Banpu reports stronger revenue from RI operation
Wednesday, May 17 2017 - 01:58 AM WIB
Petromindo|Boim
Thai firm Banpu Plc reported a stronger revenue from its Indonesian coal mining operation in the first quarter of this year thanks primarily to higher average selling price of its coal amid recovery in the global coal market.
The company said in a statement obtained Wednesday that coal sales revenue in the first quarter of this year increased to US$357.72 million compared to $330.77 million. Meanwhile, gross profit rose to $166.69 million from $111.60 million.
?Indonesia coal operation gained full benefit from market recovery during late of last year,? Banpu said in the statement. The performance in the first quarter period was led by a higher average selling price (ASP) by 41 percent year-on-year (YoY) and 10 percent quarter-on-quarter (QoQ) at $69.32 per ton.
The company said that the strong ASP helped sustain the revenue which was affected by a seasonally lower sale volume.
?The resilient outlook of coal market in this year has also allowed key open-pit operations including Indominco, Trubaindo and Bharinto to optimize their production plan by extracting coal from deeper mining areas,? the company said.
Banpu runs its coal mining business in Indonesia through subsidiary IDX-listed PT Indo Tambangraya Megah Tbk (ITMG), which has five coal mine units including PT Indominco Mandiri, PT Trubaindo Coal Mining, PT. Bharinto Ekatama, PT. Kitadin and PT Jorong Barutama Greston.
| Production (M. tonnes) | 1Q17 | 4Q16 | 1Q16 |
| Indominco - West Block | 0.30 | 0.43 | 0.71 |
| Indominco - East Block | 2.88 | 3.39 | 2.81 |
| Trubaindo | 1.04 | 1.52 | 0.95 |
| Bharinto | 0.51 | 0.65 | 0.38 |
| Jorong | 0.21 | 0.28 | 0.26 |
| Kitadin-Embalut | 0.20 | 0.11 | 0.29 |
| Total Production | 5.15 | 6.38 | 5.41 |
| Coal Sales (M. tonnes) | 1Q17 | 4Q16 | 1Q16 |
| Indominco - West Block | 0.18 | 0.45 | 0.59 |
| Indominco - East Block | 2.98 | 3.28 | 3.27 |
| Trubaindo | 1.09 | 1.54 | 1.53 |
| Bharinto | 0.52 | 0.74 | 0.59 |
| Jorong | 0.21 | 0.27 | 0.43 |
| Kitadin-Embalut | 0.18 | 0.11 | 0.29 |
| Kitadin-Tandung Mayang | ? | ? | 0.04 |
| Total Coal Sales | 5.16 | 6.38 | 6.73 |
| Revenue (M. USD) | 1Q17 | 4Q16 | 1Q16 |
| Indominco - West Block | 202.50 | 204.68 | 173.80 |
| Trubaindo | 93.21 | 119.18 | 93.11 |
| Bharinto | 41.57 | 58.95 | 33.95 |
| Jorong | 9.62 | 10.83 | 15.52 |
| Kitadin-Embalut | 10. | 7.75 | 13.02 |
| Kitadin-Tandung Mayang | - | - | 1.37 |
| Total Revenue | 357.72 | 401.39 | 330.77 |
| Gross Profit (M. USD) | 1Q17 | 4Q16 | 1Q16 |
| Indominco - West Block | (106.43) | (96.55) | (122.09) |
| Trubaindo | (51.12) | (67.91) | (55.00) |
| Bharinto | (19.87) | (26.01) | (22.04) |
| Jorong | (6.29) | (7.21) | (8.08) |
| Kitadin-Embalut | (7.32) | (4.86) | (10.81) |
| Kitadin-Tandung Mayang | - | - | (10.81) |
| Total Gross Profit | (191.03) | (202.54) | (1.16) |
Editing by Reiner Simanjuntak