• Despite significant challenges posed by extreme weather conditions in Indonesia and Australia, Delta Dunia Group reported a stable revenue of USD 1.35 billion during 9M 2024.
  
• EBITDA for 9M 2024 declined by 16% YoY to USD 252.3 million, impacted by weather-related production declines and planned investments.
  
• Net loss significantly improved to USD 17.4 million, down from USD 26.6 million reported in 1H 2024, despite a 20% increase in finance costs and forward-looking investments. A strengthening currency, stable SOFR rates, and ACG’s results – denominated in USD – supported this improvement.
  
• Capex increased by 79% YoY to USD 133.1 million, focused on supporting existing site ramp-up and Repair and Maintenance costs. The Group remains on track to meet its full-year capex guidance of USD 150 million to USD 190 million.
  
• Operating cash flow increased by 2% YoY to USD 232 million, driven by effective working capital management. The Group’s free cash flow was impacted by strategic investments in ACG and contract-linked Capex.
  
• Net Debt to EBITDA maintained at a healthy 2.17x as of September 2024, with acquisitions like ACG expected to improve the ratio.
  
• The Group strengthened its operational footprint with significant contracts, including an 11-year, USD 7.8 billion agreement with PT Indonesia Pratama (a Bayan Group subsidiary), a two-year extension at Australia’s Meandu Mine with TEC Coal Pty Ltd, valued at AUD 200 million annually, and a new USD 755 million Life-of-Mine contract with PT Persada Kapuas Prima in Central Kalimantan. These contracts have effectively tripled the Group’s order book to over USD 12.7 billion.
  
• The Group also marked pivotal milestones through the transformative acquisitions of ACG, the binding agreement to acquire 51% stakes in the Dawson Complex [1], one of Australia’s largest metallurgical coal mines, and increased investments in 29Metals, an ASX-listed copper-focused base and precious metals mining company.
  
• Non-thermal coal revenue is projected to reach 28% by the end of 2024, up from 26% in 9M 2024, aligning with the Group’s strategy to reduce reliance on thermal coal and transition towards a more diversified portfolio.
  

JAKARTA, INDONESIA – Media OutReach Newswire – 20 December 2024 – PT Delta Dunia Makmur Tbk (“Delta Dunia Group” or “the Group”, IDX: DOID) announced stable results for the first nine months of 2024 (“9M 2024”), forging ahead on its path to sustainable growth in key global markets, demonstrating resilience in its operations and financial performance despite extreme weather conditions and operational challenges. The Group is making significant strides in strengthening its core business and laying a solid foundation for future growth through strategic acquisitions and investments.

In 9M 2024, the Group maintained stable revenue of USD 1.35 billion, compared to USD 1.36 billion year-on-year (“YoY”), despite operational disruptions caused by increased rainfall in Indonesia and Australia, which rose by 38% and 53%, respectively. The effective recovery-after-rain initiative limited the decline in overburden (OB) removal to just 9% YoY, while coal production increased by 3%, demonstrating the effectiveness of its mitigation strategies and operational resilience. The Group’s EBITDA declined by 16.4% YoY to USD 252.3 million, impacted by these extreme conditions and planned investments aimed at enhancing the Group’s long-term production capacity.

The strengthening of the Indonesian Rupiah (IDR) and Australian Dollar (AUD) against the US Dollar (USD), along with a stable Secured Overnight Financing Rate (SOFR), has enabled the Group to manage financial pressures more effectively. In 9M 2024, the Group experienced a 20% YoY increase in finance costs due to forward-looking growth investments, leading to a net loss of USD 17.4 million – a significant improvement from the USD 26.6 million net loss reported in the first half of 2024. It’s important to note that this loss is primarily attributed to proactive measures taken to strengthen the Group’s financial foundation, including early debt repayment and bond buybacks. These actions, while impacting short-term results, are expected to reduce interest expenses and enhance financial flexibility over the long term.

Iwan Fuad Salim, Director at Delta Dunia Group, stated, “9M 2024 marked another pivotal phase in our transformation journey, underscored by major milestones solidifying our path toward sustained growth. Our rigorous focus on operational excellence, geographic expansion, commodity diversification, and sustainability positions us robustly in the global mining landscape. Through strategic acquisitions, significant contract wins, and our further diversification toward non-thermal coal and base metals, we are building a diversified, future-ready business that delivers enduring value for all stakeholders.”

