JAKARTA. PT Delta Dunia Makmur Tbk (DOID) booked net profit of USD 36 million throughout 2023, increasing 26% year-on-year (yoy) from the net profit in 2022.

Dian Andyasuri, Director of DOID, said that this net profit surge was supported by strategic transformation and business diversification initiated by the company. These, as well, she added, are the company’s transition to low-carbon economy.

“As of now, we adapt to the slowing-down of thermal coal demand. We utilise the high demand in metallurgical coal, which continues to be an important material in steel production,” Andyasuri added in the official statement.

For the record, as of now, metallurgical coal has contributed up to 19% of total revenue of DOID. This figure will continue to be boosted, in order to lower the dependency on thermal coals, to 50% by 2028.

According to IDNFinancials data, DOID’s revenue in 2023 clocked up to USD 1.8 billion. Its revenue grew 18% yoy.

Meanwhile, the realised capital expenditure (capex) of DOID in 2023 was reported at USD 121 million. The realisation of capex in this period is 20% yoy lower, presumably due to the timely completion of several projects. The amount of realised capex is actually in line with the estimation for the fiscal year 2023, in which the company budgeted approximately USD 105 to 145 million. (KR/ZH)