2018, Samindo Shows Revenue US $ 255 Million

PT Samindo Resources Tbk (MYOH) aims to increase its consolidated revenue to US $ 255 million this year, compared to 2017 reached US $ 188.1 million. Expectations of the increase will be supported by the increase of coal mining contracts handled by the company.

 The company's revenue from coal mining services is targeted to grow around 36 percent this year, compared to last year.

 "The increase in coal mining volume targeted by clients will be the main factor driving the company's revenue growth in 2018," said Investor Relations Manager Samindo Ahmad Zaky Natsir in a press release received by Investor Daily in Jakarta on Wednesday (21/3).

As in the agreement signed by the company with PT Kideco Jaya Agung, all of Kideco's subsidiary coal mining will be handled by Samindo starting this year. The company is responsible for providing four services for Kideco, overburden removal, coal getting, coal hauling, and exploration drilling.

The addition of the company's work contracts, according to him, indicates an opportunity to increase the revenue of all business segments of the company in 2018. Positive performance boosts are also expected to come from coal mining contracts from the Bayan group. At the Bayan group mine, the company has started mining since mid-2017.

According to him, Bayan charged a doubling for coal stripping volume this year, compared to last year's 51.5 million bcm actual result.

"We see 2018 to be a turning point, after two years the client withholds the production level. All clients have set the increase in coal production volume this year, "he said.

In addition to support for growth in land transfer contracts and coal production, he explained, the company will get a positive contribution from the outlook for better coal sale price this year. The indication is seen from the stable price of coal throughout 2017 and is predicted to continue until this year.