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Tuesday, 12 May 09
BANPU'S PROFIT DOUBLES TO RECORD AFTER SALES JUMP - BLOOMBERG
 BANPU Pcl, Thailand’s biggest coal producer, reported first-quarter profit more than doubled to a record after higher prices for the fuel boosted sales.
Net income in the three months ended March 31 climbed to 4.8 billion baht ($139 million), or 17.65 baht a share, from 2.07 billion baht, or 7.63 baht a share, a year earlier, the company said today in a filing to the stock exchange. That exceeded the 3.38 billion-baht median profit estimate of 13 analysts surveyed by Bloomberg.
Bangkok-based Banpu, which has mines in China, Indonesia and Thailand, benefited from locking in contracts as prices surged to a record in July.
“Banpu is one of the few companies with solid earnings growth in 2009,” said Avin Sony, an analyst at ABN Amro Securities Co. in Bangkok. “Coal prices are also expected to be robust in the second quarter.”
Banpu’s shares gained as much as 2.3 percent to 318 baht and traded at 316 baht as of 10:14 a.m. local time, heading for its highest close since Sept. 26.
Sales rose 58 percent to 13.6 billion baht, according to Banpu’s statement. Coal shipments dropped 10 percent to 4.08 million metric tons in the quarter as the company closed a port in Indonesia for a week in February for maintenance, it said in separate statement.
Fuel Costs
The company’s average selling price of coal in the period surged 71 percent from a year earlier to $84.23 a ton as it signed forward contracts and increased the proportion of high- quality coal, it said.
Spot prices at Newcastle port in Australia, a benchmark for Asia, touched a record $194.79 a metric ton in July. The weekly price index gained 2.3 percent to $63.70 a ton last week, according to the globalCOAL NEWC index. Banpu gets almost all its coal from Indonesia, where it acquired its first mine in 1997.
The gross profit margin from its coal business widened to 55 percent in the first quarter from 37 percent in the same period last year on higher selling prices and lower fuel costs, the company said. The average diesel price was at 44 U.S. cents in the quarter, 52 percent lower than a year earlier, it said.
The profit increase was achieved by locking in contracts “when coal prices in the world were soaring,” Chief Executive Officer Chanin Vongkusolkit said in an e-mailed statement today. “The production cost at Indonesian coal mines also decreased due to lower diesel prices.”
Coal Swap
The company also booked a gain of 793.6 million baht from “the settlement of coal swap contracts” in the quarter, compared with a loss of 142 million baht from transactions in the same period last year, it said.
Coal sales in 2009 may rise 13 percent from the previous year to 20.5 million tons, Chanin said today, reiterating the forecast he made March 6. About 57 percent of the output this year was sold in advance at an average price of about $72 a ton, little changed from 2008, according to his statement in March.
The profit contribution from units in the first quarter climbed 34 percent to 2.06 billion baht, boosted by its coal business in China, the company said.
Banpu paid $420 million last June to buy the shares it didn’t already own in Asian American Coal Inc., which holds a 56 percent stake in China’s Shanxi Asian American-Daning Energy Co. Shanxi Asian has operated a mine in Shanxi province since 2006 under a 25-year concession. The mine has reserves of 88 million tons and produces 4 million tons a year, Banpu said at the time of the purchase.
Source: http://www.bloomberg.com/apps/news?pid=20601080&sid=aBESbuMUBPMY&refer=asia
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Tuesday, 30 November 99
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Showing 6871 to 6871 news of total 6871 |
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- GMR Energy Limited - India
- Parliament of New Zealand
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- Meenaskhi Energy Private Limited - India
- Kaltim Prima Coal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Renaissance Capital - South Africa
- Formosa Plastics Group - Taiwan
- Singapore Mercantile Exchange
- Deloitte Consulting - India
- CNBM International Corporation - China
- Trasteel International SA, Italy
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- International Coal Ventures Pvt Ltd - India
- Latin American Coal - Colombia
- Offshore Bulk Terminal Pte Ltd, Singapore
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- London Commodity Brokers - England
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- Energy Development Corp, Philippines
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- Metalloyd Limited - United Kingdom
- Toyota Tsusho Corporation, Japan
- Holcim Trading Pte Ltd - Singapore
- Therma Luzon, Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Mines - Canada
- Bukit Asam (Persero) Tbk - Indonesia
- Merrill Lynch Commodities Europe
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- Ceylon Electricity Board - Sri Lanka
- Romanian Commodities Exchange
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- Mintek Dendrill Indonesia
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- Dong Bac Coal Mineral Investment Coporation - Vietnam
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- Minerals Council of Australia
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- Anglo American - United Kingdom
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- Orica Australia Pty. Ltd.
