Aug 5, 2010

Bayan 1H coal output 5.7 mio tons

Publicly listed coal mining company PT Bayan Resources Tbk (BYAN) today reports a 21% increase in the first half's revenue this year.
In update presentation material submitted to Indonesia Stock Exchange today, the company also announces a steep jump in earning before interest, tax, depresiation, and amortization (EBITDA) by 59% on higher revenue.
Bayan posted US$412.2 million of revenue in the first half this year from a year earlier of US$342.1 million, while the first half's EBITDA this year reached US$57.1 million from the same period last year of US$36 million. 
As of June 2010, Bayan recorded 5.7 million metric tons of coal sales volume and 5.6 million metric tons of coal production.
Average selling price of Bayan's coal in the first and second quarter this reached US$71.8 per ton and US$72 per ton respectively.
The company aims to spend US$50 million-US$60 million of capital expenditure this year, while it spent US$8 million in the first half this year. Bayan stocks slightly increased 0,62% to Rp7,950 per share.

Disclosure: No position at the stock mentioned above.

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