Bumi Resources Minerals (BRMS) Q2 2026 earnings summary

Executive summary

• First half 2026 saw increased coal production and sales, driven by operational efficiencies at Arutmin and favorable weather, while another group reported revenue of USD95.8 million, down from USD120.8 million year-over-year.

• Profit for the period rose 87% to $72.3 million in one group, while another reported net profit of USD13.3 million, a decrease from USD22.3 million.

• Diversification efforts advanced, with initial gold and copper production at Wolfram mine in Australia and strategic initiatives to expand gold production and exploration at key subsidiaries.

• The group remains in a deficit position of USD697.5 million as of June 30, 2026.

Financial highlights

• Revenue increased 28% year-over-year in one group, while another saw revenue decline to USD95.8 million from USD120.8 million.

• Profit for the period rose 87% to $72.3 million in one group, while another reported net profit of USD13.3 million.

• EBITDA grew 39% year-over-year in one group, while another reported gross profit of USD55.4 million, down from USD72.2 million.

• Total assets increased by $300 million in one group and to USD1.41 billion from USD1.31 billion in another.

• Cash balance as of June 30, 2026, was $376.9 million in one group and USD32.1 million in another.

Outlook and guidance

• Full-year coal sales guidance maintained at 82–84 million tons, with 25% allocated to domestic sales.

• Gold and copper production at Wolfram projected at 10,000–15,000 tons copper equivalent by year-end.

• CPM aims to optimize ore reserve exploration at Poboya for a planned 10,000 TPD plant, with underground mining targeted for Q1 2027.

• LMR is awaiting a production operation license to enable construction of a 2,000 TPD plant.