20240624_DOID_Laporan Informasi dan Fakta Material_31674508_lamp2.pdf

Capital expenditures (Capex) increased by 80% YoY to USD 40 million, driven by the ramp-up of an
existing client and repair and maintenance (RM) capex, aligning with the Group's FY guidance range of
USD 150 million to USD 190 million. As the Group continues to expand its operations, maintaining strict
control over capex remains a key focus, reflecting the Group's commitment to prudent financial
management practices.

Excluding the forex translation loss, the Group's net income remained stable and comparable to the
previous year, reflecting a steady financial performance in Q1 2024. While the Group reported a net loss
of USD 19 million, USD 18 million higher loss compared to the same period in 2023, this was primarily
driven by a USD 17 million forex loss due to the depreciation of the Indonesian Rupiah (IDR) and the
Australian Dollar (AUD).

Contract Win and Diversification Fuel Growth

The Group has strategically prioritized high-quality customers, highlighted by the successful extension
of contract with Blackwater Operations Pty Ltd, a subsidiary of Whitehaven Coal Mining Limited, for pre-
strip mining services at the Blackwater Mine in Australia for an additional 2 years. Active engagement
with several other clients to finalize contract negotiations underscores our commitment to long-term
relationships and customer base expansion. This approach not only ensures a steady revenue stream
but also strengthens the Group’s industry reputation.

In addition, the Group continues to diversify geographically and into future-facing commodities with the
acquisition of Atlantic Carbon Group, Inc. (ACG), the second-largest American anthracite producer
operating four ultra-high-grade anthracite (UHG anthracite) mines in Pennsylvania, USA. This
acquisition, expected to be completed in June 2024, marks a significant milestone for the Group,
expanding from a mining service provider into a global mine owning business and accelerates the
Group's commitment to reduce its dependence on thermal coal in its revenue. Importantly, the
acquisition positions the Group as a pivotal player in the global UHG anthracite market, crucial to
produce low-carbon steel (LC steel).

Dian Andyasuri, Director at Delta Dunia Group, commented, “In navigating through both challenges
and opportunities, the Group has showcased our resilience and strategic foresight in maintaining growth
momentum. By prioritising high-quality partnerships and expanding into new territories and commodities,
we continue to strengthen our position in the industry while advancing towards our long-term objectives
and mitigating potential risks beyond our control.”

Enhanced Financial Robustness Through Strategic Refinancing

In Q1 2024, the Group continued to strengthen its balance sheet, achieving a healthy Net Debt to
EBITDA ratio of 1.65x as of March 2024, improving from 2.15x in Q1 2023. Operating cash flow
increased significantly to USD 61 million, up from USD 35 million in Q1 2023. While free cash flow was
USD 11 million, the Group's cash position grew to USD 322 million. The lower free cash flow reflects
additional investments in Solar United Network Pte ltd (SUN Energy), a solar panel engineering,
procurement and construction (EPC) and developer with international project portfolio in
Asia Pacific region, emphasizing the Group’s commitment to transition towards a lower carbon economy.

As of March 2024, the Group’s total debt decreased to USD 1.01 billion, down from USD 1.22 billion,
due to a USD 153 million early bond repayment and further reductions from loan and lease amortization.
This reduction, coupled with effective diversification of capital sources, facilitated the successful
refinancing of its 2026 debt repayment obligations, improving its debt maturity profile.


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Iwan Fuad Salim, Director at Delta Dunia Group, commented, "Our successful refinancing is a
significant step forward for the Group, extending our debt maturity to 2029 and enabling an evenly
distributed repayment schedule. This prudent adjustment ensures greater financial robustness to
increase resilience, while providing flexibility to pursue growth initiatives. The successful refinancing
demonstrates the strong trust and confidence of all our financial partners in the Group's performance
and strategy. We are well-positioned to capitalise on emerging diversification opportunities, grow our
geographical presence, improve our ESG (Environmental, Social, and Governance) footprint, and drive
sustainable value creation for our stakeholders.”

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About PT Delta Dunia Makmur Tbk (Delta Dunia Group):
Established in 1990, PT Delta Dunia Makmur Tbk (Delta Dunia Group) is a prominent holding company operating in
Indonesia, Australia and at the completion of Atlantic Carbon Group, Inc.’s acquisition, USA. Our principal subsidiary, PT
Bukit Makmur Utama (BUMA), is a leading provider of mining services to some of the largest miners in Indonesia and
Australia (through BUMA Australia Pty Ltd).

In 2023, Delta Dunia Group expanded its portfolio with the addition of two new subsidiaries: PT Bukit Teknologi Digital
(BTech), offering comprehensive mining technology solutions that empower companies within the mining industry, and PT
BISA Ruang Nuswantara (BIRU), a social entity dedicated to education, vocational schools, and fostering a circular economy.

Listed on the Indonesia Stock Exchange (IDX Code: DOID), Delta Dunia Group is headquartered in Jakarta, Indonesia, and
is supported by a workforce of over 16,000 employees across Indonesia and Australia. In June 2024, Delta Dunia Group
was recognized among the Top 200 in the inaugural FORTUNE Southeast Asia 500 rankings, a prestigious list that identifies
the region’s largest companies by revenue.

For further information, please contact:
PT Delta Dunia Makmur Tbk
Corporate Communications
South Quarter Tower A, Penthouse Floor
Jl R.A. Kartini Kav. 8, Cilandak Barat Jakarta 12430
Phone: +6221 3043 2080
Email: communications@deltadunia.com
Website: www.deltadunia.com



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