Dana Brata Luhur (TEBE) Targets Transporting 12 Million Tons of Coal This Year

Dana Brata Luhur (TEBE) Targets Transporting 12 Million Tons of Coal This Year

..the prospect of coal this year will not change much. Moreover, the conflict between Russia and Ukraine has yet to show signs of peace…

Hendy Narindra Dewantoro
(Director of PT Dana Brata Luhur Tbk)

PT Dana Brata Luhur Tbk ( TEBE ) targets coal barging volume to reach 12 million metric tons (MT). This target has increased by 11% from last year’s actual barging which reached 10.74 million MT of coal.

Dana Brata Luhur Director Hendy Narindra Dewantoro said this target was set in line with management’s optimism that coal prices are projected to still have the upper hand this year.

‚ÄúTEBE sees that the prospect of coal this year will not change much. Moreover, the conflict between Russia and Ukraine has yet to show signs of peace, so it is estimated that coal prices will remain high in 2023,” Hendy told Kontan.co.id, Monday (16/1).

Last year, TEBE succeeded in exceeding its barging volume target . From the target of 7 million tons, TEBE managed to realize 10.7 million tons of transported coal.

The solid coal price has also boosted TEBE’s performance throughout the first nine months of 2022. TEBE recorded a net profit of IDR 224.58 billion at the end of September 2022.

This amount shot 111.5% from the net profit realized by TEBE in the same period last year, which amounted to IDR 106.15 billion. Thus, TEBE’s basic earnings per share rose to IDR 174.77 from previously only IDR 82.61.

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.

TEBE’s revenue is supported by revenue from mining support facilities, namely from port services worth IDR 491.33 billion. The rest is revenue from road facility services worth Rp. 43.90 million and rental income of Rp. 34.61 billion.

In detail, revenues to certain parties that exceed 10% of total operating revenues, namely to PT Aero Mandiri worth Rp. 154.08 billion or the equivalent of 29.29% and PT Banjar Bumi Persada worth Rp. 69.71 billion or equal to 13.25%.

Hendy said that high coal prices were still one of the reasons for the increase in TEBE throughput . The war between Russia and Ukraine led to an increase in coal prices

“TEBE as an infrastructure service provider that supports coal producers, has certainly experienced an increase in throughput in line with the increase in coal producer activity,” explained Hendy.

Meanwhile, TEBE projects that revenue in 2023 will reach Rp. 840 billion, with an estimated net profit of Rp. 294 billion.

One of TEBE’s performance supports is the completion of completing the development/upgrade of Conveyor Line-4 by TEBE’s subsidiary, namely PT Talenta Bumi. The conveyor has an installed capacity of 2,000 tonnes per hour.

Conveyor Line-4 has the largest installed capacity of the 3 Conveyor Lines currently owned by PT Talenta Bumi, each of which has a capacity of only 1,000 MT per hour.

Source: investasi.kontan.co.id

EN