Bumi Resources: Q1 results highlight

Changes Q1 07 over Q1 06 are :

Gross Sales up by + 33% ( $ 637 mn from $ 480 mn)

Net Sales up by + 36%   ( $578 mn from $425 mn)

Gross Profit by + 116%  ( $ 200 mn from $ 92 mn)

Operating income by + 154% ($ 112 mn from $ 44 mn)

EBITDA by + 102% ( $ 132 mn from $ 65 mn)

Net Income by + 225% ( $ 80.2 mn from $24.7 mn)

 

Metrics

Coal Conveyed up by + 28% ( 13.9 MT from 10.8 MT)

Sales Volume up by + 26% ( 14.5 MT from 11.5 MT)

FOB Price up by + 5% ($ 41.69/ton from $ 39.78/ton)

 

Production Cash Costs dropped by 12% ( $ 25.82/ton from $ 29.34/ton) on coal conveyed - due to lower strip ratio by 9% (ie 9.5 from 10.4), lower fuel costs and fleet optimization by relocation of mining contractors.

 

All in all, a record performance reflecting the buoyancy of the coal market, our in house efficiency measures, including strategic stockpiling in end 2006, which protected Q107 sales.

 

A robust start to 2007-bodes very well for the rest of the year.(*)

 

Source: Bumi Resources