This is the Reason Why Dana Brata Luhur (TEBE) Achieved High Performance Until the Third Quarter of 2022
07 November 2022
The performance of PT Dana Brata Luhur Tbk ( TEBE ) was strong throughout the first nine months of 2022. The burning coal price throughout this year boosted the company’s 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
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.
In detail, 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, revenue to certain parties that exceed 10% of total operating revenues, namely to PT Aero Mandiri worth IDR 154.08 billion or the equivalent of 29.29% and PT Banjar Bumi Persada worth IDR 69.71 billion or the equivalent of 13.25%.
Dana Brata Luhur Director Hendy Narindra Dewantoro said, 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 to Kontan.co.id, Sunday (6/11).
On the other hand, the number of burdens borne by TEBE has increased. One of them is the cost of goods sold which rose 56.2% to Rp 210.15 billion. General and administrative expenses rose to Rp 28.28 billion from the previous Rp 26.04 billion. However, interest and finance expenses decreased 42.5% to Rp 5.73 billion.