Indika provides Kideco's highlights 9 mo performance results
Saturday, November 1 2008 - 01:05 AM WIB
Kideco?s 9M08 at a glance
Kideco?s 9M08 revenue advanced by 50% yoy to US$ 787.4 million, on the back of higher volume and stronger Average selling price, US$48.5/ton.
Average Selling Price up by 43.2% to US$48.5/ton vs US$33.9/ton reported in 9M07.
Cash Cost increased by 28.5% on the back of fuel cost pressure, which account for approximately 30% of overall cash cost. However, this unfavorable fuel cost was mitigated and outperformed by the strong 43.2% increased in its average selling price. As a result, Indika?s overall 9M08 margins are far better than 9M07.
Kideco?s 9M08 reported a very strong Net Profit of US$169 million, more than double from US$78.1 million reported over the same period last year. This was achieved in an environment in which weather interruptions and fuel input cost pressures are placing challenges on the industry.
9M08 production up by 4.7% to 16.23MT from 15.50MT in 9M07 despite unfavorable and a very challenging weather environment of continues heavy and long rainy season coupled with Long Lebaran Break. (end)
Kideco?s Financial and Operating Highlights
| PT Kideco Jaya Agung | 9M08 | 9M07 | Increase % |
| Revenue (US$ '000) | 787,383 | 524,930 | 50.0% |
| Gross Profit | 315,181 | 151,850 | 107.6% |
| Operating Profit | 303,650 | 141,430 | 114.7% |
| EBITDA | 314,059 | 151,565 | 107.2% |
| Net Profit before tax | 307,318 | 141,950 | 116.5% |
| Coal Production ('000 ton) | 16,219 | 15,349 | 5.7% |
| Stripping ratio (X) | 5.01 | 5.45 | -8.1% |
| Cash Cost (US$/ton incl. royalty) | 28.52 | 23.65 | 20.6% |
| Average selling price (US$/ton) | 48.50 | 33.87 | 43.2% |