Mining Directory

Dividend season has arrived. Not to forget, PT Mitrabara Adiperdana Tbk (MBAP) will also distribute cash dividends worth a total of Rp 641.86 billion or Rp 523 per share. This was approved at the company's Annual General Meeting of Shareholders (AGMS), Tuesday (7/6/2022).

"The AGM approved the use of the company's net profit obtained in 2021. Approved or ratified the distribution of dividends that had been carried out on October 15, 2021. Approved the plan to provide cash dividends for the financial year ending December 31, 2021," explained the Corporate Secretary Mitrabara Adiperdana Chandra Lautan to Investor Daily , Tuesday (7/6/2022).

Throughout 2021, Mitrabara generated a net profit of US$ 100.56 million, up 266% compared to the previous year which was US$ 27.46 million. This profit came from revenues of US$ 309.84 million last year, which rose 53.99% from the previous year which was US$ 201.21 million.

The operating profit margin in 2021 will reach 41.52%, an increase compared to 2020 which was 18.14%. Management explained that the increase was due to the Reference Coal Price (HBA) which reached US$ 215.01 per metric ton in November 2021, then closed at US$ 159.79 per metric ton in December 2021.

"The December 2021 HBA has increased by 167.88% compared to December 2020 which was at a position of US$ 59.65 per metric ton," explained the management. Meanwhile, for the first quarter of 2022, MBAP recorded a net profit of US$ 44.57 million, an increase of 204.98% compared to the first quarter of 2021 which was US$ 14.61 million. The increase was still obtained by the company, even though during that period there was a ban on exports, to be precise in January 2022.

This is because the sales target for MBAP in the first quarter of 2022 is dominated by domestic markets with a portion reaching 32%, followed by South Korea with 26% and China with 22%. Whereas in the previous year, the majority of MBAP sales were aimed at China up to 45%, followed by South Korea at 20%. Coal sales to Indonesia are only 6% throughout 2021.

However, the sale of the majority of coal to the domestic market did not erode the company's revenue and profit because the HBA applicable in the country also increased. "HBA has increased since early 2022, recorded at US$ 158.5 per metric ton in January 2022 and then continued to increase to US$ 203.69 per metric ton in March 2022," Chandra explained.

This year, MBAP plans to produce 3.75 million tons of coal, a slight decrease compared to the production realization in 2021 which was 3.91 million tons. MBAP Director Syadaruddin said, as of March 31, 2022, the company had produced around 1.01 million tons of coal. “Our sales are more or less the same as coal production. For the revenue and net profit targets, considering that the price of coal is a commodity whose price is influenced by the market, the company has not been able to provide this information," said Chandra. (C02)

Source: https://investor.id/market-and-corporate/296074/musim-dividen-telah-tiba-mitrabara-mbap-siap-setor-rp-6418-miliar