Quarterly
Report

The Group’s consolidated net revenue in the FY 2024 was Rp134.4 trillion, 5% higher year on year. The revenue was mainly derived from:

• Rp58.0 trillion in Mining Contracting, 8% higher
• Rp37.3 trillion in Construction Machinery, 2% higher
• Rp26.0 trillion in Thermal and Metallurgical Coal Mining, 15% lower
• Rp9.9 trillion in Gold and Other Mineral Mining, 90% higher. In the fourth quarter of 2023, the Group entered nickel business and was in the process of developing the asset.

Net income was Rp19.5 trillion, 5% lower due to lower gross profit mainly from thermal and metallurgical coal mining business and increased interest expense.

Highlights for Group operational performance in the FY 2024:

• Overburden removal increased by 5% and client’s coal production increased by 15%
• Total thermal and metallurgical coal sales increased by 11%
• Total gold sales equivalent increased by 32%
• Komatsu sales decreased by 16%
• Stargate recorded 1,975 thousand wmt of nickel ore sales