PT Dian Swastatika Sentosa (DSSA) Q3 2024 earnings summary

Executive summary

• Interim consolidated financial statements for the nine months ended September 30, 2024, were audited and received an unqualified opinion, confirming fair presentation in accordance with Indonesian Financial Accounting Standards.

• The Group operates in power generation, coal mining and trading, multimedia, and infrastructure, with significant business in coal mining and trading.

• A major restructuring in 2023 included the disposal of GEAR and acquisition of additional GEM shares, resulting in direct ownership of 51% in GEM.

Financial highlights

• Revenues for the nine months ended September 30, 2024, were US$2.24 billion, down from US$4.09 billion in the same period last year.

• Net profit for the period was US$440.0 million, compared to US$745.5 million for the same period in 2023.

• Gross profit was US$942.2 million, down from US$1.72 billion year-over-year.

• Total assets increased to US$3.51 billion as of September 30, 2024, from US$3.06 billion at December 31, 2023.

• Cash and cash equivalents rose to US$695.1 million from US$617.3 million at year-end 2023.

• Basic earnings per share for the period was US$0.04, compared to US$0.05 in the prior year.

Outlook and guidance

• The Group continues to expand its internet services and general corporate activities, supported by recent bond and sukuk issuances.

• Management expects no significant impact from recent regulatory changes in mining law on near-term operations.