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20240424_BUMI_Laporan Informasi dan Fakta Material_31629221_lamp2.pdf
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Bakrie Tower,12th floor
Komplek Rasuna Epicentrum
Jl. H.R. Rasuna Said
Jakarta, INDONESIA 12940
Website: www.bumiresources.com
Company Information
BUMI ANNOUNCES Q1- 24 RESULTS
• NET INCOME USD67.6 MILLION
• COAL MINED UP 21%
• SALES VOLUME JUMPS 19%
• REVENUE LOWER BY 12.5%
- COAL PRICE $75.8/TON FALLS 27%
• ROYALTY & LEVIES REMAIN HIGH CA 35 % OF REVENUE
Jakarta, 24 Apr 2024
PT Bumi Resources Tbk (BUMI) confirms that the Unaudited Financials for Q1-24 with notes have
been posted on IDX web on 23 Apr 2024.
Bumi submits its financials based on PSAK 111 on Joint Venture Accounting which consolidates
Arutmin, but its major coal subsidiary, Kaltim Prima Coal (KPC) is equity accounted and is not
consolidated.
Attached are the following 3 Appendices for information:
a) Q1 2024 – Operating Metrics on 100% KPC & Arutmin basis (YOY) (Appendix 1).
b) Q1 2024 – Consolidated Income Statement (YOY) this includes KPC and Arutmin – for benefit of
investors (Appendix 2).
c) Q1 2024 – Audited Income Statement on PSAK 111 basis (consolidates Arutmin but KPC is equity
accounted) (YOY) (Appendix 3).
Operating Metrics Q1 2024 – on 100% Basis for KPC & Arutmin – Key Highlights
• Coal Sales of 18.4MT increased by 19% vs 15.4MT in Q1 2023
• Coal Mined of 19.5MT increased by 21% vs 16.1MT in Q1 2023
• Overburden Removed of 178 mbcm increased by 4% vs 172 mbcm last year in Q1 2023
• Closing Inventory increased by 5% YOY.
The average Coal Price realized of USD75.8/ ton sharply declined by 27% vs ($103.7/ ton in Q1 2023)
and lowered revenue by 12.3%. Strip ratio fell by 14% reflecting efficiency.
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Key Highlights – Consolidated Financials Q1 2024 YOY
Gross Revenue USD1,435.1 million vs USD1,640.2 million or decreased by 12.5%.
Cost of Revenue USD1,319.7 million vs USD1,448.6 million or decreased by 8.9%.
Gross Margin USD115.5 million vs USD191.6 million or decreased by 39.7%.
Operating Expenses USD(48.1) million vs USD(51.2) million or decreased by 6.1%.
Operating Income USD67.4 million vs USD140.4 million or decreased by 52.0%.
Operating Margin (% to revenue) 4.7% vs 8.6%.
Income (Loss) Before Tax &
USD69.7 million vs USD138.5 million or decreased by 49.7%.
Profit Sharing
Decreased by 1.2% to USD92.9 million vs USD94.0 million – Drop of
Net Income (Loss) For the Period USD1.1 million.
Net Income Attributable to Increased by 12.3% to USD67.6 million vs USD60.2 million – Sharp Rise of
Owners of The Parent USD7.4 million.
• Gross Revenue of USD1.44 billion in Q1 2024 compares with USD1.64 billion in Q1 2023 - a sharp
drop of 12.5% - due sharp drop of 27% (YOY) on coal price.
• Royalty, levies, profit sharing, and price subsidies on domestic supplies amounted ca 35% of gross
revenue in Q1 2024 significantly impacting liquidity and margins.
• BUMI as the largest domestic supplier of coal for power, cement, and fertilizer sector at controlled
prices additionally lowers revenue and margins.
• Fuel prices remain high.
Operating expenses reduced by 6.1% to USD48.1 million in Q1 2024 (vs USD51.2 million in Q1 2023).
Coal downstream and non-coal projects are progressing, and announcements would be made once they
are fully finalized.
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Performance Q124 vs Q123 on Statutory PSAK 111 Basis – Consolidates Arutmin but Equity
Accounted KPC
Highlights of Q1 2024 performance vs Q1 2023 is given below for your information.
Gross Revenue USD311.0 million vs USD454.9 million or decreased by 31.6%.
Cost of Revenue USD288.9 million vs USD370.8 million or decreased by 22.1%.
Gross Margin USD22.1 million vs USD 84.1 million or decreased by 73.7%.
Operating Expenses USD11.5 million vs USD16.7 million or decreased by 30.8%.
Operating Income USD10.6 million vs USD67.4 million or decreased by 84.3%.
Income (Loss) Before Tax &
USD32.4 million vs USD88.6 million or decreased by 63.4%.
Profit Sharing
Increased by 7.8% to USD72.7 million vs USD67.5 million – Rise of USD5.2
Income For the Period million.
Net Income for the
Increased by 12.3% to USD67.6 million vs USD 60.2 million – Rise of USD7.4
Period Attributable to
million.