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- Binh Thuan Hamico - Vietnam
- GAC Shipping (India) Pvt Ltd
- MS Steel International - UAE
- Indika Energy - Indonesia
- Marubeni Corporation - India
- Manunggal Multi Energi - Indonesia
- The Treasury - Australian Government
- Georgia Ports Authority, United States
- New Zealand Coal & Carbon
- Meralco Power Generation, Philippines
- Aboitiz Power Corporation - Philippines
- SMG Consultants - Indonesia
- McConnell Dowell - Australia
- Mjunction Services Limited - India
- GVK Power & Infra Limited - India
- IEA Clean Coal Centre - UK
- The State Trading Corporation of India Ltd
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- Indonesian Coal Mining Association
- Star Paper Mills Limited - India
- Rio Tinto Coal - Australia
- Global Coal Blending Company Limited - Australia
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- Indian Energy Exchange, India
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- Cigading International Bulk Terminal - Indonesia
- Orica Mining Services - Indonesia
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- Neyveli Lignite Corporation Ltd, - India
- Electricity Authority, New Zealand
- Commonwealth Bank - Australia
- Sinarmas Energy and Mining - Indonesia
- Sarangani Energy Corporation, Philippines
- Eastern Coal Council - USA
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- Baramulti Group, Indonesia
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- Globalindo Alam Lestari - Indonesia
- San Jose City I Power Corp, Philippines
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- Thiess Contractors Indonesia
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- Jindal Steel & Power Ltd - India
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- Bangladesh Power Developement Board
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- Kobexindo Tractors - Indoneisa
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- Directorate Of Revenue Intelligence - India
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- Standard Chartered Bank - UAE
- PetroVietnam Power Coal Import and Supply Company
- Rashtriya Ispat Nigam Limited - India
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- Medco Energi Mining Internasional
- Alfred C Toepfer International GmbH - Germany
- Posco Energy - South Korea
- Edison Trading Spa - Italy
- Independent Power Producers Association of India
- Bayan Resources Tbk. - Indonesia
- Maheswari Brothers Coal Limited - India
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- Banpu Public Company Limited - Thailand
- European Bulk Services B.V. - Netherlands
- Economic Council, Georgia
- TNB Fuel Sdn Bhd - Malaysia
- Africa Commodities Group - South Africa
- VISA Power Limited - India
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- Wood Mackenzie - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Leighton Contractors Pty Ltd - Australia
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- Billiton Holdings Pty Ltd - Australia
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- ICICI Bank Limited - India
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- Heidelberg Cement - Germany
- Asia Pacific Energy Resources Ventures Inc, Philippines
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- Australian Commodity Traders Exchange
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- Straits Asia Resources Limited - Singapore
- Petron Corporation, Philippines
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- Planning Commission, India
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- Krishnapatnam Port Company Ltd. - India
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- Ministry of Transport, Egypt
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- Bulk Trading Sa - Switzerland
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- The University of Queensland
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- Chamber of Mines of South Africa
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- Salva Resources Pvt Ltd - India
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- Interocean Group of Companies - India
- Electricity Generating Authority of Thailand
- Mercator Lines Limited - India
- Bhoruka Overseas - Indonesia
- Coalindo Energy - Indonesia
- Antam Resourcindo - Indonesia
- Coastal Gujarat Power Limited - India
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- Sindya Power Generating Company Private Ltd
- Tata Chemicals Ltd - India
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- Carbofer General Trading SA - India
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- Australian Coal Association
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