PT Bumi Resources (BUMI) Q3 2024 earnings summary

Executive summary

• Interim consolidated financial statements for the nine months ended September 30, 2024, are audited and prepared in accordance with Indonesian Financial Accounting Standards.

• The independent auditor issued an unqualified opinion, confirming fair presentation of financial position and results.

• Management asserts responsibility for the accuracy and completeness of disclosures and internal controls.

Financial highlights

• Revenue for the nine months ended September 30, 2024, was USD 926.9 million, down from USD 1,174.7 million year-over-year.

• Net income attributable to owners was USD 122.9 million, up from USD 58.3 million year-over-year.

• Gross profit was USD 93.6 million, compared to USD 78.9 million in the prior year.

• Total assets increased to USD 4.27 billion from USD 4.20 billion as of December 31, 2023.

• Total liabilities decreased to USD 1.37 billion from USD 1.43 billion as of December 31, 2023.

• Basic/diluted EPS for the period was USD 0.33 per 1,000 shares, up from USD 0.16.

Outlook and guidance

• The group is focused on operational excellence, increasing production volumes, cost control, and efficiency.

• Strategic plans include accelerating development of subsidiaries, especially BRMS, to leverage stable commodity prices.