BUMA International (DOID) Records IDR 5.4 Trillion Revenue in Q1 2026
Mon 01 Jun 2026, 18:53 PM
Share
PT BUMA International Group Tbk. (DOID) recorded revenue of USD 318 million, equivalent to IDR 5.4 trillion, in the first quarter of 2026 (based on the Jisdor exchange rate of IDR 16,999 per US dollar as of March 31, 2026).
In its official statement, BUMA management explained that the company posted revenue of USD 318 million, down 10% year-on-year (YoY), in line with a smaller active portfolio.
The Average Selling Price (ASP) of its mining contractor business increased 3% YoY, supported by a higher proportion of rise-and-fall contracts as well as tiered tariff increases linked to coal prices.
Meanwhile, EBITDA surged 98% YoY to USD 28 million from USD 14 million in the first quarter of 2025, with the EBITDA margin improving to 11% from 5% in the same period last year.
DOID also recorded a net loss of USD 24 million, equivalent to IDR 407.97 billion, compared to a net loss of USD 70 million in the first quarter of 2025.
Management stated that the 66% YoY improvement reflected EBITDA recovery along with three supporting non-operational factors: a USD 12 million gain from the ongoing optimization of the ACG portfolio through land asset sales, a USD 12 million reduction in investment losses from 29Metals, and the absence of a USD 4 million receivables provision in Australia that had been recorded in the first quarter of 2025.
BUMA International Group Director Iwan Fuad Salim said the first quarter of 2026 demonstrated that the recovery initiated throughout 2025 continued despite the seasonally challenging quarter.
“EBITDA nearly doubled year-on-year despite lower revenue, supported by stronger cost discipline and improved productivity,” said Iwan.
He also noted that operational discipline and EBITDA improvements remained intact through the peak rainy season in February, providing DOID with a stronger foundation for the rest of the year.
“The foundation has been established, and our focus going forward is solid execution as we enter the drier operational quarters,” he added.
DOID also recorded capital expenditure of USD 20 million, allocated to maintaining fleet reliability and operational sustainability.
Meanwhile, free cash flow turned positive at USD 2 million, compared to negative USD 19 million in the first quarter of 2025. The improvement was mainly driven by USD 17 million in proceeds from land sales under the ACG portfolio optimization framework, supported by EBITDA recovery and significantly lower capital expenditure.
Operationally, overburden removal volume declined 12% YoY to 89 million bank cubic meters (MBCM), while coal production fell 20% YoY to 15 million tons (MT).
The decline in volumes primarily reflected the completion of contracts at the Binungan site in Indonesia and the Burton site in Australia, as well as ramp-down activities at two Indonesian sites during 2025.
Advertisement
