Media OutReach

Delta Dunia Group Delivers Steady 9M 2024 Results with Transformative Milestones to Fuel Long-Term Growth

Published

12 months ago

20/12/2024

Despite significant challenges posed by extreme weather conditions in Indonesia and Australia, Delta Dunia Group reported a stable revenue of USD 1.35 billion during 9M 2024.
EBITDA for 9M 2024 declined by 16% YoY to USD 252.3 million, impacted by weather-related production declines and planned investments.
Net loss significantly improved to USD 17.4 million, down from USD 26.6 million reported in 1H 2024, despite a 20% increase in finance costs and forward-looking investments. A strengthening currency, stable SOFR rates, and ACG’s results – denominated in USD – supported this improvement.
Capex increased by 79% YoY to USD 133.1 million, focused on supporting existing site ramp-up and Repair and Maintenance costs. The Group remains on track to meet its full-year capex guidance of USD 150 million to USD 190 million.
Operating cash flow increased by 2% YoY to USD 232 million, driven by effective working capital management. The Group’s free cash flow was impacted by strategic investments in ACG and contract-linked Capex.
Net Debt to EBITDA maintained at a healthy 2.17x as of September 2024, with acquisitions like ACG expected to improve the ratio.
The Group strengthened its operational footprint with significant contracts, including an 11-year, USD 7.8 billion agreement with PT Indonesia Pratama (a Bayan Group subsidiary), a two-year extension at Australia’s Meandu Mine with TEC Coal Pty Ltd, valued at AUD 200 million annually, and a new USD 755 million Life-of-Mine contract with PT Persada Kapuas Prima in Central Kalimantan. These contracts have effectively tripled the Group’s order book to over USD 12.7 billion.
The Group also marked pivotal milestones through the transformative acquisitions of ACG, the binding agreement to acquire 51% stakes in the Dawson Complex [1], one of Australia’s largest metallurgical coal mines, and increased investments in 29Metals, an ASX-listed copper-focused base and precious metals mining company.
Non-thermal coal revenue is projected to reach 28% by the end of 2024, up from 26% in 9M 2024, aligning with the Group’s strategy to reduce reliance on thermal coal and transition towards a more diversified portfolio.

JAKARTA, INDONESIA – Media OutReach Newswire – 20 December 2024 – PT Delta Dunia Makmur Tbk (“Delta Dunia Group” or “the Group”, IDX: DOID) announced stable results for the first nine months of 2024 (“9M 2024”), forging ahead on its path to sustainable growth in key global markets, demonstrating resilience in its operations and financial performance despite extreme weather conditions and operational challenges. The Group is making significant strides in strengthening its core business and laying a solid foundation for future growth through strategic acquisitions and investments.

In 9M 2024, the Group maintained stable revenue of USD 1.35 billion, compared to USD 1.36 billion year-on-year (“YoY”), despite operational disruptions caused by increased rainfall in Indonesia and Australia, which rose by 38% and 53%, respectively. The effective recovery-after-rain initiative limited the decline in overburden (OB) removal to just 9% YoY, while coal production increased by 3%, demonstrating the effectiveness of its mitigation strategies and operational resilience. The Group’s EBITDA declined by 16.4% YoY to USD 252.3 million, impacted by these extreme conditions and planned investments aimed at enhancing the Group’s long-term production capacity.

The strengthening of the Indonesian Rupiah (IDR) and Australian Dollar (AUD) against the US Dollar (USD), along with a stable Secured Overnight Financing Rate (SOFR), has enabled the Group to manage financial pressures more effectively. In 9M 2024, the Group experienced a 20% YoY increase in finance costs due to forward-looking growth investments, leading to a net loss of USD 17.4 million – a significant improvement from the USD 26.6 million net loss reported in the first half of 2024. It’s important to note that this loss is primarily attributed to proactive measures taken to strengthen the Group’s financial foundation, including early debt repayment and bond buybacks. These actions, while impacting short-term results, are expected to reduce interest expenses and enhance financial flexibility over the long term.

Iwan Fuad Salim, Director at Delta Dunia Group, stated, “9M 2024 marked another pivotal phase in our transformation journey, underscored by major milestones solidifying our path toward sustained growth. Our rigorous focus on operational excellence, geographic expansion, commodity diversification, and sustainability positions us robustly in the global mining landscape. Through strategic acquisitions, significant contract wins, and our further diversification toward non-thermal coal and base metals, we are building a diversified, future-ready business that delivers enduring value for all stakeholders.”