Strategic Investments and Important Contracts Fuel Long-Term Growth

The Group has achieved significant milestones that substantially enhanced its future growth. Key developments include an 11-year, USD 7.8 billion contract extension with PT Indonesia Pratama (IPR), a Bayan Group subsidiary, and a two-year, AUD 200 million annual extension for Australia’s Meandu Mine with TEC Coal Pty Ltd. Additionally, a new USD 755 million Life-of-Mine contract with PT Persada Kapuas Prima (PKP) in Central Kalimantan. These agreements not only spread-out risks but also strengthened the Group’s portfolio’s geographic spread, effectively tripling the Group’s order book to over USD 12.7 billion, reinforcing customer confidence in the Group’s operational capabilities and commitment to long-term partnerships.

The Group also took significant steps to solidify its foundation for sustainable growth through strategic acquisitions. The acquisition of a majority stake in Atlantic Carbon Group, Inc. (“ACG”) marks its entry into the US market, expanding its business into mine ownership. ACG’s financial and performance results, denominated in USD and thereby insulated from foreign exchange risks and currency fluctuations, have been consolidated into the Group’s Q3 2024 results. With the inclusion of ACG’s ultra-high-grade anthracite, non-thermal coal now accounts for 26% of the Group’s revenue, reducing the proportion derived from thermal coal, which currently stands at 74%. Non-thermal coal revenue is projected to reach 28% by the end of 2024.

Moreover, to strengthen its presence as a mine owner, the Group has further entered a binding agreement to acquire a 51% stake in the Dawson Complex, one of Australia’s largest metallurgical coal mines. This high-capacity operation features an annual production capacity of more than 8 million bcm, over 20 years of reserves, and a resource life of 50 years, with a Coal Handling and Preparation Plant (CHPP) capacity surpassing 12 million tons per annum. The Dawson Complex, operational for over 60 years, has fostered strong relationships with key Asian markets, including India and Japan. The Group has also increased its stake in 29Metals Limited, an Australian copper-focused base and precious metals mining company, to advance its diversification into base and precious metals, further reducing its reliance on thermal coal.

Focusing on strategic expansion and diversification, the Group’s capital expenditures reached USD 133.1 million in Q3 2024, marking a 79% increase YoY. These investments enhance operational efficiency and facilitate growth through expansions at existing sites, alongside Repair and Maintenance (R&M) costs that ensure the longevity and efficiency of the Group’s assets, in line with its full-year Capex guidance of USD 150 million to USD 190 million. Simultaneously, improved working capital management led to a 2% increase in operating cash flow, reaching approximately USD 232 million. Free cash flow (FCF) was recorded at USD 80.2 million. However, post-acquisition FCF decreased to USD -35.6 million due to strategic investments, particularly in ACG and contract-linked Capex. These investments represent the Group’s commitment to growth and building a lasting legacy.

Financial Strength and Commitment to Shareholder Value

The Group remains committed to enhancing shareholder value while sustaining a strong financial position through prudent financial management, strategically aligning debt maturity with the lifespan of its operational equipment. As of September 2024, the Group marks a healthy Net Debt/EBITDA ratio of 2.17x. Recent acquisitions, including ACG, are expected to drive improved performance and further strengthen this ratio as ACG’s EBITDA is fully integrated.

The successful issuance of BUMA II 2024 Rupiah Bonds in September 2024, which was 1.4x oversubscribed, demonstrates robust investor demand and confidence in BUMA’s cash flow management and credit profile. This bond issuance has enabled BUMA to secure greater investor commitments for longer-term tenors, significantly enhancing its ability to manage its debt maturity profile effectively.

“We are dedicated to maintaining solid financial management, especially in upholding strong credit metrics and reinforcing our strong presence in the mining sectors in Indonesia, Australia, and the US. The financing strategy we have implemented strengthens our financial foundation and enables us to grow our business, cementing our reputation as a globally diversified mining company,” Iwan concluded.

[1] Subject to Peabody’s acquisition of Dawson, certain pre-emptive rights, consents, and regulatory approvals
Hashtag: #DeltaDuniaGroup

The issuer is solely responsible for the content of this announcement.

