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20230801_IATA_Laporan Informasi dan Fakta Material_31356574_lamp2.pdf
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H1-2023 Performance Report,
IATA’s Revenue Reaches USD 100 Million
Jakarta, 31 July 2023 - PT MNC Energy Investments Tbk (IDX: IATA) announced its financial
performance for the end of 30 June 2023 with revenue of USD 100.5 million, growing 20.2% year-
on-year (yoy) from USD 83.6 million in H1-2022.
On the other hand, the Company’s direct costs touched USD 41.1 million in H1-2023, triggered by
shipping costs which jumped 15.6% yoy and a 24.9% hike in diesel fuel prices when compared to
the end of June 2022 and 2023. This increase in costs is in line with the increase in the Company’s
coal production. Additionally, the government royalties soared from 3% to 8% at the end of the
first half of this year. The above matters resulted in a 15.4% yoy decrease in net profit to USD 22.3
million. The Company recorded EBITDA of USD 28.6 million in H1-2023, equivalent to 28.4% EBITDA
margin.
IATA’s total assets grew 20.9% to USD 218.0 million in the first half of this year, compared to USD
180.3 million at the end of 2022. The Company’s total liabilities and equity rose by 11.3% and
34.3% from FY-2022 to USD 116.8 million and USD 101.2 million, respectively.
Financial Highlights H1-2023
in thousand USD H1-2023 H1-2022
Profit and Loss
Operating Revenues 100,540 83,648
Direct Costs (41,061) (25,207)
Gross Profit 59,479 58,441
Income Before Tax 29,612 42,026
Net Profit 22,266 26,317
EBITDA 28,595 47,156
in thousand USD H1-2023 FY-2022
Balance Sheet
Current Assets 31,237 18,445
Non-Current Assets 186,757 161,845
Total Assets 217,994 180,290
Current Liabilities 77,929 57,558
Non-Current Liabilities 38,853 47,375
Total Liabilities 116,782 104,933
Total Equity 101,212 75,357
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Throughout the first half of 2023, IATA produced 2.1 million MT of coal, up by 14.2% yoy or an
increase of 264.4 MT compared to H1-2022’s total production. Meanwhile, from the sales
perspective, IATA managed to market 2.3 million MT of coal in H1-2023, 29.2% higher than the
same period of the previous year.
The Company will start production from IUP owned by PT Arthaco Prima Energy (APE) in Q4-2023.
A number of preparations are being made by the Company to start the operation of APE mine,
including the signing of a cooperation agreement with the owner of the Cultivation Rights at the
APE mine site, land acquisition, and construction of hauling road and port.
Furthermore, IATA is accelerating the construction of Barge Loading Conveyor at the jetty of PT
Putra Muba Coal’s IUP with target completion in August 2023. This 1,000 MT/hour conveyor
investment will further increase the efficiency of coal loading onto barges.
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IATA manages 8 IUP-Production Operations in Musi Banyuasin, South Sumatra, and aggressively
boosts its production to respond to the high coal demand.
Based on the report from the Indonesian Joint Committee for Mineral Reserves (KCMI), currently,
IATA has coal reserves of 386.6 million MT. That total is generated from only around 20% of the
Company’s mining area of 72,478 Ha. In addition, exploration activities are still being actively
carried out in stages on the remaining 57,793 Ha mining area. IATA believes that coal reserves will
keep increasing as the exploration process shows additional proven reserves, at least as much as
600 million MT for all IUPs.
In addition to focusing on increasing coal production, the Company continues to growing sales
contracts, seeking opportunities to acquire new mines, considering prospects in renewable energy,
and ensuring efficiency in every business activity to generate sustainable performance growth.
IATA consistently contributes to social life and the environment, including sustainable economic
development.
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For further information, please contact: PT MNC Energy Investments Tbk
Natassha Yunita – Head of Investor Relations MNC Tower, 22/F, MNC Center
natassha.yunita@mncgroup.com Jl. Kebon Sirih No. 17-19, Menteng
office.iata@mncgroup.com Jakarta Pusat 10340, Indonesia
Phone: +62-21 391 2935
www.mncenergy.com
DISCLAIMER
By accepting this Press Release, you agree to be bound by the restrictions set out below. Any failure to comply with these restrictions
may constitute a violation of applicable securities laws.
The information and opinions contained in this Press Release have not been independently verified, and no representation or warranty,
expressed or implied, is made as to, and no reliance should be placed on the fairness, accuracy, completeness or correctness of, the
information or opinions contained herein. It is not the intention to provide, and you may not rely on this Press Release as providing, a
complete or comprehensive analysis of the condition (financial or other), earnings, business affairs, business prospects, properties or
results of operations of The Company or its subsidiaries. The information and opinions contained in this Press Release are provided as
at the date of this presentation and are subject to change without notice. Neither The Company (including any of its affiliates, advisors
and representatives) nor the underwriters (including any of their respective affiliates, advisors or representatives) shall have any
responsibility or liability whatsoever (in negligence or otherwise) for the accuracy or completeness of, or any errors or omissions in, any
information or opinions contained herein nor for any loss howsoever arising from any use of this Press Release.
In addition, the information contained in this Press Release contains projections and forward-looking statements that reflect The
Company's current views with respect to future events and financial performance. These views are based on a number of estimates and
current assumptions which are subject to business, economic and competitive uncertainties and contingencies as well as various risks
and these may change over time and in many cases are outside the control of The Company and its directors. No assurance can be
given that future events will occur, that projections will be achieved, or that The Company's assumptions are correct. Actual results may
differ materially from those forecasts and projected.
This Press Release is not and does not constitute or form part of any offer, invitation or recommendation to purchase or subscribe for
any securities and no part of it shall form the basis of or be relied upon in connection with any contract, commitment or investment
decision in relation thereto.
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