Owners of The Parent
AWARDS
• BUMI subsidiary, Arutmin, achieves MURI Record after successfully organizing Arutmin Borneo Run 15
Times (26 March 2024).
• BUMI cited as Top ESG Rating & Example of Human Rights Implementation by Indonesian Government at
United Nations (UN) Economic, Social, and Cultural Rights Committee Annual Session (4 March 2024).
GUIDANCE 2024
Productions : 78MT- 82MT
Prices : $71/t - $81/t
QUASI REORGANIZATION
An Information Disclosure on Company intent to conduct a quasi-reorganization to offset negative retained
earnings fully by share premium on books. The information disclosure has been submitted to regulators and
posted in Kontan on 23 Apr – this is subject to OJK approval.
AGM/EGM
Announcement of AGM/EGM on 30 May 24.
EARNINGS CALL ON FY 2023 RECAP - Q1 2024 RESULTS & FY 2024 PROSPECTS
An earnings call will be held on Wednesday, 24 April 2024 at 3:00pm Jakarta Time – for our investment
fraternity.
For further information, please contact:
Dileep Srivastava
Director & Corporate Secretary
PT Bumi Resources Tbk.
Tel (62-21) 5794 2080
Fax (62-21) 5794 2070
email dileep@bumiresources.com
www.bumiresources.com
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Appendix - 1
Operating Metrics Q1 2024 – on 100% Basis for KPC & Arutmin
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Appendix - 2
Full Consolidation Method Q1-24 vs Q1-23
In USD
31 Maret / 31 Maret /
March 31, 2024 March 31, 2023
Metode Konsolidasi/ Metode Konsolidasi/
Consolidation Method Consolidation Method
PENDAPATAN 1,435,128,276 1,640,154,600 REVENUES
BEBAN POKOK PENDAPATAN (1,319,661,022) (1,448,562,397) COST OF REVENUES
LABA BRUTO 115,467,254 191,592,203 GROSS PROFIT
BEBAN USAHA (48,080,385) (51,186,194) OPERATING EXPENSES
LABA USAHA 67,386,869 140,406,009 OPERATING INCOME
PENDAPATAN LAIN-LAIN - NETO 2,355,513 (1,869,770) OTHER (EXPENSE) INCOME - NET
LABA SEBELUM BEBAN INCOME BEFORE INCOME
PAJAK PENGHASILAN 69,742,382 138,536,239 TAX EXPENSE
MANFAAT PAJAK PENGHASILAN 28,264,345 (32,942,093) INCOME TAX EXPENSE
LABA NETO SETELAH PAJAK 98,006,727 105,594,146 NET INCOME AFTER TAX
BAGI HASIL (5,141,491) (11,576,509) PROFIT SHARING
LABA NETO 92,865,236 94,017,637 NET INCOME
Total Laba Periode Berjalan Yang Dapat Total Net Income For The Period
Diatribusikan Kepada: Attributable To:
Pemilik Entitas Induk 67,639,661 60,243,115 Owners of the Parent Company
Kepentingan Non-Pengendali 25,225,575 33,774,522 Non-Controlling Interests
92,865,236 94,017,637
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Appendix - 3
Performance Q124 vs Q123 on Statutory PSAK111 Basis – Consolidates Arutmin but Equity Accounted KPC
In USD
31 Maret / 31 Maret /
March 31, 2024 March 31, 2023
Setelah PSAK 111 / Setelah PSAK 111 /
After PSAK 111 After PSAK 111
PENDAPATAN 311,015,873 454,862,725 REVENUES
BEBAN POKOK PENDAPATAN (288,877,958) (370,778,083) COST OF REVENUES
LABA BRUTO 22,137,915 84,084,642 GROSS PROFIT
BEBAN USAHA (11,540,176) (16,687,918) OPERATING EXPENSES
LABA USAHA 10,597,739 67,396,724 OPERATING PROFIT
PENGHASILAN (BEBAN) LAIN-LAIN - NETO 21,845,830 21,171,887 OTHER INCOME (EXPENSES) - NET
LABA SEBELUM PAJAK PENGHASILAN 32,443,569 88,568,611 PROFIT BEFORE INCOME TAX
MANFAAT (BEBAN) PAJAK PENGHASILAN 40,957,048 (15,453,613) BENEFIT INCOME TAX (EXPENSES)
LABA SETELAH PAJAK 73,400,617 73,114,998 PROFIT AFTER TAX
BAGI HASIL (679,784) (5,648,612) PROFIT SHARING
LABA PERIODE BERJALAN - NETO 72,720,833 67,466,386 PROFIT FOR THE PERIOD - NET
Total Laba Tahun Berjalan Yang Dapat Profit for the Period
Diatribusikan Kepada: Attributable to:
Pemilik Entitas Induk 67,639,661 60,243,115 Owners of the Parent Entity
Kepentingan Non-Pengendali 5,081,172 7,223,271 Non-Controlling Interests
72,720,833 67,466,386
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