JAKARTA. PT Delta Dunia Makmur Tbk (DOID), a mining company that has been operating since 1992, booked revenue of USD 0.86 billion or equal to IDR 13.35 trillion in the first half (H1) of 2023.

DOID’s revenue in H1 2023 grew 19% year-on-year (yoy), which coincided with the transformation of its core business and business diversification strategy implemented by the company, as stated by Dian Andyasuri, Director of Delta Dunia Group.

“In this first half of the year, we have achieved a significant change in our revenue composition. Metallurgical coal and infrastructure covered 18% of it, being marked as a significant step to reduce the proportion of revenue made up by thermal coal production, which now reaches 82% of it,” explained Andyasuri in the official statement.

Throughout H1 2023, the volume of materials discovered by DOID in the mining area was recorded at 286 million bank cubic metres (bcm). Then, the overburden volume was recorded growing 10% yoy, while coal production increased 2% yoy.

With said operational performance record, DOID’s EBITDA increased 7% yoy in H1 2023 to USD 175 million or IDR 2.71 trillion. However, the margin was down 3% yoy due to inflation.

“The net profit slightly deflated to USD 5 million (IDR 77.63 billion), 13% yoy lower, most of which was caused by swollen funding due to increased London Inter-Bank Offered Rate (LIBOR),” added Andyasuri. (KR/ZH)