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Wednesday, 30 June 21
DELTA DUNIA MAKMUR RECORDED AN IMPROVED REVENUE IN Q1 2021; REVENUE INCREASED BY 49% QOQ TO US$160 MILLION ON THE BACK OF COAL PRICE RECOVERY
 PT Delta Dunia Makmur Tbk. (“DOID”) released its consolidated financial and operating results that include its primary and wholly-owned subsidiary, PT Bukit Makmur Mandiri Utama (“BUMA”).
The Company recorded an improved volume of 25% QoQ to 65.0 million bcm and revenue increased by 49% QoQ to US$160 million on the back of coal price recovery that continued to strengthen at the beginning of 2021.
According to the report, overburden removal volume for 1Q 2021 was 65.0 million bcm, 25% higher from 52.1 million bcm recorded in 4Q 2020. Coal production was 12.7 million tonnes in 1Q 2021, 10% higher compared to 11.4 million tonnes in 4Q 2020. Volume recovery was visible in 1Q 2021, despite being affected by heavier rainfall and ramp up challenges. The Company is on track to meet volume target for the year.
The report further noted that, Net revenues for 1Q 2021 was US$160 million, 49% higher QoQ than US$108 million recorded in 4Q 2020. EBITDA was US$31 million for 1Q 2021, a 149% increase compared to US$13 million in 4Q 2020. Coal price recovery has led to higher rates despite volume not fully recovered yet. However, the Company incurred upfront costs related to recovery ramp up efforts and higher costs due to certain challenging work area. Therefore, EBITDA margin was impacted at 21.8%.
Net loss of US$26 million was recorded for 1Q 2021 compared to US$19 million net loss in previous quarter, given the Company incurred certain refinancing cost in 1Q 2021.
th report says, free cash flows generation was at US$13 million and operating cash flows was at US$27 million in 1Q 2021. This is mainly the result of ramp up activities that require upfront expenditures and transaction costs related to refinancing. Total capital expenditure spent was US$14 million for 1Q 2021. The Company expects higher capex spending for the year as we prepare for incremental volumes. Net debt5) was US$452 million as of March 31st, 2021 and the Company’s consolidated net debt to EBITDA ratio was 3.4x.
Given the strong recovery in coal price at the beginning of 2021, gradual volume recovery is expected for the rest of 2021 on the back of coal market 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.
In January 2021, BUMA entered into an extension agreement with IPR on its mine located in Tabang, the Kutai Kartanegara Regency, Province of East Kalimantan. The agreement extends the existing contract to December 2031, and includes a significant expansion of the work entailed, providing additional volume of over 650 million bcm of overburden removal, over 210 million tonnes of coal to be extracted and over 75 million tonnes of coal to be hauled.
In June 2021, BUMA also signed a new contract with Adaro for its Tutupan Mine Operation, located in Tabalong Districts, South Kalimantan and Barito Selatan Districts, Central Kalimantan. The term of the contract is until December 2025. Total volume of the contract is over 234 million bcm of overburden removal and over 44 million tonnes of coal to be extracted. Average annual production is expected to be within the range of 30- 70 million bcm of overburden removal and 5.0 – 12.0 million tonnes of coal.
On 10 February 2021, BUMA successfully issued a US$400 million 7.75% 5NC2 Senior Notes due 2026 (“Senior Notes 2026”). Concurrently, a tender offer and consent solicitation were completed in order to align terms of BUMA’s US$350 million 7.75% Senior Notes due 2022 (“Senior Notes 2022”) with that of Senior Notes 2026. Following transactions above, bank loans were fully settled, and full redemption of Senior Notes 2022 were completed by 31 March 2021.
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Friday, 28 June 24
INDIAN POWER STATIONS STOCKED WITH BUMPER COAL SUPPLY AS TRANSPORT WOES EASE - BUSINESS STANDARD
Even as power demand has touched a historic high of 250 gigawatts (Gw) amid sweltering heat this June, India’s power stations are stocked wit ...
Friday, 28 June 24
INDIA'S CY23 COAL USE LARGER THAN NORTH AMERICA, EUROPE COMBINED - THE HINDU
For the first time, India’s coal consumption surpassed that of North America and Europe combined in the calendar year 2023, said Energy Insti ...
