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20240328_BUMI_Laporan Informasi dan Fakta Material_31620940_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 FULL YEAR 2023 RESULTS
• VOLUME RISES 13%
• COAL PRICE DROPS 33%
• REVENUE DIPS 23%
• CA 40% OF REVENUE PAID ON ROYALTY, TAXES & SUBSIDIES
• OPERATING EXPENSES DROP BY 30.9%
• NET INCOME FALLS DUE ABOVE BUT STILL POSITIVE
Jakarta, 28 March 2024
PT Bumi Resources Tbk (BUMI) confirms that the audited Financials for Full Year 2023 with notes
have been posted on IDX web on 28 Mar 2024.
Bumi submits its financials based on PSAK 66 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) FY 2023 – Operating Metrics on 100% KPC & Arutmin basis (YOY) (Appendix 1).
b) FY 2023 – Consolidated Income Statement (YOY) this includes KPC and Arutmin – for benefit of
investors (Appendix 2).
c) FY 2023 – Audited Income Statement on PSAK 66 basis (consolidates Arutmin but KPC is equity
accounted) (YOY) (Appendix 3).
Operating Metrics FY 2023 – on 100% Basis for KPC & Arutmin – Key Highlights
• Coal Sales of 78.7MT increased by 13% vs 69.4MT in FY 2022
• Coal Mined of 77.8MT increased by 8% vs 71.9MT in FY 2022
• Overburden Removed of 765 mbcm increased by 20% vs 635.8 mbcm last year in FY 2022
• Closing Inventory fell by 21% YOY reflecting working capital efficiency.
The average Coal Price realized of USD81.3/ ton sharply declined by 33% vs $121.0/ ton in FY 2022.
Strip ratio also increased by 11% due to longer OB distances and deeper mining.
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Key Highlights - FY 2023 – Consolidated Financials 2023 YOY
Gross Revenue USD 6,574.5 million vs USD 8,532.0 million or decreased by 22.9%.
Cost of Revenue USD 5,978.7 million vs USD 6,126.9 million or decreased by 2.4%.
Gross Margin USD 595.8 million vs USD 2,405.1 million or decreased by 75.2%.
Operating Expenses USD 234.0 million vs USD 338.3 million or decreased by 30.8%.
Operating Income USD 361.8 million vs USD 2,066.8 million or decreased by 82.5%.
Operating Margin (% to revenue) 5.5% vs 24.2%.
Income (Loss) before Tax &
USD 254.3 million vs USD 1,862.7 million or decreased by 86.3%.
Profit Sharing
Decreased by 89.9% to USD 117.4 million vs USD 1,163.8 million – Sharp
Income (Loss) For the Period Drop of USD 1,046.4 million.
Net Income (Loss) For the
Decreased by 97.9% to USD 10.9 million vs USD 525.3 million – Sharp
Period Attributable to Owners of
Drop of USD 514.4 million.
The Parent
• Gross Revenue of $6.57 billion in FY 2023 compares with $8.53 billion in FY 2022- a sharp drop
of 23% - due to market conditions, and price which declined by 33% (YOY).
• Royalty, levies profit sharing and price subsidies on domestic supplies amounted to over 40% of
gross revenue in FY 2023 significantly impacting liquidity and margins.
• Bumi is the largest domestic supplier of coal for power, cement and fertilizer sector at controlled
prices which additionally pressures revenue and margins.
• Fuel prices remain high.
Above has impacted margins and net income.
EBITDA sharply dropped to USD 302.5 million in FY 23 vs a record high of 1,238.6 million in FY 22
for the above reason ie. Royalty and other mandatory levies including controlled domestic prices, higher
strip ratio and fuel cost.
Bumi has made efforts to reduce costs – operating expenses dropped by 30.8% to USD234 million in
FY 2023 (vs USD 338.3 million in FY 2022).
Bumi is making progress on its coal downstream project with an overseas partner and is in dialogue with
Authorities to reach closure for this project and other non-coal projects pursuits.
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Performance FY23 vs FY22 on Statutory PSAK66 Basis – Consolidates Arutmin but Equity
Accounted KPC
Highlights of FY 2023 performance vs FY 2022 is given below for your information.
Gross Revenue USD 1,679.9 million vs USD 1,830.1 million or decreased by 8.2%.
Cost of Revenue USD 1,542.7 million vs USD 1,459.4 million or increased by 5.7%.
Gross Margin USD 137.3 million vs USD 370.6 million or decreased by 63.0%.
Operating Expenses USD 80.5 million vs USD 147.3 million or decreased by 45.4%.
Operating Income USD 56.8 million vs USD 223.4 million or decreased by 74.6%.
Income before Tax & Profit
USD 82.4 million vs USD 694.1 million or decreased by 88.1%.
Sharing
Decreased by 95.2% to USD 26.9 million vs USD 556.7 million – Sharp Drop of
Income For the Period USD 529.8 million.
