DOID Records Revenue In The Third Quarter Of 2023 Of 1.36 Billion US Dollars

Photo: (Aris Nurjani/VOI)

JAKARTA PT Delta Dunia Makmur Tbk or Delta Dunia Group (DOID) recorded revenue during the period January to September 2023 amounting to 1.36 billion US dollars.

This revenue increased by 18.63 percent compared to the same period last year of 1.14 billion US dollars.

As of September 2023, the Delta Dunia Group also posted a net profit of 21.6 million US dollars.

This net profit grew 5.25 percent compared to the same period last year of 20.5 million US dollars.

President Director of the Delta Dunia Group Ronald Sutardja expressed his gratitude for this achievement and was proud to be a mining service company trusted by leading world mining companies in Indonesia and Australia.

"Good track records make us have long-term relationships with our partners. Of course, this is inseparable from the consistency of our production performance, as well as the professionalism of our employees and management, so that we have succeeded in achieving the trust of our customers and business partners," he said in his official statement Thursday, December 14.

Ronald added that the company's EBITDA recorded an increase to 302 million US dollars, an increase of 11 percent (yoy).

During the third quarter of 2023, the Delta Dunia Group hit a record quarterly EBITDA of 127 million US dollars, reflecting a consistent increase in the EBITDA margin since the first quarter of 2023.

As a result, operating cash flow also increased to $227 million, mainly due to higher EBITDA, better working capital management, and increased tax returns.

This makes a positive cash flow of 159 million US dollars and a higher cash rate of 230 million US dollars.

The net debt to EBITDA ratio is also recorded to remain healthy and be in a downward trend at 1.82x, the lowest in the last five years.

In addition, the Delta Dunia Group has completed its capital expenditure cycle and continues to develop to keep the ratio trend healthy.

Furthermore, DOID's subsidiary, namely PT Bukit Makmur Mandiri Utama (BUMA), and BUMA Australia Pty Ltd (BUMA Australia) showed strong operational performance, with an increase in overburden volume (OB) by 12 percent (YoY) to 462 million bank cubic meters (bcm) and coal production by 64 million tons.

Director of Delta Dunia Group Dian Andyasuri said that long-term success can only be achieved through approaches that consider a good environment, social, and governance.

Therefore, Dian said, his party is determined to reduce the carbon footprint and towards net zero carbon by 2050.

Dian said that his party also implemented more efficient operating technology and diversified it to low-carbon businesses, with the target of thermal coal revenue to less than 50 percent by 2028.

"In the social aspect, we have ambitions to improve the standard of living of more than one million people in the Delta Dunia Group ecosystem by 2050. Finally, governance. We are committed to running our business with high integrity." he said.

The World Group Delta through its subsidiaries, BUMA, Australia, and PT BISA Ruang Nuswantara (BIRU) also continue to be strongly committed to ESG.

This is in line with the company's ESG framework in supporting government initiatives to achieve Indonesia's emission-free target by 2050.

This commitment to ESG is also reflected in the company's business diversification strategy to low-carbon commodities such as metalurgy coal and future commodities that are promising (future forcing commodities).

In addition, 100 percent of the company's operational sites have completed its carbon footprint assessment. Meanwhile, Australia's EARTH has carried out progressive rehabilitation throughout 2023, with 75.5 hectares of the region having been rehabilitated.

Meanwhile, the Delta Dunia Group also has a commitment to empowering human resources and gender equality in the work environment.

As many as 9 percent of Australia's total BUMA workers are natives and in the third quarter of 2023, 45 percent of management positions in the Delta Dunia Group are held by women.

"We will continue to carry out our goals, create optimal values for all stakeholders, and have a positive impact on the environment and society," concluded Ronald.