ABM Investama?s 2013 profit drops
Thursday, April 3 2014 - 03:36 PM WIB
IDX-listed integrated energy firm PT ABM Investama, booked a net profit of US$4.6 million in 2013, significantly lower than the profit of $13.64 million booked in the previous year.
Sales reached $777.02 million in 2013, down from $886.97 million in the previous year.
?We realize that the condition of mining industry, particularly coal, is still weak. That?s why the company will seek to strengthen the internal business process, system and financing of all our subsidiaries,? Andi Djajanegar, ABM?s President Director, said in a statement Thursday.
Contracting and coal mining, service and manufacturing contributed 58.05 percent, 36.73 percent and 5.21 percent to the firm?s sales last year.
Contracting and coal mining business booked $451.16 million in sales last year. Despite the market downturn, ABM?s subsidiary PT Reswara Minergi Hartama booked a record production of 5.3 million tons last year, a 14 percent increase compared to the previous year.
Service business generated $285.38 million in revenue last year, with machine and power generator leasing contributing $132.92 million. Meanwhile, logistics and vessel leasing business generated $101.30 million.
Editing by Johannes Simbolon