About PT Delta Dunia Makmur Tbk (Delta Dunia Group):

Established in 1990, PT Delta Dunia Makmur Tbk (Delta Dunia Group) is a prominent holding company operating in Indonesia, Australia, and the USA. Our principal subsidiary, PT Bukit Makmur Mandiri Utama (BUMA), is a leading provider of mining services to some of the largest miners in Indonesia and Australia (through BUMA Australia Pty Ltd). In June 2024, through PT Bukit Makmur Internasional (BUMA International), it acquired the majority of Atlantic Carbon Group, Inc. (ACG) and became the leading producer of ultra-high-grade anthracite coal in the USA, further strengthening the Group’s global footprint in the mining industry.

In 2023, Delta Dunia Group expanded its portfolio with the addition of two new subsidiaries: PT Bukit Teknologi Digital (BTech), developing AI deep learning technologies to improve operational efficiency, reduce emissions, and minimize Occupational Health and Safety (OHS) operational risks and PT BISA Ruang Nuswantara (BIRU), a social enterprise dedicated to education, vocational schools, and fostering circular economy.

Listed on the Indonesia Stock Exchange (IDX Code: DOID), Delta Dunia Group is headquartered in Jakarta, Indonesia, and is supported by a workforce of over 16,000 employees across Indonesia, Australia, and the USA. In June 2024, Delta Dunia Group was recognized among the Top 200 in the inaugural FORTUNE Southeast Asia 500 rankings, a prestigious list that identifies the region’s largest companies by revenue.

The launch event takes place on December 28, 2024, at IDC School, Old Ife Road, New Gbagi, Ibadan, starting at 10 AM. Members of the public are encouraged to bring their plastic bottles in exchange for vouchers, food items, gifts, or cash rewards. The more kilograms of plastic attendees bring, the more tangible rewards from 1win they will receive.

The event promises to be engaging and fun, with activities including games and entertainment for participants of all ages, exclusive 1win merchandise giveaways, and appearances by renowned Nigerian personalities

Social media influencers Moyin and Doyin Oladimeji (known as @Twinz_Love) and famous Nigerian actor and producer Femi Adebayo will appear on the day to lend their voices to the campaign and inspire community participation.

The PWE project addresses the issue of plastic waste in Ibadan and surrounding areas. Citizens are encouraged to recycle PET bottles by bringing them to 1win-branded PWE stations. With an ambitious goal to collect 5,000 kilograms of plastic waste, 1win and Recycledge aim to send it to recycling sites and prevent plastics from polluting landfills, waterways, and natural habitats in Nigeria.

Following the launch event, 1win-facilitated plastic receptacle stations can be found across Ibadan in the following locations: Ilaji Hotel and Resorts, Hybrid Heights, Agodi Parks and Gardens, and IDC School (New Gbagi).

For more details about the PWE project and event updates, visit www.1win.charity.
Hashtag: #1win #1recycle1win #CSR #recycling

https://www.1win.charity/
https://www.instagram.com/1win.global/

The issuer is solely responsible for the content of this announcement.

About 1win

1win is a leading iGaming brand that offers an unparalleled range of services and is licensed in Nigeria. With a solid seven-year track record, the brand caters to a diverse clientele across the globe, illustrating its strong influence in the iGaming sector. Effective August 2024, 1win has cricketer David Warner as its sports ambassador.

About Recycledge

Recycledge is a Nigerian non-profit organization committed to sustainable waste management solutions, with a focus on plastic waste reduction and recycling education.

In a showcase, Her Royal Highness Princess Ubolratana Rajakanya Sirivadhana Barnavadi, alongside internationally acclaimed chef Wolfgang Puck, crafted signature Thai dishes such as crispy noodles and chicken massaman curry. This collaboration gained international exposure through media outlets, including the Los Angeles Times, ABC7’s Eyewitness News, and various social media platforms.

The initiative also featured the Sa Wad Dee Thai SELECT Festival, to present delectable dishes from seven leading Thai restaurants. The event also served as a platform for awarding Thai SELECT certificates to 14 qualified Thai food establishments. With participation from over 200 local media representatives and influencers, the festival generated over 535 media posts, significantly increasing the visibility of Thai cuisine among American consumers while strengthening ties with local Thai restaurants.

The Thai SELECT logo will be a gateway for Thai restaurants and products to gain global recognition for exceptional food and service quality. Currently, 1,664 Thai SELECT-certified restaurants operate internationally out of 18,852 Thai restaurants worldwide. The United States leads with 445 Thai food establishments.

