MINING COMPANY - JAKARTA. PT Royaltama Mulia Kontraktorindo Tbk, an energy sector issuer (RMKO), is targeting a revenue of IDR 380 billion, a 41% increase from the previous year's IDR 272.4 billion.
RMKO's CEO, Vincent Saputra, stated that the company aims to increase this year's net profit to IDR 62.9 billion, up from IDR 19.8 billion last year.
"We are more optimistic about a net profit of IDR 62.9 billion this year, up from IDR 19.8 billion last year, and a revenue of IDR 380 billion," said Vincent in Jakarta on Thursday (18/4).
He explained that RMKO is targeting a coal increase this year to 1.2 million tons, up from the previous 1 million tons.
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The issuer, which is under the control of PT RMK Investama and is part of the same group as PT RMK Energy Tbk (RMKE), has budgeted a capital expenditure (capex) of IDR 28 billion for infrastructure development.
RMKO's CFO, Nathania Pricilla Saputra, added that this year, RMKO will continue to seek opportunities to collaborate with several potential mines in South Sumatra and its surroundings by providing integrated logistics solutions.
"This collaboration will increase the volume of mining services and simultaneously improve the performance of the rental and construction segments," said Nathania.
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According to the presentation, RMKO increased its operating revenue by 47.4% YoY to IDR 272.4 billion at the end of 2023.
The operating revenue came from the mining services, rental, and construction segments, which contributed 52.2%, 23.3%, and 24.5% respectively to RMKO's total operating revenue.
Vincent stated that 2023 was a challenging investment stage for RMKO. This was because operations were temporarily affected as RMKO's main client, the in-house mine owned by RMKE, had to cease operations for 3 months due to administrative sanctions from the regulator.
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In the 4Q of 2023, RMKE had fulfilled these sanctions, allowing operations to return to normal by mid-November 2023.
In the remaining short time, RMKO optimized its financial performance at the end of 2023, supported by a new business segment, the construction of mining support facilities hauling road.