Monday, 24 June 24
PLN'S FINANCIAL SUSTAINABILITY RESTS ON ACCELERATED COAL RETIREMENT AND RENEWABLES DEPLOYMENT - MUTYA YUSTIKA
On 28 May 2024, Indonesia’s national electricity utility, PT Perusahaan Listrik Negara (PLN), released its financial report for 2023. Althoug ...
Monday, 24 June 24
INDIA'S COAL-BASED POWER DEMAND AT ALL-TIME HIGH, GOVERNMENT SAYS - REUTERS
India’s demand for coal-based power has risen by 7.3% this fiscal year to an all-time high, the government said in a statement on Wednesday.
...
Monday, 24 June 24
CHINA'S COAL INDUSTRY TURNS GREENER THROUGH INNOVATIVE APPROACHES - PEOPLE'S DAILY
At an opencast mine operated by Inner Mongolia Pingzhuang Coal Group Co. Ltd., a subsidiary of CHN Energy Investment Group (CHN Energy), a 14-meter ...
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- Australian Coal Association
- Sarangani Energy Corporation, Philippines
- Minerals Council of Australia
- Coalindo Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Anglo American - United Kingdom
- Larsen & Toubro Limited - India
- Wood Mackenzie - Singapore
- Simpson Spence & Young - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Energy Development Corp, Philippines
- Parry Sugars Refinery, India
- Alfred C Toepfer International GmbH - Germany
- Vizag Seaport Private Limited - India
- Leighton Contractors Pty Ltd - Australia
- Tamil Nadu electricity Board
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bangladesh Power Developement Board
- Indian Oil Corporation Limited
- Kaltim Prima Coal - Indonesia
- Coastal Gujarat Power Limited - India
- Sakthi Sugars Limited - India
- London Commodity Brokers - England
- Cement Manufacturers Association - India
- Kumho Petrochemical, South Korea
- AsiaOL BioFuels Corp., Philippines
- Indogreen Group - Indonesia
- Petron Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Directorate Of Revenue Intelligence - India
- Maharashtra Electricity Regulatory Commission - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- ASAPP Information Group - India
- Asmin Koalindo Tuhup - Indonesia
- Economic Council, Georgia
- Samtan Co., Ltd - South Korea
- Mjunction Services Limited - India
- Price Waterhouse Coopers - Russia
- Chamber of Mines of South Africa
- Global Business Power Corporation, Philippines
- Mintek Dendrill Indonesia
- Ministry of Transport, Egypt
- Eastern Coal Council - USA
- GAC Shipping (India) Pvt Ltd
- Formosa Plastics Group - Taiwan
- Straits Asia Resources Limited - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GVK Power & Infra Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Aditya Birla Group - India
- PetroVietnam Power Coal Import and Supply Company
- Sojitz Corporation - Japan
- Maheswari Brothers Coal Limited - India
- Kalimantan Lumbung Energi - Indonesia
- MS Steel International - UAE
- Grasim Industreis Ltd - India
- Coal and Oil Company - UAE
- Global Coal Blending Company Limited - Australia
- Electricity Generating Authority of Thailand
- GMR Energy Limited - India
- SMG Consultants - Indonesia
- Indo Tambangraya Megah - Indonesia
- PowerSource Philippines DevCo
- Tata Chemicals Ltd - India
- PTC India Limited - India
- Star Paper Mills Limited - India
- Krishnapatnam Port Company Ltd. - India
- Makarim & Taira - Indonesia
- Carbofer General Trading SA - India
- Oldendorff Carriers - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Toyota Tsusho Corporation, Japan
- IEA Clean Coal Centre - UK
- Planning Commission, India
- The Treasury - Australian Government
- Intertek Mineral Services - Indonesia
- Xindia Steels Limited - India
- Banpu Public Company Limited - Thailand
- Binh Thuan Hamico - Vietnam
- Interocean Group of Companies - India
- Bukit Baiduri Energy - Indonesia
- Energy Link Ltd, New Zealand
- Parliament of New Zealand
- Thai Mozambique Logistica
- Kepco SPC Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Central Java Power - Indonesia
- India Bulls Power Limited - India
- Standard Chartered Bank - UAE
- Merrill Lynch Commodities Europe
- Siam City Cement PLC, Thailand
- Meralco Power Generation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Latin American Coal - Colombia
