Dana Brata Luhur (TEBE) Targets IDR 700 Billion Revenue by the End of the Year

Dana Brata Luhur (TEBE) Targets IDR 700 Billion Revenue by the End of the Year

PT Dana Brata Luhur Tbk (TEBE) targets revenues to reach Rp 700 billion this year, with a net profit of around Rp 300 billion.

This target has increased from the previously set target, where this year’s TEBE TEBE targets revenue to exceed Rp. 500 billion with a profit target of around 40% of this year’s projected revenue, aka Rp. 200 billion.

This upward revision is inseparable from solid coal prices. Director of Dana Brata Luhur, Hendy Narindra Dewantoro predicts that the trend of coal prices and demand for coal will remain high at the end of this year and in 2023.

According to Hendy, the solid price of coal is due to the ongoing war between Russia and Ukraine. Therefore, TEBE takes advantage of this momentum by maximizing the capacity and facilities of coal supporting services

“One of them is the addition of conveyor line 4 and other supporting facilities,” explained Hendy, Sunday (6/11).

Hendy continued, with the installation of a new conveyor at line 4 of the TEBE port, it is expected that coal throughput will increase by the end of 2022 to 10.6 million metric tons (MT). TEBE will also revise the port’s installed capacity to 19 million MT per year and the target volume in 2023 is targeted to be 15 million MT.

As of September 30 2022, TEBE managed to achieve a total throughput of 7.35 million MT. This figure has exceeded the target set by TEBE for the third quarter of 2022 which was 5.48 million MT. The increase in total throughput led to an increase in total loading volume which increased 58.6% compared to the third quarter of the previous year.

As of the third quarter of 2022, TEBE posted excellent performance. TEBE recorded a net profit of IDR 224.58 billion as of the end of September 2022. This amount shot up 111.5% from the net profit realized by TEBE in the same period last year, which was IDR 106.15 billion

This increase in net profit was followed by an increase in TEBE’s revenue. This issuer, which is engaged in the transportation of mining products, posted revenue of IDR 525.99 billion, an increase of 81.8% from revenue as of September 2021, which was only IDR 289.35 billion.