20231031_DOID_Laporan Informasi dan Fakta Material_31483917_lamp1.pdf

PRESS RELEASE                                                          For Immediate Release


Delta Dunia Group’s Nine Months 2023 Results Mark a Transformative
             Shift Towards Diversified Revenue Streams
Jakarta, October 31, 2023 - Delta Dunia Makmur Tbk (Delta Dunia Group), the parent
company of PT Bukit Makmur Mandiri Utama (BUMA), BUMA Australia Pty Ltd (BUMA Australia),
PT Bukit Teknologi Digital (B-TECH), and PT BISA Ruang Nuswantara (BIRU), announces a
strong operational performance and revenue growth during January to September 2023 period.

Key highlights include:
   ● Achievement of record quarterly revenue of USD 506 million in Q3 2023, contributing to
       substantial revenue growth to USD 1.36 billion or a 19% increase in nine months year-on-
       year (YoY).
   ● BUMA and BUMA Australia exhibited strong operational performance, with a 12% YoY
       increase in overburden volume (OB) to 286 million bank cubic meters (bcm) and the
       production of 64 million metric tons (MT) of coal. The growth was predominantly in
       Australia, aided by drier weather in Indonesia and the ramp-ups of new contracts in
       Australia.
   ● EBITDA increased to USD 302 million, rising by 11% YoY, despite challenges such as
       higher inflation costs and delays in government approvals for revised coal production
       quotas (RKAB) in Q3 2023. Notably, a record quarterly EBITDA of USD 127 million was
       achieved in Q3 2023, reflecting a consistent increase in the EBITDA margin since Q1
       2023.
   ● Net profit increased by 5% YoY, impacted by higher finance costs driven by an increase
       in base rate and foreign exchange translation losses due to Rupiah depreciation.
   ● Capital Expenditure (Capex) decreased by 31% YoY to USD 74 million, attributed to
       project ramp-up completions in Indonesia, aligning with Delta Dunia Group's full-year
       target of USD 105 million to USD 145 million. The Group will continue to maintain tight
       control over Capex.
   ● Operating cash flow increased to USD 227 million, primarily due to higher EBITDA,
       improved working capital management, and an increased tax refund, resulting in a positive
       free cash flow of USD 159 million and a higher cash level of USD 230 million.
   ● Although Q3 2023 saw higher EBITDA, the Group's Operating Cash flow and Free Cash
       Flow for the quarter were marginally lower compared to Q3 2022, mainly due to the
       collection of over USD 12 million in receivables in the first week of October.
   ● The net debt to EBITDA ratio remains healthy and is on a declining trend at 1.82x, the
       lowest in the past five years, as we have completed our growth Capex cycle and continue
       to de-leverage.

Dian Andyasuri, Director of Delta Dunia Group, expressed confidence with the results. "We
are proud to see the consistently strong performance of Delta Dunia Group, even in the face of
challenges. Our diversification strategy has increased our revenue from metallurgical coal to 19%
and reduced our reliance on thermal coal by 81% as of September 2023. We are on track to
ensure that thermal coal contributes less than 50% of our revenues by 2028. This strategic shift

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