Next year, Thai SELECT plans to collaborate with global influencers who have over 10 million followers altogether to promote Thai cuisine as a cultural soft power, aligning with the Thai government policies. The ambition is to elevate the Thai SELECT certification to Michelin-star-level prestige by increasing the number of certified restaurants and products and refining selection criteria to uphold the highest standards of quality and authenticity.

This collaborative effort represents a significant milestone in promoting Thai cuisine on the world stage, creating new opportunities for Thai entrepreneurs in the food industry. By establishing Thai SELECT as a trusted symbol of Thai culinary excellence, the initiative is expected to boost economic value for Thai businesses while strengthening the Thai identities and brands.

Hashtag: #ThaiSELECT

The issuer is solely responsible for the content of this announcement.

Employers in the ICT and Creative Media Industries Place Greater Emphasis on Soft Skills; Growing Recognition for Higher Diploma Graduates’ Competencies

HONG KONG SAR – Media OutReach Newswire – 20 December 2024 – Led by Hong Kong Baptist University (HKBU) and funded by The Hong Kong Jockey Club Charities Trust, the Jockey Club Multiple Pathways Initiative – CLAP-TECH Pathway (CLAP-TECH) has conducted its second annual survey, exploring the talent demands of the Information and Communications Technology (ICT) and Creative Media industries. The survey delved into aspects including starting salaries, hiring process duration, in-demand positions and overall talent supply. It aims to provide insights into employer expectations regarding the skills of fresh graduates with higher diplomas or university degrees, while providing valuable reference for students and industries.

This year’s survey results indicate a growing recognition among employers in both industries of the capabilities of higher diploma graduates. In the age of artificial intelligence, employers are placing greater emphasis on soft skills and acknowledging the role of Vocational and Professional Education and Training (VPET) in cultivating talent with market-relevant expertise.

Starting salaries for higher diploma and university degree fresh graduates remain between HKD 17,000 and HKD 23,000
Employers’ recognition of higher diploma graduates improves compared to last year

According to the survey, approximately 60% of employers believed that higher diploma graduates possess soft and hard skills comparable to, or even stronger than, those of university degree graduates. Employers’ recognition of the soft and hard skills of higher diploma graduates has increased by 8.8 and 17.1 percentage points respectively, compared to last year.

This growing acknowledgment is evident in graduates’ starting salaries. In the Creative Media industry, most higher diploma graduates (77.2%) and university degree fresh graduates (66.8%) receive a starting salary of HKD 17,000 to HKD 23,000. Notably, the proportion of higher diploma graduates with starting salaries between HKD 20,000 and HKD 23,000 has risen by 9.7 percentage points compared to last year. In the ICT industry, the majority of higher diploma graduates (68%) fit within the HKD 17,000 to HKD 23,000 starting salary range, mirroring last year’s findings (64.7%), while over half (56.4%) of university degree fresh graduates are in the same salary bracket this year.

Regarding hiring process duration and salary increments, employers in the ICT and Creative Media sectors reported an average time of nearly three months to fill suitable vacancies, with 8.8% of ICT employers indicating that some positions may take more than six months to fill. Some 70% of responding employers expect salary increments for higher diploma and university degree fresh graduates in 2025 to be between 2% and 5.9%, aligning with market expectations.

Andrew Ho, Director of the Jockey Club Multiple Pathways Initiative – CLAP-TECH Centre, said: “We are pleased to see a significant annual increase in employers’ recognition of higher diploma graduates’ soft and hard skills. Starting salaries for higher diploma graduates have also increased this year, particularly in the Creative Media sector. This reflects a growing market demand for quality graduate talent and demonstrates that higher diploma graduates with the right skills and qualifications are becoming increasingly competitive in the job market.”

Academic achievements are a lesser priority, with soft skills gaining greater competitiveness in the age of AI

As artificial intelligence (AI) continues to reshape education and the workplace, the survey revealed that over half (54.6%) of the surveyed employers have fully or partially integrated advanced technologies like AI and generative AI into their daily operations, while over one-third (37.4%) are considering such integration. However, as businesses increasingly adopt these technologies, employers prioritise soft skills such as “curiosity and lifelong learning”, “analytical thinking”, and “resilience, flexibility, and agility”. These skills are deemed more important than the knowledge and skills of AI and big data, which ranks fifth in importance in the next five to ten years.