Strategic Investments and Important Contracts Fuel Long-Term Growth

The Group has achieved significant milestones that substantially enhanced its future growth. Key developments include an 11-year, USD 7.8 billion contract extension with PT Indonesia Pratama (IPR), a Bayan Group subsidiary, and a two-year, AUD 200 million annual extension for Australia’s Meandu Mine with TEC Coal Pty Ltd. Additionally, a new USD 755 million Life-of-Mine contract with PT Persada Kapuas Prima (PKP) in Central Kalimantan. These agreements not only spread-out risks but also strengthened the Group’s portfolio’s geographic spread, effectively tripling the Group’s order book to over USD 12.7 billion, reinforcing customer confidence in the Group’s operational capabilities and commitment to long-term partnerships.

The Group also took significant steps to solidify its foundation for sustainable growth through strategic acquisitions. The acquisition of a majority stake in Atlantic Carbon Group, Inc. (“ACG”) marks its entry into the US market, expanding its business into mine ownership. ACG’s financial and performance results, denominated in USD and thereby insulated from foreign exchange risks and currency fluctuations, have been consolidated into the Group’s Q3 2024 results. With the inclusion of ACG’s ultra-high-grade anthracite, non-thermal coal now accounts for 26% of the Group’s revenue, reducing the proportion derived from thermal coal, which currently stands at 74%. Non-thermal coal revenue is projected to reach 28% by the end of 2024.

Moreover, to strengthen its presence as a mine owner, the Group has further entered a binding agreement to acquire a 51% stake in the Dawson Complex, one of Australia’s largest metallurgical coal mines. This high-capacity operation features an annual production capacity of more than 8 million bcm, over 20 years of reserves, and a resource life of 50 years, with a Coal Handling and Preparation Plant (CHPP) capacity surpassing 12 million tons per annum. The Dawson Complex, operational for over 60 years, has fostered strong relationships with key Asian markets, including India and Japan. The Group has also increased its stake in 29Metals Limited, an Australian copper-focused base and precious metals mining company, to advance its diversification into base and precious metals, further reducing its reliance on thermal coal.

Focusing on strategic expansion and diversification, the Group’s capital expenditures reached USD 133.1 million in Q3 2024, marking a 79% increase YoY. These investments enhance operational efficiency and facilitate growth through expansions at existing sites, alongside Repair and Maintenance (R&M) costs that ensure the longevity and efficiency of the Group’s assets, in line with its full-year Capex guidance of USD 150 million to USD 190 million. Simultaneously, improved working capital management led to a 2% increase in operating cash flow, reaching approximately USD 232 million. Free cash flow (FCF) was recorded at USD 80.2 million. However, post-acquisition FCF decreased to USD -35.6 million due to strategic investments, particularly in ACG and contract-linked Capex. These investments represent the Group’s commitment to growth and building a lasting legacy.

Financial Strength and Commitment to Shareholder Value

The Group remains committed to enhancing shareholder value while sustaining a strong financial position through prudent financial management, strategically aligning debt maturity with the lifespan of its operational equipment. As of September 2024, the Group marks a healthy Net Debt/EBITDA ratio of 2.17x. Recent acquisitions, including ACG, are expected to drive improved performance and further strengthen this ratio as ACG’s EBITDA is fully integrated.

The successful issuance of BUMA II 2024 Rupiah Bonds in September 2024, which was 1.4x oversubscribed, demonstrates robust investor demand and confidence in BUMA’s cash flow management and credit profile. This bond issuance has enabled BUMA to secure greater investor commitments for longer-term tenors, significantly enhancing its ability to manage its debt maturity profile effectively.

“We are dedicated to maintaining solid financial management, especially in upholding strong credit metrics and reinforcing our strong presence in the mining sectors in Indonesia, Australia, and the US. The financing strategy we have implemented strengthens our financial foundation and enables us to grow our business, cementing our reputation as a globally diversified mining company,” Iwan concluded.

[1] Subject to Peabody’s acquisition of Dawson, certain pre-emptive rights, consents, and regulatory approvals
Hashtag: #DeltaDuniaGroup

The issuer is solely responsible for the content of this announcement.

About PT Delta Dunia Makmur Tbk (Delta Dunia Group):

Established in 1990, PT Delta Dunia Makmur Tbk (Delta Dunia Group) is a prominent holding company operating in Indonesia, Australia, and the USA. Our principal subsidiary, PT Bukit Makmur Mandiri Utama (BUMA), is a leading provider of mining services to some of the largest miners in Indonesia and Australia (through BUMA Australia Pty Ltd). In June 2024, through PT Bukit Makmur Internasional (BUMA International), it acquired the majority of Atlantic Carbon Group, Inc. (ACG) and became the leading producer of ultra-high-grade anthracite coal in the USA, further strengthening the Group’s global footprint in the mining industry.

