Indonesia Bumi Earns US$2.33 Bn of Income

VIVAnews - PT Bumi Resources Tbk (BUMI) has accounted US$ 2.33 billion worth of revenue within nine months of 2009. However, the particular amount was a slight decrease of 4.2 percent compared to last year’s amount of US$ 2.43 billion in the same period.

Meanwhile, the company’s net profit until the third quarter of 2009 reached US$ 360.22 million, declining 26.5 percent compared to the same period of 2008 which was US$ 490.14 million.

Earlier, Bumi Resources Senior Vice President of Investor Relations, Dileep Srivastava told VIVAnews that Bumi’s reported profit was US$ 362 million. According to him, the slump was triggered by the increase in the company’s tax obligation amount.

He also said the company was subjected to US$ 173.45 million worth of tax in the third quarter of 2009 while in the same period last year, the amount was only US$ 6.95 million.

“Without taking the tax into account, our profit it around US$ 535 million,” Srivastava told VIVAnews in Jakarta on Thursday, December 31.

But, Bumi’s published financial report indicates that the company’s profit before income tax was US$ 666.55 million. Previously, the amount was US$ 700.72 million.

The report also stated that the company’s asset reaches US$ 6.56 billion with US$ 4.35 billion worth of bonds. Meantime, the amount of net equity was reportedly US$ 1.82 billion.

However, Srivastava added that earnings before interest, tax, depreciation and amortization (EBITDA) in the period were not much different than the third quarter of 2008.

In addition, Bumi has successfully lowered production costs to 15 percent.

Srivastava also pointed out that the company intends to hold a press conference on January 10, 2010.

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Translated by: Nataya Ermanti

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25 April 2024