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SWOT Analysis of The Results (SSI: Above, Cons: Above)
Strength
Solid 3Q24 revenue growth, driven mainly by increased mining contracting activities (c.331 Mbcm; +8.9% QoQ, +20.4% YoY) and heavy equipment sales (1,174 units; +15.0% QoQ, -3.8% YoY), along with higher ASP thanks to favorable sales mix; FX gain of IDR 810bn (2Q24: IDR -311bn) on stronger IDR
Weakness
3Q24 coal mining revenue declined to IDR 6.05tn (-27.3% QoQ) due to lower sales volumes (c.2.6 MT; -26.5% QoQ, +2.3% YoY) on adverse weather and ASP (IDR 2.3mn/ton; -1.2% QoQ, -45.9% YoY); gold revenue dropped to IDR 2.64tn (-7.2% QoQ) as sales volumes fell to c.55 koz (-9.8% QoQ)
Opportunity
Higher coal production volumes ahead of the upcoming winter season, coupled with moderate La Niña projection, may boost volumes and demand for mining activities and heavy equipment
Threat
Potential decline in prices, driven by insufficient stimulus from China and reduced imports from India as the country pivots toward renewable energy, could adversely affect demand for coal and mining activities
Samuel Sekuritas Indonesia is a leading Indonesian securities brokerage firm. Established in 1997, the firm has grown to become one of the most respected and trusted financial services companies in the country. With a wide range of services and products, Samuel Sekuritas Indonesia has become a trusted partner to many investors, both institutional and individual.
The company offers a variety of financial services, including equity, debt and derivative securities brokerage services, research and portfolio management, asset management and capital market services, as well as a range of other investment solutions. Samuel Sekuritas Indonesia is also a leader in providing financial education and training, and has established itself as a leading provider of investor relations services.
The company has a strong research capability and is committed to providing its clients with up-to-date and reliable market analysis and recommendations. It also has a team of experienced and knowledgeable professionals who are dedicated to providing quality service to its clients. As a result, Samuel Sekuritas Indonesia has become a preferred partner for many investors in Indonesia.
In addition to its financial services, Samuel Sekuritas Indonesia also offers a range of other services, such as corporate finance and advisory services, mergers and acquisitions, and venture capital.
