Indika provides Kideco's highlights 6 mo performance results
Friday, September 18 2009 - 01:11 AM WIB
Kideco?s Audited 6M09 at a glance
Kideco?s 6M09 revenue increased by a modest 21% yoy to US$ 630 million, on the back of higher volume 11.96 million tons (+10.8 % ) and stronger average selling price, US$52.69/ton.
Average Selling Price up by 9.3% to US$52.69/ton vs US$48.23/ton reported in 6M08.
6M09 production up by 6.7% to 11.4 MT from 10.7MT in 6M08 which is in line with company?s target of producing 24 MT in 2009
Cash Cost increased by 5.8% to US$30.12/ton on the back of higher stripping ratio and higher mining cost. Kideco?s overall 6M09 margins are better than 6M08.
6M09 Net Profit of US$156 million, increased by 36% from US$115 million reported over the same period last year. (end)
Kideco?s Financial and Operating Highlights
| Description ( US$ '000) | 6M09 (audited) | 6M08 (unaudited) | Change % |
| Revenue (US$ '000) | 630,047 | 520,483 | 21.1% |
| Gross Profit | 276,255 | 208,241 | 32.7% |
| Operating Profit | 269,478 | 201,909 | 33.5% |
| EBITDA | 278,645 | 208,913 | 33.4% |
| Net Profit before tax | 280,416 | 206,983 | 35.5% |
| Net Profit after tax | 156,477 | 115,032 | 36.0% |
| Coal Production ('000 ton) | 11,440 | 10,721 | 6.7% |
| Stripping ratio (X) | 6.23 | 5.22 |