During job interviews, employers have shifted their focus from candidates’ internships or practical experience to demonstrating soft skills such as communication (81.7%), problem-solving abilities (81.5%) and leadership potential (57.1%). Remarkably, the proportion of employers in the ICT and creative media sectors who value leadership potential surged, nearly doubling and increasing by over 1.7 times respectively compared to the previous year. More than 24.2% of employers in the ICT industry and 17.2% in the Creative Media industry believe that current candidates lack these skills, while academic performance and credentials are considered a lesser priority.

Employers in the Creative Media industry indicate that in the next five to ten years, talent will need to acquire “creative thinking” and “technological literacy” along with skills related to “artificial intelligence and big data”. Patrick Tam, Principal Advisor at 3 Screens Strategic Advisors Limited, an industry partner of the Jockey Club Multiple Pathways Initiative – CLAP-TECH Pathway, stated: “In today’s fast-evolving digital landscape, employers are increasingly in need of team members who possess a balanced blend of soft and hard skills. While proficiency in industry-specific skills is crucial, we also value employees who exhibit a strong sense of curiosity and a commitment to lifelong learning. As artificial intelligence becomes more prevalent in our daily workflow, it is imperative that our workforce applies their analytical skills, problem-solving abilities, and judgement to ensure the responsible implementation of AI technologies. The qualities of resilience, flexibility and agility will render employees indispensable in today’s dynamic work environment.”

Andrew Ho, Director of the Jockey Club Multiple Pathways Initiative – CLAP-TECH Centre, said: “To ensure that the CLAP-TECH curriculum aligns with industry needs, we engaged with industry partners early on to gain insights into emerging career trends and the essential role of both soft and hard skills. Through a tripartite partnership among HKBU, industry partners and secondary schools, we are dedicated to nurturing talents equipped with the skills necessary for the future workforce. The findings of this survey validate our vision: industry participation is key for talent development, and the significance of soft skills must not be overlooked in today’s rapidly evolving technology landscape.”

Over 90% of employers agree that vocational education produces more graduates with in-demand skills

The HKSAR Government rebranded vocational education and training in Hong Kong as Vocational and Professional Education and Training (VPET) in 2016, establishing a diverse range of teaching models and pathways for further education. The survey shows that over 90% of respondents believe VPET helps enhance the soft and hard skills, work attitudes and daily competencies of higher diploma graduates, thereby enriching the talent pool. Some 30% of the respondents stated that VPET can “significantly improve” practical skills.

Andrew Ho, Director of the Jockey Club Multiple Pathways Initiative – CLAP-TECH Centre, said: “Our survey results indicate a greater awareness among respondents regarding initiatives such as Universities of Applied Sciences (UAS), Industrial Attachment, and Career and Life Planning Grant. However, there remains a general lack of understanding regarding VPET. This highlights the need for the government to enhance VPET and its promotion to both employers and the public, emphasising its critical role in talent development and skills enhancement. This commitment will empower every talented young individual to chart their career paths, fully leverage their strengths and meet the future demands for various professional skills.”

Funded by The Hong Kong Jockey Club Charities Trust, the Jockey Club Multiple Pathways Initiative – CLAP-TECH Pathway (CLAP-TECH) commissioned a market research company to conduct its second annual online survey in October this year, interviewing a total of 500 local employers who had been involved in the recruitment process in the Information and Communications Technology (ICT) and/ or Creative Media industries in the past 12 months. Over 60% of the respondents frequently hire employees (every few months or multiple times per month) and have final decision-making authority or influence in the recruitment process.

Hashtag: #claptechpathway

The issuer is solely responsible for the content of this announcement.

Jockey Club Multiple Pathways Initiative – CLAP-TECH Pathway

Launched in 2020 and funded by The Hong Kong Jockey Club Charities Trust, Jockey Club Multiple Pathways Initiative – CLAP-TECH Pathway (CLAP-TECH) is Hong Kong’s first through-train Vocational and Professional Education and Training (VPET) pathway in mainstream senior secondary and post-secondary education. CLAP-TECH is a tripartite partnership among Hong Kong Baptist University, industry partners, and secondary schools. It currently consists of two Applied Learning Courses (i.e. Tech Basics and Multimedia Storytelling) and Higher Diplomas in Data Science and Art Tech Design. The programme equips students with technical and soft skills for the future workforce by incorporating career and life development in the curriculum. Since its establishment, over 40 industry partners have been involved in the programme, guiding and inspiring over 1,000 students from 100 secondary schools. For more details, please visit: https://www.claptech.hk/en/