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Banyak yang bertanya – tanya perihal penurunan harga saham DOID di pasar. Isu beredar bahwa DOID akan right issue di kisaran IDR 1400 per lembarnya. Di bawah ini terdapat berita mengenai DOID yang diambil partner kami. Selamat membaca.
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Author: Insider Stories | Posted at: 9:49 PM |
Mar 16, 2010
Filed Under: Coal
PT Delta Dunia Makmur Tbk (DOID) suffered a consolidated net loss last year on the back of property assets write-off and a tiny contribution of Indonesia second largest coal mining contractor PT Bukit Makmur Mandiri Utama (BUMA).
A source familiar with the matter said despite a minimum impact of BUMA consolidation starting on November last year, BUMA’s profit last was eroded by cost of bond issue worth US$600 million.
“BUMA didn’t make any steep growth in net profit in Q4 compared to Q3 last year,” the source said to Insider Stories. Other source said BUMA’s bottom line last year was close to Rp1 trillion.
As of September last year, BUMA posted Rp3.79 trillion of
net revenue and Rp704 billion of net profit, growing 20.6% and 67% respectively compared to the same period in 2008.
Coal production slightly rose 2.7% to 23.1 million tons by the end of September last year compared to the same period 2008, while overburden removal grew 24% YoY to 206.3 million bank cubic meter. Debt to equity ratio steeply feel from 1.9x to 1x while net cash flow remained intact.
Despite the exit from two contracts, Truba Coal Manunggal and Sebuku in first quarter 2009, BUMA posted 20.6% growth in net revenue as of September 2009 compared to the same period in 2008. BUMA’s net profit jumped 67% YoY partly underpinned by Rp206 billion
foreign exchange gain compared to Rp800 million loss in September 2008.
But, BUMA’s profitability, gross margin, operating margin, and EBITDA margin, droped to 26.6%, 22.9%, and 39% respectively by the end of September 2009 from 27.4%, 23.9%, and 41.4%. BUMA’s net margin increased from 13.4% as of September 2008 to 18.5% last year.
Based on data from Indonesia Stock Exchange, DOID shares dropped to Rp1,400 per share on last Friday, the lowest closing level in 60 trading days on the back of rights issue rumor. But, DOID Corporate Secretary Andre Soelistyo said Delta Dunia Makmur doesn’t has any plan to rights issue. “We are not in the process of rights issue,” he said.
How about BUMA’s fiercest contender, PT Pamapersada Nusantara, Indonesia largest coal mining contractor?
For the first nine months operation last year, Pama posted 33%
jump in revenue from 8.27 trillion to Rp10.99 trillion, taking 52% of UNTR consolidated revenue. PAMA enabled to increase gross margin from 20.2% to 21.7% as of September 2009.
PAMA’s coal production rose from 44.3 million tons by the end of September 2008 to 48.5 million tons, while overburden removal rose from 329.5 million bcm to 435.5 million bcm by the end of September 2010.