Indika?s first half coal output reaches 19.53 million tons

By Hiski Darmayana

IDX-listed coal mining firm PT Indika Energy Tbk said production in the first half of this year reached 19.53 million tons.

Head of Corporate Social Responsibility and External Communications Division of the company, Ratih SA Loekito told Petromindo.com Thursday that the output came from two subsidiaries PT Kideco Jaya Agung and PT Santan Batubara, which respectively produced 18.6 million tons, and 0.93 million tons during the period.

Ratih did not provide comparative figures for the first semester of last year. She said that most of Indika?s first half output were exported to China, only a small portion was sold in the domestic market.

Indika aims to produce 39.5 million tons this year, of which 37 million tons expected to come from Kideco, while the remainder from Santan.

Meanwhile, Indika Energy reported to the stock exchange that first half 2013 net revenues increased by 23.7 percent to US$413.3 million from $334 million in the same period of last year due to mainly to higher contribution from Tripatra?s EPC project, Exxon Mobil, Cepu.

However, largely due to the dropped in contribution from Kideco resulting from global weakening in coal price, higher interest expense, and impairment of goodwill and intangible assets has brought down the company?s profit attributable to owners of the company from $79.7 million in the first half of last year to a significant loss of $7.9 million in the first half of this year.

Editing by Reiner Simanjuntak