Darma Henwa reports higher revenue
Thursday, April 7 2016 - 05:00 AM WIB
IDX-listed coal mining services company PT Darma Henwa reported Wednesday revenues in 2015 rose by 2 percent to US$240.12 million from $234.66 million in the previous year.
?This increase was attributed to the increasing mining activities in 2015,? Darma Henwa said in a statement. The largest contributor of revenues was Bengalon Project (owned by coal mining firm PT Kaltim Prima Coal) with a contribution of $179.19 million and Asam Asam Project which provided $58.84 million, it added.
The company?s cost of revenues in 2015 amounted to $216.22 million, a 3 percent decline from $221.84 in the previous year. The decrease was contributed by the success of efficiency program, supported by the decrease of fuel price for the industry, in line with the weakening of energy commodity prices in the global market, the company explained. ?Thus, even though the work volume increased, the increasing work load can be compensated by the increase in the productivity of equipment and system, which made the operations more efficient.?
Other expenses of the company in 2015 amounted to $15.91 million, 267 percent jump from $4.34 million in the previous year. ?This increase was primarily because of the net tax expenses of $1.63 million. In addition to taxes, other components that affected the increase in other expenses were other costs, which grew significantly to $3.69 million,? the company said.
The company said it booked an income of $465.75 thousand in 2015, a significant surge compared to $83.07 thousand in 2014.
The comprehensive income in 2015 amounted to $1,112.23 thousand, 344 percent jump compared to the comprehensive income in 2014 at $251.93 thousand.
Darma Henwa said EBITDA in 2015 was $29.06 million, a 5.65 percent decrease from $30.80 million in 2014. ?This happened because other expenses in 2015 slightly increased compared to the previous period,? the statement ended.
Editing by Reiner Simanjuntak