In 2023, Delta Dunia Group expanded its portfolio with the addition of two new subsidiaries: PT Bukit Teknologi Digital (BTech), developing AI deep learning technologies to improve operational efficiency, reduce emissions, and minimize Occupational Health and Safety (OHS) operational risks and PT BISA Ruang Nuswantara (BIRU), a social enterprise dedicated to education, vocational schools, and fostering circular economy.

Listed on the Indonesia Stock Exchange (IDX Code: DOID), Delta Dunia Group is headquartered in Jakarta, Indonesia, and is supported by a workforce of over 16,000 employees across Indonesia, Australia, and the USA. In June 2024, Delta Dunia Group was recognized among the Top 200 in the inaugural FORTUNE Southeast Asia 500 rankings, a prestigious list that identifies the region’s largest companies by revenue.

Media OutReach

E3 Compression Latch with Visual Indicator Now Available in Zinc

Published

21 hours ago

05/12/2025

Media Outreach

HONG KONG SAR – Media OutReach Newswire – 5 December 2025 – Those prioritizing safety and security now have a cost-effective option. Southco’s E3 VISE ACTION® Compression Latch with Visual Indicator is now available in zinc. The latch features red, reflective indicator wings that can be easily viewed when open, allowing latch status to be monitored at all times. This offering further expands the line of MAKE SAFETY VISIBLE BY SOUTHCO™ products, which provide visual indication for increased safety and monitoring in a wide range of applications.

E3 COMPRESSION LATCH WITH VISUAL INDICATOR IN ZINC

Southco’s E3 VISE ACTION® Compression Latch with Visual Indicator displays latch open status that can be seen from a minimum of five meters, making it an ideal choice for rail, semiconductor and industrial machinery enclosures where an unsecured door or panel could impact safety during operation. By allowing operators to easily detect latch status, the E3 VISE ACTION® Compression Latch with Visual Indicator improves efficiency, enhances safety and reduces maintenance errors.

Global Product Manager Ike Teng adds, “The E3 VISE ACTION® Compression Latch with Visual Indicator provides visual feedback of whether a panel is fully closed, semi-closed or not secured at all. Like Southco’s standard E3 line, the indicator version delivers robust, vibration-resistant fastening and is available in a variety of grip lengths, providing a simple upgrade for enhancing enclosure safety and security.”

For more information about the functionality of E3 Compression Latches, please visit https://www.southco.com or email the 24/7 customer service department at [email protected]

Hashtag: #Southco #E3VISEACTION

The issuer is solely responsible for the content of this announcement.

About Southco

Southco, Inc. is the leading global designer and manufacturer of engineered access solutions. From quality and performance to aesthetics and ergonomics, we understand that first impressions are lasting impressions in product design. For over 70 years, Southco has helped the world’s most recognized brands create value for their customers with innovative access solutions designed to enhance the touch points of their products in transportation and industrial applications, medical equipment, data centers and more. With unrivalled engineering resources, innovative products and a dedicated global team, Southco delivers the broadest portfolio of premium access solutions available to equipment designers throughout the world.

Southco Asia Limited
2401, Tower 2, Ever Gain Plaza
88 Container Port Road, Kwai Chung

Hong Kong

Media OutReach

Global Qualifications Made Local: Leading Overseas Universities Partner with SIM

Published

22 hours ago

05/12/2025

Media Outreach

SINGAPORE – Media OutReach Newswire – 5 December 2025 – For students seeking an international education experience without relocating overseas, Singapore Institute of Management (SIM) offers a wealth of globally recognised degree options through partnerships with top universities around the world. These programmes deliver the same academic rigour and credentials as their home campuses, giving learners a competitive edge while remaining close to family and local opportunities.

University of London

The University of London (UoL) is one of the most established overseas degree providers in Singapore, having partnered with SIM Global Education (SIM GE) for more than 38 years.

Through this collaboration, students can pursue degrees in fields such as Business, Banking and Finance, Data Science, Economics, and International Relations. The programmes follow the same curricula and are examined by the same academic boards as those in the UK. SIM complements these with academic support, career services, a vibrant campus life and helping students gain a truly global education while staying rooted in Singapore.

University of Birmingham

The University of Birmingham, a member of the UK’s prestigious Russell Group of research-intensive universities, partners with SIM Global Education (SIM GE) to offer both undergraduate and postgraduate programmes in Singapore.

