Harum Energy, Coal Mining Company Owned By Conglomerate Kiki Barki Raises Revenue Of IDR 1.6 Trillion In Semester I 2021

Illustration. (Photo: Doc. Antara)

JAKARTA - PT Harum Energy Tbk (HRUM) recorded performance growth in terms of revenue in the first six months of this year. The coal company's revenue reached 115.72 million US dollars (around Rp. 1.6 trillion) in the first semester of 2021.

In Harum Energy's financial report, quoted on Wednesday, August 4, it was stated that the company's revenue, owned by conglomerate Kiki Barki, rose 12.74 percent from sales realization in the same period last year of 102.54 million US dollars.

In detail, HRUM's revenue consists of revenue from contracts with customers in the form of coal sales to the export market worth 108.9 million US dollars. This was followed by revenue from the rental segment, namely heavy equipment with a value of 2.79 million US dollars, revenues from road transportation of 2.32 million US dollars and revenues from the time, freight and voyage charter segments worth 1.63 million US dollars.

Despite the increase in revenue, HRUM recorded a decline in net profit of 52.7 percent, from the original 21.92 million US dollars to 10.35 million US dollars. One of the reasons for the decline in Harum Energy's net profit was other expenses, which increased 55.9 percent from 4.85 million US dollars to 11.02 million US dollars.

These other expenses include changes in the fair value of financial assets traded on the Indonesia Stock Exchange and the Australian Stock Exchange on the NWLR as well as losses on disposal of property, plant and equipment.

On the other hand, Harum Energy managed to cut some of its burdens. Cost of revenue, for example, decreased 15.08 percent from the original 71.21 million US dollars to 60.47 million US dollars. Selling expenses also decreased slightly from 6.31 million US dollars to 6.22 million US dollars.

HRUM's total assets are 613.58 million as of June 2021. It consists of liabilities worth 146.04 million US dollars and equity worth 467.53 million US dollars.