Banpu reports lower revenue on weak coal price
Friday, August 14 2015 - 02:12 AM WIB
Thai firm Banpu Pcl said that while its Indonesian coal miners delivered strong sales volume in the second quarter of this year, revenue declined by 9 percent to US$399 million compared to the first quarter on lower coal price.
The company said in a statement Thursday that average selling price fell by 5 percent to $57.19 per ton quarter-on-quarter (QoQ).
Meanwhile, cost of sale increased marginally by 2 percent QoQ to $39.11 per ton mainly due to an increase in diesel price by 8 percent QoQ to $0.61 per liter. As a result, the gross profit margin (GPM) was reported at 32 percent compared to 37 percent in the previous quarter.
Banpu runs its coal mining business in Indonesia through subsidiary IDX-listed PT Indo Tambangraya Megah Tbk, which has five coal mine units including PT Indominco Mandiri, PT Trubaindo Coal Mining, PT. Bharinto Ekatama, PT. Kitadin and PT Jorong Barutama Greston.
| ? | 2Q15 | 1Q15 | 2Q14 |
| Production (M tonnes) | |||
| Indominco?‐?West Block | 0.26 | 0.21 | 0.60 |
| Indominco?‐?East Block | 3.07 | 3.23 | 2.74 |
| Trubaindo | 1.68 | 1.69 | 1.52 |
| Bharinto | 0.59 | 0.50 | 0.62 |
| Jorong | 0.32 | 0.30 | 0.33 |
| Kitadin?‐?Embalut | 0.27 | 0.27 | 0.30 |
| Kitadin?‐?Tandung Mayang | 0.73 | 0.62 | 0.41 |
| Total | 6.92 | 6.81 | 6.52 |
| Coal sales volume (M tonnes) | |||
| Indominco?‐?West Block | 0.26 | 0.29 | 0.49 |
| Indominco?‐?East Block | 2.70 | 3.25 | 2.92 |
| Trubaindo | 1.70 | 1.92 | 1.70 |
| Bharinto | 0.71 | 0.51 | 0.58 |
| Jorong | 0.40 | 0.30 | 0.24 |
| Kitadin?‐?Embalut | 0.33 | 0.27 | 0.24 |
| Kitadin?‐?Tandung Mayang | 0.67 | 0.56 | 0.54 |
| Total | 6.78 | 7.10 | 6.70 |
Editing by Reiner Simanjuntak