At the undergraduate level, the Bachelor of Science (Honours) Business Management (Top-up) equips students with analytical and strategic skills necessary for today’s competitive business environment.

For postgraduate learners, SIM GE offers the Master of Business Administration (MBA), designed for professionals seeking to strengthen their leadership, strategic management, and decision-making capabilities. The programme blends academic rigour with practical business applications, preparing graduates for senior management roles and global career opportunities.

University of Stirling

The University of Stirling at SIM offers globally recognised, research-led programmes designed to develop career-ready graduates. With flexible learning options, industry-relevant curriculum, and opportunities for global exposure, Stirling equips students with the skills and knowledge to thrive in today’s competitive job market.

University at Buffalo, The State University of New York

For students who prefer an American-style education, the University at Buffalo (UB) offers full U.S. degree programmes at SIM GE. Students can major in Communication, Psychology, or International Trade, earning a degree directly from UB – “a premier U.S. public university in Singapore … at a fraction of the cost” The UB programmes are taught by faculty approved by the home campus, maintaining the same academic standards and assessments as in New York.

University of Alberta

The University of Alberta holds a position among the top 4 universities in Canada and is internationally recognized as a leading post-secondary institution, ranking within the top 100 universities worldwide. Its steadfast dedication to excellence in research, teaching, and innovation spans over a century.

RMIT University

RMIT University, based in Melbourne, is another major Australian partner of SIM GE. Known for its industry-focused learning, RMIT’s programmes in Business Management, Marketing, and Logistics and Supply Chain Management are designed with employability in mind.

Students gain hands-on experience through case studies and project-based learning. The partnership allows Singapore students to graduate with the same Australian degree as those studying in Melbourne, often within two to three years.

University of Wollongong

The University of Wollongong (UOW), ranked among the world’s top 200 universities, partners exclusively with SIM Global Education in Singapore to offer IT, business information systems, cybersecurity, and data analytics programs taught by UOW faculty. Since 2005, over 3,000 UOW degrees have been awarded at SIM, with pathways for transfers to Australia and industry internships. Students enjoy access to SIM’s vibrant campus life, academic support, and opportunities for awards from agencies like CSIT and IMDA.

The University of Sydney

Over 3,500 of Singapore’s most talented health professionals have graduated with our nursing and health science related degrees, offered in partnership with SIM GE. The nursing programmes are developed, fully taught and awarded by The University of Sydney and accredited by the Singapore Nursing Board.

La Trobe University

La Trobe University is a public research university located in Melbourne, Australia. It was established in 1964 and is now the third university in the state of Victoria. The university is in the top five per cent of business schools worldwide to have earned an AACSB accreditation for delivering excellence in every aspect of the university’s work.

Monash College

Monash College is fully owned by Monash University, Australia’s largest university. The College is the preferred pathway to Monash University for international students. Through innovative programmes which align with the high standards of Monash University, we equip students for life at university, and beyond.

Grenoble Ecole de Management

Founded in Grenoble, Grenoble Ecole de Management (GEM) has greatly developed its expertise in the management of technology and innovation—an expertise that is now the foundation of the institution’s excellence and international renown. The school is accredited by AACSB, EQUIS and AMBA, and is a member of the French ‘Conférence des Grandes Ecoles’.

A Hub for Global Degrees

SIM Global Education offers over 140 full-time and part-time academic programmes from international universities partners.

Students here can earn world-class qualifications, gain exposure to diverse teaching approaches, and access global alumni networks all at lower cost and greater convenience than studying abroad.

As SIM GE highlights, its degrees are “globally recognised, with the same curricula and academic standards as those awarded onshore”

In an increasingly competitive world, these overseas degree options in Singapore offer the best of both worlds – international credentials with local advantage.

References:

