Indika provides Kideco's highlights 2009 performance results
Tuesday, March 30 2010 - 01:31 AM WIB
Kideco?s FY2009
Kideco?s revenue increased 21.3% y-o-y from US$ 1.1 billion to US$ 13 billion, on the back of higher sales volume and a stronger average selling price. Sales volume recorded was 24.9 million tonnes, a 14.7% increase from 21.7 million tonnes in 2008. Average Selling Price was also up from US$49.9/ton to US$52.7/ton, despite the challenging global market environment.
Production was reported at 24.7 million tonnes, an increase of more than 12% from 22 million tonnes produced in 2008. Capitalizing on favorable weather conditions, the stripping ratio increased to 6.6:1 in 2009 from 4.9:1 in 2008.
Kideco?s reported a strong Net Profit of US$ 288 million, a 25.5% increase from US$ 229 million reported in 2008. This was achieved in an environment where global economy was experiencing a contraction, placing challenges on the industry. (end)
Kideco's Financial and Operating Highlights
| Description (in US$ million) | 2009 audited | 2008 audited | Changes (%) |
| Revenue | 1,312 | 1,082 | 21.3% |
| Gross Profit | 506 | 440 | 14.9% |
| Operating Profit | 490 | 425 | 15.2% |
| Net Profit | 288 | 229 | 25.5% |
| EBITDA | 511 | 439 | 16.3% |
| Shareholders' Equity | 379 | 301 | 25.9% |
| Coal Production (million ton) | 24.7 | 22.0 | 12.3% |
| Coal Sales Volume (million ton) | 24.9 | 21.7 | 15.0% |
| Stripping Ratio (X) | 6.60 | 4.85 | 36.0% |
| Gross Margin | 38.6% | 40.7% | ? |
| Operating Margin | 37.3% | 39.3% | ? |
| Net Margin | 21.9% | 21.2% | ? |
| EBITDA Margin | 38.9% | 40.6% | ? |
| ROA | 39.4% | 38.1% | ? |
| ROE | 76.1% | 76.3% | ? |
| Current Ratio (X) | 1.8 | 1.9 | ? |
| Source: Indika Energy Tbk | |||