canada
- Riau Bara Harum - Indonesia
- Dalmia Cement Bharat India
- Kalimantan Lumbung Energi - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- PNOC Exploration Corporation - Philippines
- Bhoruka Overseas - Indonesia
- CNBM International Corporation - China
- Siam City Cement PLC, Thailand
- Jaiprakash Power Ventures ltd
- Wood Mackenzie - Singapore
- Pendopo Energi Batubara - Indonesia
- Manunggal Multi Energi - Indonesia
- Sical Logistics Limited - India
- Singapore Mercantile Exchange
- Romanian Commodities Exchange
- Directorate Of Revenue Intelligence - India
- India Bulls Power Limited - India
- Electricity Generating Authority of Thailand
- Central Java Power - Indonesia
- Thai Mozambique Logistica
- Gujarat Electricity Regulatory Commission - India
- Semirara Mining and Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Agrawal Coal Company - India
- Grasim Industreis Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Barasentosa Lestari - Indonesia
- GMR Energy Limited - India
- Goldman Sachs - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Banpu Public Company Limited - Thailand
- Madhucon Powers Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Rio Tinto Coal - Australia
- TeaM Sual Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- Kaltim Prima Coal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Electricity Authority, New Zealand
- OPG Power Generation Pvt Ltd - India
- Borneo Indobara - Indonesia
- Coal and Oil Company - UAE
- Bhatia International Limited - India
- Mercuria Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- The State Trading Corporation of India Ltd
- Cigading International Bulk Terminal - Indonesia
- Bulk Trading Sa - Switzerland
- Billiton Holdings Pty Ltd - Australia
- Independent Power Producers Association of India
- Attock Cement Pakistan Limited
- Bahari Cakrawala Sebuku - Indonesia
- Sarangani Energy Corporation, Philippines
- Medco Energi Mining Internasional
- AsiaOL BioFuels Corp., Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Iligan Light & Power Inc, Philippines
- Posco Energy - South Korea
- Meralco Power Generation, Philippines
- Simpson Spence & Young - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Renaissance Capital - South Africa
- Bayan Resources Tbk. - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Parry Sugars Refinery, India
- Globalindo Alam Lestari - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Eastern Coal Council - USA
- Binh Thuan Hamico - Vietnam
- SMG Consultants - Indonesia
- ASAPP Information Group - India
- IHS Mccloskey Coal Group - USA
- Energy Link Ltd, New Zealand
- Global Business Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Lanco Infratech Ltd - India
- Merrill Lynch Commodities Europe
- Videocon Industries ltd - India
- Coalindo Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- International Coal Ventures Pvt Ltd - India
- Mjunction Services Limited - India
- Siam City Cement - Thailand
- GAC Shipping (India) Pvt Ltd
- Intertek Mineral Services - Indonesia
- Australian Commodity Traders Exchange
- Edison Trading Spa - Italy
- Australian Coal Association
- Ind-Barath Power Infra Limited - India
- Savvy Resources Ltd - HongKong
- Metalloyd Limited - United Kingdom
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Orica Mining Services - Indonesia
- Gujarat Sidhee Cement - India
- Marubeni Corporation - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Neyveli Lignite Corporation Ltd, - India
- Toyota Tsusho Corporation, Japan
- Indika Energy - Indonesia
- Ministry of Transport, Egypt
- Latin American Coal - Colombia
- Samtan Co., Ltd - South Korea
- Kumho Petrochemical, South Korea
- Central Electricity Authority - India
- TNB Fuel Sdn Bhd - Malaysia
- Timah Investasi Mineral - Indoneisa
- SN Aboitiz Power Inc, Philippines
- Orica Australia Pty. Ltd.
- Global Green Power PLC Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- PTC India Limited - India
- Ceylon Electricity Board - Sri Lanka
- Karaikal Port Pvt Ltd - India
- Bangladesh Power Developement Board
- Cement Manufacturers Association - India
- GVK Power & Infra Limited - India
- Maheswari Brothers Coal Limited - India
- Interocean Group of Companies - India
- South Luzon Thermal Energy Corporation
- Bukit Makmur.PT - Indonesia
- The Treasury - Australian Government
- Rashtriya Ispat Nigam Limited - India
- Krishnapatnam Port Company Ltd. - India
- PowerSource Philippines DevCo
- Sinarmas Energy and Mining - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Energy Development Corp, Philippines
- Coastal Gujarat Power Limited - India
- Therma Luzon, Inc, Philippines
- Port Waratah Coal Services - Australia
- Kartika Selabumi Mining - Indonesia
- Economic Council, Georgia
- Georgia Ports Authority, United States
- Tamil Nadu electricity Board
- Directorate General of MIneral and Coal - Indonesia
- Semirara Mining Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Malabar Cements Ltd - India
- Deloitte Consulting - India
- Petron Corporation, Philippines
- Larsen & Toubro Limited - India
- Mercator Lines Limited - India
- Tata Chemicals Ltd - India
- Price Waterhouse Coopers - Russia
- CIMB Investment Bank - Malaysia
- Kobexindo Tractors - Indoneisa
- Bhushan Steel Limited - India
- Thiess Contractors Indonesia
- White Energy Company Limited
- ICICI Bank Limited - India
- New Zealand Coal & Carbon
- Star Paper Mills Limited - India
- Eastern Energy - Thailand
- Carbofer General Trading SA - India
- Indian Oil Corporation Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- Formosa Plastics Group - Taiwan
- Heidelberg Cement - Germany
- Wilmar Investment Holdings
- Ministry of Finance - Indonesia
- Bharathi Cement Corporation - India
- Chamber of Mines of South Africa
- McConnell Dowell - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Kideco Jaya Agung - Indonesia
- Antam Resourcindo - Indonesia
- MS Steel International - UAE
- Indonesian Coal Mining Association
- The University of Queensland
- Aboitiz Power Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- Sindya Power Generating Company Private Ltd
- Indogreen Group - Indonesia
- Power Finance Corporation Ltd., India
- Alfred C Toepfer International GmbH - Germany
- Sakthi Sugars Limited - India
- Baramulti Group, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Sojitz Corporation - Japan
- Mintek Dendrill Indonesia
- Makarim & Taira - Indonesia
- Aditya Birla Group - India
- Parliament of New Zealand
- Minerals Council of Australia
- San Jose City I Power Corp, Philippines
- Uttam Galva Steels Limited - India
- Global Coal Blending Company Limited - Australia
- Planning Commission, India
- Vijayanagar Sugar Pvt Ltd - India
- Xindia Steels Limited - India
- Bukit Baiduri Energy - Indonesia
- SMC Global Power, Philippines
- LBH Netherlands Bv - Netherlands
- Africa Commodities Group - South Africa
- Oldendorff Carriers - Singapore
- Altura Mining Limited, Indonesia
- Commonwealth Bank - Australia
- Sree Jayajothi Cements Limited - India
- Anglo American - United Kingdom
- Vizag Seaport Private Limited - India
- Kepco SPC Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- Ambuja Cements Ltd - India
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