Great Performance, Golden Energy Mines (GEMS) revenue of US $ 783.8 million

Good performance, Golden Energy Mines (GEMS) revenue of US $ 783.8 million

PT Golden Energy Mines Tbk (GEMS) recorded excellent financial performance throughout the January-September 2020 period.

Quoting the financial reports on the Indonesia Stock Exchange (IDX),GEMSgenerated revenues of US $ 783.86 million until the third quarter of 2020.This number grew 4.21% (yoy) compared to GEMS ‘revenue per quarter III-2019 of US $ 752.16 million.

The majority ofGEMS ‘revenueper quarter III-2020 came from foreign coal sales of US $ 450.50 million, followed by domestic coal sales of US $ 333.36 million.

Based on customers, GEMS’s revenue until the third quarter of 2020 was dominated by sales to third parties of US $ 657.64 million and sales to related parties of US $ 126.22 million.

GEMS recorded a cost of goods sold of US $ 504.88 million until the third quarter of 2020.This number edged up 0.17% (yoy) compared to the company’s cost of goods sold per quarter III-2019 of US $ 504.02 million.

GEMS selling expenses also increased by 18.42% (yoy) from US $ 120.85 million per quarter III-2019 to US $ 143.12 million per quarter III-2020.

GEMSposted a net profit for the period attributable to owners of the parent company amounting to US $ 63.96 million until the third quarter of 2020.This figure shot up 40.47% (yoy) compared to GEMS’s net profit in the same period the previous year of US $ 45.93 million.

GEMS liabilities until the third quarter of 2020 were recorded at US $ 393.68 million or decreased by 6.79% compared to the company’s liabilities at the end of 2019 amounting to US $ 422.37 million.

GEMS has an equity value of US $ 369.42 million per quarter III-2020 or an increase of 3.11% compared to the company’s total equity as of the end of 2019 of US $ 780.64 million.

The total assets of GEMS by the end of the third quarter of 2020 were recorded at US $ 763.10 million.This amount is down 2.24% compared to the company’s asset value at the end of 2019 of US $ 780.64 million.

Source:https://investasi.kontan.co.id/news/kinerja-cimaik-pendapatan-golden-energy-mines-gems-capai-us-7838-juta