PT Dian Swastatika Sentosa (DSSA) Q2 2024 earnings summary

Executive summary

• Interim consolidated financial statements for the six months ended June 30, 2024, were audited and received an unqualified opinion, confirming fair presentation in accordance with Indonesian Financial Accounting Standards.

• The Group operates in power generation, coal mining and trading, multimedia, and infrastructure, with a diversified business model.

• Major transactions included the sale of power assets and new bond and sukuk issuances to support business expansion.

Financial highlights

• Revenues for the six months ended June 30, 2024, were US$1.52 billion, down from US$3.19 billion in the same period last year.

• Net profit for the period was US$346.7 million, a decrease from US$653.5 million year-over-year.

• Gross profit margin improved to 45.4% from 45.0% year-over-year.

• Total assets as of June 30, 2024, were US$3.09 billion, up from US$3.06 billion at December 31, 2023.

• Cash and cash equivalents increased to US$865.1 million from US$617.3 million at year-end 2023.

Outlook and guidance

• Proceeds from new bonds and sukuk are allocated for internet service expansion and general corporate purposes.

• The Group continues to monitor regulatory changes in mining and expects no significant near-term operational impact.