Delta Dunia Makmur Tbk (DOID), a mining service company, booked a loss of USD 25.58 million in the first half of 2024.
However, at the top-line, DOID’s net revenue in H1 2024 was corrected 0.24% yoy to USD 854.98 million. In the same period last year, net revenue was recorded at USD 857.07 million.
DOID’s loss in H1 2024 was allegedly triggered by a quite significant decline in operating profit, as seen in the financial report. DOID’s gross profit in H1 2024 shrank 23.6% yoy to USD 73.86 million.
In addition, DOID’s financial expenses also swelled 32% yoy to USD 56.94 million in H1 2024. Other expenses borne by the company multiplied over 8 times to USD 15.65 million, most of which came from losses from foreign currency exchange of USD 12.21 million.
Despite so, Dian Andyasuri, Director of DOID, mentioned that the company’s performance could be deemed relatively stable amidst the extreme weather and weakened rupiah. “Delta Dunia Group generated a stable performance in the first half of 2024,” she added in the official statement.
In the meantime, Fuad Salim, Director of DOID, said that the company will remain focus on operational excellence and meticulous financial management in the second half of 2024. “As we implement growth strategy simultaneously,” he added.
It is worth mentioning that DOID had recently acquired anthracite manufacturer based on the United States called Atlantic Carbon Group Inc. The acquisition value is estimated reaching USD 122.4 million or approximately IDR 1.98 trillion. (KR/ZH)