JAKARTA. Kideco Jaya Agung (Kideco) has brought the highest contribution to PT Indika Energy Tbk’s (INDY) revenue in the first half of 2021, which reaches USD 1.28 billion. It is 14.1% higher than USD 1.12 billion reported in H1 2020.
INDY’s revenue growth is a result of the positively shifting coal prices produced by its subsidiaries. They include Kideco, PT Petrosea Tbk, and PT Multi Tambangjaya Utama.
Kideco has become the biggest contributor to the revenue after its coal selling price jumps 21.9% from USD 39.8 per ton to USD 48.6 per ton in H1 2021. It is further supported by the increasing volume of coal sales, rising 8.5% from 16.6 million tons to 18.1 million tons. Additionally, Petrosea also brings in a 9% growth in its revenue following the improved performance in mining contracts,
Meanwhile, Indika Energy has realised USD 37 million of its capital expenditure within the first six months of 2021. It equals 29.7% of the total CapEx budget of this year that amounts to USD 124.8 million. (AM/ZH)