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20250307_CUAN_Laporan Informasi dan Fakta Material_31867441_lamp1.pdf
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Petrindo Records All-Time High Revenue and Profit
with Further Business Diversification and Sustainable Expansion
Press Release For Immediate Distribution
Jakarta, March 7, 2025 – PT Petrindo Jaya Kreasi Tbk, hereby conveys the latest development
in relation to the company's performance in 2024 based on its audited financial statements.
As a fully integrated company in the mining, infrastructure, and mining services and EPC
sectors, Petrindo managed to close 2024 by recording total revenue of US$801.7 million, or a
significant increase of 719% compared to the previous year. The revenue in 2024 is the
company’s highest revenue of all time.
Meanwhile, total net profit attributable to owners of the parent entity reached US$160.8 million
(basic earnings per share: US$ 0.014) or an increase of more than 929% when compared to
the previous year figure of US$15.6 million (basic earnings per share: US$ 0.001). Meanwhile,
retained earnings increased from negative 36.7 million at the end of 2023 to positive US$124.1
million at the end of 2024, which is the first time the company has recorded a positive amount
in the company's history since its inception in 2008, which allows the company to distribute
dividends for the 2024 financial year to its shareholders.
Along with an increase in revenue, the company also managed to diversify its revenue sources
from 100% of coal sales in 2023 to only 34% of coal sales in 2024, followed by 31%, 31%, 4%
from mining services, EPC contractors, and other services, respectively, in 2024. In terms of
minerals, the company has also managed to diversify its revenue sources from 100% thermal
coal in 2023 to only 54% thermal coal in 2024, followed by 26%, 10%, and 9% from
gold/copper, metallurgical coal, and oil/gas in 2024.
"We believe that 2024 is an important momentum for the company in realizing Petrindo's vision
to become an integrated energy and mineral company by creating sustainable growth and
value for all stakeholders," said Michael, President Director of PT Petrindo Jaya Kreasi Tbk.
Building sustainable growth through diversification & synergies
The company’s achievement was obtained due to the successful implementation of its
business strategy of diversification and synergy as the two main pillars of Petrindo's business
strategy. Through its diversification strategy, Petrindo completed the acquisition of PT
Petrosea Tbk (Petrosea) and PT Multi Tambangjaya Utama (MUTU), which is a thermal coal
mining and bituminous metallurgical company located in Central Kalimantan, which is adjacent
to the mining area of PT Tamtama Perkasa (TP), another subsidiary of the company. Since
being acquired by Petrindo, MUTU has started to produce metallurgical coal as a tangible
result of the company's exploration and sustainable investment in the development of its
subsidiaries. The completion of the two acquisitions also complements Petrindo's business
lines, ranging from mine ownership, mining services/EPC contractor and infrastructure, to port
and shipping services, including mineral trading as a fully integrated value chain.
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In addition, through strategy of building synergy, Petrosea has signed a mining infrastructure
development service agreement, which includes the construction of a hauling road for PT
Daya Bumindo Karunia (DBK), part of one of the company's subsidiaries, in June 2024. The
development of DBK is the implementation of Petrindo's long-term strategy in its efforts to
expand into the metallurgical coal business, as part of the diversification of the company's
portfolio to strengthen its position as a holding company in the mining industry other than
thermal coal. All operational activities and construction of the facility will be funded by the
company's capital and credit facilities from PT Bank Negara Indonesia (Persero) Tbk which
the company has obtained on December 23, 2024. In 2024, Petrosea has also signed a mining
service agreement with the company's subsidiaries, namely TP, MUTU, and PT Borneo
Bangun Banua, part of one of the company's subsidiaries, for the removal of overburden and
coal mining in Central Kalimantan.
The diversification strategy is also carried out by developing mining into other mineral sectors,
namely gold and its derivative minerals through PT Intam, part of one of the company's
subsidiaries, which is a mining license holder in West Nusa Tenggara with an area of around
18,500 hectares which is carrying out intensive exploration activities. The development into
other mineral and coal has added to the large and diversified resource/reserves and is a
competitive advantage for Petrindo.
Petrindo and its subsidiaries focus on three business lines: mine ownership business line, in
thermal coal, high-calorie coal (metallurgy), gold and its derivative minerals and silica sand;
mining services business line in the form of multidisciplinary services of integrated mining
contracts and EPC; and infrastructure services business line & others through Petrosea
Offshore Supply Base (POSB) and Intermediate Stockpile (ISP).
***
About Petrindo Jaya Kreasi
PT Petrindo Jaya Kreasi Tbk (IDX:CUAN) is a holding company in the coal processing
industry. As a holding company, Petrindo operates a coal mining business with the support of
various subsidiaries spread throughout Kalimantan. Through one of its subsidiaries, namely
PT Tamtama Perkasa, the Company has been producing high-quality thermal coal since 2013.
With the vision of becoming an integrated energy and mineral mining company in Indonesia
through sustainable value creation, the Company is committed to optimizing the integrated
supply chain from the production process to the delivery of products. Visit our website at
www.petrindo.co.id.
For media inquiries, please contact: corsec@petrindo.co.id
Names mentioned 8 people and organisations named in the text · linked when the evidence is strong
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PT Multi Tambangjaya Utama
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PT Tamtama Perkasa
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PT Daya Bumindo Karunia
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PT Borneo Bangun Banua
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PT Intam
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