Net Income For the
Decreased by 97.9% to USD 10.9 million vs USD 525.3 million – Sharp Drop of
Period Attributable to:
USD 514.4 million.
Owners of The Parent
AWARDS
• BUMI Win Best Company with A+ Score in Sustainability Reporting 2021 amongst 257 public companies
by FIHRRST (March 2023). This award marks the Company's third consecutive win in three years.
• Bumi Ranked Gold Rating in the Bisnis Indonesia Corporate Social Responsibility (BISRA) Awards
(15 Aug 2023).
• BUMI Win Coal Champion for ESG & Sustainability Business Principles - TrenAsia 2023 by TrenAsia
(4 Sept 2023).
• BUMI Wins Top GRC Award & Most Committed GRC Leader Award by TOP GRC Awards 2023
(6 Sept 2023).
• BUMI Win Leadership AA rating (one of the highest ratings) in ESG Disclosure of The Year Awards 2023
(28 Nov 2023).
• BUMI Win CIR Risk Management Awards 2023 in the International Risk Management category
(30 Nov 2023).
• BUMI Win Best of the Best Company in Human Rights Risk Assessment Award from the Ministry of Law
and Human Rights (10 Dec 2023).
EARNINGS CALL ON FY 2023 RESULTS & FY 2024 PROSPECTS
An earnings call is planned next month – details would be advised separately.
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 FY 2023 – on 100% Basis for KPC & Arutmin
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Appendix - 2
Full Consolidation Method FY-23 vs FY-22
In USD
31 Desember / 31 Desember /
December 31, 2023 December 31, 2022
Metode Konsolidasi/ Metode Konsolidasi/
Consolidation Method Consolidation Method
PENDAPATAN 6,574,510,584 8,532,044,923 REVENUES
BEBAN POKOK PENDAPATAN (5,978,687,734) (6,126,896,129) COST OF REVENUES
LABA BRUTO 595,822,850 2,405,148,794 GROSS PROFIT
BEBAN USAHA (234,003,126) (338,300,749) OPERATING EXPENSES
LABA USAHA 361,819,724 2,066,848,045 OPERATING INCOME
(BEBAN) PENDAPATAN LAIN-LAIN - NETO (107,496,111) (204,143,841) OTHER (EXPENSE) INCOME - NET
LABA SEBELUM BEBAN INCOME BEFORE INCOME
PAJAK PENGHASILAN 254,323,613 1,862,704,204 TAX EXPENSE
BEBAN PAJAK PENGHASILAN (111,258,331) (539,562,519) INCOME TAX EXPENSE
LABA NETO SETELAH PAJAK 143,065,282 1,323,141,685 NET INCOME AFTER TAX
BAGI HASIL (25,644,025) (159,345,803) PROFIT SHARING
LABA NETO 117,421,257 1,163,795,882 NET INCOME
Total Laba Tahun Berjalan Yang Dapat Total Net Income For The Year
Diatribusikan Kepada: Attributable To:
Pemilik Entitas Induk 10,923,450 525,274,341 Owners of the Parent Company
Kepentingan Non-Pengendali 106,497,807 638,521,541 Non-Controlling Interests
117,421,257 1,163,795,882
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Appendix - 3
Performance FY23 vs FY22 on Statutory PSAK66 Basis – Consolidates Arutmin but Equity Accounted KPC
In USD
31 Desember / 31 Desember /
December 31, 2023 December 31, 2022
Metode PSAK66/ Metode PSAK66/
PSAK66 Method PSAK66 Method
PENDAPATAN 1,679,948,765 1,830,079,927 REVENUES
BEBAN POKOK PENDAPATAN (1,542,653,836) (1,459,438,981) COST OF REVENUES
LABA BRUTO 137,294,929 370,640,946 GROSS PROFIT
BEBAN USAHA (80,482,691) (147,277,732) OPERATING EXPENSES
LABA USAHA 56,812,238 223,363,214 OPERATING INCOME
(BEBAN) PENDAPATAN LAIN-LAIN - NETO 25,537,976 470,781,694 OTHER (EXPENSE) INCOME - NET
LABA SEBELUM BEBAN INCOME BEFORE INCOME
PAJAK PENGHASILAN 82,350,214 694,144,908 TAX EXPENSE
BEBAN PAJAK PENGHASILAN (49,924,476) (115,590,243) INCOME TAX EXPENSE
LABA NETO SETELAH PAJAK 32,425,738 578,554,665 NET INCOME AFTER TAX
BAGI HASIL (5,524,771) (21,890,159) PROFIT SHARING
LABA NETO 26,900,967 556,664,506 NET INCOME
Total Laba Tahun Berjalan Yang Dapat Total Net Income For The Year
Diatribusikan Kepada: Attributable To:
Pemilik Entitas Induk 10,923,450 525,274,341 Owners of the Parent Company
Kepentingan Non-Pengendali 15,977,517 31,390,165 Non-Controlling Interests
26,900,967 556,664,506
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Ministry of Law and Human Rights
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