University of London – Teaching Centre: Singapore – https://www.london.ac.uk/study/where-study/teaching-centre/singapore
SIM Global Education – University of London Programmes – https://www.sim.edu.sg/degrees-diplomas/sim-global-education/university-partners-sim-ge/university-…
SIM Global Education – RMIT University – https://www.sim.edu.sg/degrees-diplomas/sim-global-education/university-partners-sim-ge/rmit-univer…
SIM Global Education – University at Buffalo – https://www.sim.edu.sg/degrees-diplomas/sim-global-education/university-partners-sim-ge/university-…
SIM Global Education – University of Alberta – https://www.sim.edu.sg/degrees-diplomas/sim-global-education/university-partners-sim-ge/university-…
SIM Global Education – University of Birmingham – https://www.sim.edu.sg/degrees-diplomas/sim-global-education/university-partners-sim-ge/university-…
SIM Global Education – University of Wollongong – https://www.sim.edu.sg/degrees-diplomas/sim-global-education/university-partners-sim-ge/university-…
SIM Global Education – The University of Sydney – https://www.sim.edu.sg/degrees-diplomas/sim-global-education/university-partners-sim-ge/the-univers…
SIM Global Education – La Trobe University – https://www.sim.edu.sg/degrees-diplomas/sim-global-education/university-partners-sim-ge/la-trobe-un…
SIM Global Education – Grenoble Ecole de Management – https://www.sim.edu.sg/degrees-diplomas/sim-global-education/university-partners-sim-ge/grenoble-ec…
SIM Global Education – Monash College – https://www.sim.edu.sg/degrees-diplomas/sim-global-education/university-partners-sim-ge/monash-coll…
SIM Global Education – University of Stirling – https://www.sim.edu.sg/degrees-diplomas/sim-global-education/university-partners-sim-ge/university-…
SIM Global Education – Overview of Degree and Diploma Programmes – https://www.sim.edu.sg/degrees-diplomas/overview
SIM Global Education – University Partner Page – https://www.sim.edu.sg/degrees-diplomas/sim-global-education/university-partners-sim-ge

Hashtag: #SIMGlobalEducation #SIMGE #CareerReady #FutureSkills #HigherEducation #GlobalDegrees

https://www.sim.edu.sg

The issuer is solely responsible for the content of this announcement.

About SIM Global Education

SIM Global Education (SIM GE) is a leading private education institution in Singapore and the region. We offer more than 140 academic programmes ranging from diplomas and graduate diploma programmes to bachelor’s and master’s degree programmes with some of the world’s most reputable universities from Australia, Canada, Europe, United Kingdom, and the United States. SIM GE’s cohort is made up of 16,000 full- and part-time students and adult learners, of which approximately 36% are international students hailing from over 50 countries.

SIM GE’s holistic learning approach and culturally diverse learning environment aim to equip students with knowledge, industry skills and employability competencies, as well as a global perspective to succeed as future leaders in a fast-changing, technologically driven world.

For more information on SIM Global Education, visit sim.edu.sg

Media OutReach

Yunnan Showcases Top 10 Must-try Experiences at Trip.Best: Southeast Asia Travel Trends Unpacked

Published

1 day ago

04/12/2025

Media Outreach

SHANGHAI, CHINA – Media OutReach Newswire – 4 December 2025 – On December 2, 2025, Yunnan Province, as an emerging destination in China among Southeast Asia travellers, was invited to deliver a special presentation to highlight its rich cultural tourism resources, at the Trip.Best: Southeast Asia Travel Trends Unpacked Event at Resorts World Sentosa, Singapore, hosted by Trip.com.

The event gathered representatives from the Singapore Tourism Board, Trip.com, leading travel agencies from Southeast Asia, international mainstream media, travel influencers, and industry experts. Trip.com business leaders shared data-driven insights into evolving travel consumption patterns in this region, covering entry and exit, accommodation, attractions, and dining trends, before revealing the highly anticipated Trip.Best Southeast Asia Travel Rankings.

Yunnan’s presentation on its “Top 10 Must-try Experiences,” took the audience on an immersive journey from the Yuanyang Rice Terraces and Xishuangbanna Rainforest to the Shangri-La Snow Mountain. These tours integrate intangible cultural heritage, ethnic cuisine, and artisanal crafts, creating authentic experiences for global travelers. Complementing the presentation, an outdoor Yunnan lifestyle experience zone was set up, where guests could savor Yunnan specialties, admire Yi embroidery, and capture memorable moments in traditional ethnic attire.

Yunnan also emphasized its traveler-friendly policies, including the 240-hour visa-free transit for international visitors in nine popular tourist destinations, including Kunming, Lijiang, Dali, and Xishuangbanna, and tax refund benefits for overseas shoppers. Enhanced connectivity through Yunnan’s expanding “air corridor” has significantly boosted passenger traffic between Yunnan and South and Southeast Asia. Kunming Changshui International Airport now offers flights to 37 international destinations, with 32 routes linking directly to South and Southeast Asia.

By leveraging Trip.Best‘s global travel rankings and experiential marketing strategies, Yunnan further solidified its brand presence as an international tourist destination, paving the way for deeper collaboration in Southeast Asia’s tourism market.

Hashtag: #Trip.Best

The issuer is solely responsible for the content of this announcement.