- LBH Netherlands Bv - Netherlands
- Renaissance Capital - South Africa
- Attock Cement Pakistan Limited
- Posco Energy - South Korea
- Metalloyd Limited - United Kingdom
- CIMB Investment Bank - Malaysia
- Mercuria Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- ICICI Bank Limited - India
- Wilmar Investment Holdings
- Borneo Indobara - Indonesia
- SMC Global Power, Philippines
- Antam Resourcindo - Indonesia
- PNOC Exploration Corporation - Philippines
- The University of Queensland
- Sindya Power Generating Company Private Ltd
- Semirara Mining and Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Goldman Sachs - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vedanta Resources Plc - India
- Singapore Mercantile Exchange
- Madhucon Powers Ltd - India
- Ambuja Cements Ltd - India
- Port Waratah Coal Services - Australia
- SN Aboitiz Power Inc, Philippines
- TeaM Sual Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Lanco Infratech Ltd - India
- Power Finance Corporation Ltd., India
- Bhoruka Overseas - Indonesia
- Ceylon Electricity Board - Sri Lanka
- VISA Power Limited - India
- Medco Energi Mining Internasional
- White Energy Company Limited
- Miang Besar Coal Terminal - Indonesia
- Heidelberg Cement - Germany
- Electricity Authority, New Zealand
- Globalindo Alam Lestari - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Riau Bara Harum - Indonesia
- Aboitiz Power Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- European Bulk Services B.V. - Netherlands
- Videocon Industries ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Bhushan Steel Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Mercator Lines Limited - India
- Essar Steel Hazira Ltd - India
- Gujarat Sidhee Cement - India
- Bulk Trading Sa - Switzerland
- Karaikal Port Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Mineral Development Corp Ltd - India
- Africa Commodities Group - South Africa
- Timah Investasi Mineral - Indoneisa
- Malabar Cements Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Mines - Canada
- Georgia Ports Authority, United States
- Iligan Light & Power Inc, Philippines
- South Luzon Thermal Energy Corporation
- Meenaskhi Energy Private Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Therma Luzon, Inc, Philippines
- Agrawal Coal Company - India
- New Zealand Coal & Carbon
- Kartika Selabumi Mining - Indonesia
- Australian Commodity Traders Exchange
- San Jose City I Power Corp, Philippines
- Bharathi Cement Corporation - India
- Gujarat Electricity Regulatory Commission - India
- Deloitte Consulting - India
- Bhatia International Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- McConnell Dowell - Australia
- Indonesian Coal Mining Association
- Bukit Makmur.PT - Indonesia
- Savvy Resources Ltd - HongKong
- Barasentosa Lestari - Indonesia
- Kobexindo Tractors - Indoneisa
- Dalmia Cement Bharat India
- Romanian Commodities Exchange
- Kapuas Tunggal Persada - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Cigading International Bulk Terminal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Marubeni Corporation - India
- Trasteel International SA, Italy
- Altura Mining Limited, Indonesia
- Rio Tinto Coal - Australia
- Orica Mining Services - Indonesia
- Jaiprakash Power Ventures ltd
- Sinarmas Energy and Mining - Indonesia
- Thiess Contractors Indonesia
- Independent Power Producers Association of India
- Manunggal Multi Energi - Indonesia
- Ministry of Finance - Indonesia
- Baramulti Group, Indonesia
- Eastern Energy - Thailand
- The State Trading Corporation of India Ltd
- Indika Energy - Indonesia
- Central Electricity Authority - India
- Edison Trading Spa - Italy
- Commonwealth Bank - Australia
- Bayan Resources Tbk. - Indonesia
- Salva Resources Pvt Ltd - India
- Siam City Cement - Thailand
- Jorong Barutama Greston.PT - Indonesia
- Indian Energy Exchange, India
- Karbindo Abesyapradhi - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sical Logistics Limited - India
- CNBM International Corporation - China
- Orica Australia Pty. Ltd.
- Pendopo Energi Batubara - Indonesia
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