Petrindo Jaya Kreasi (CUAN) reported an impressive 718.6% YoY rise in revenue (USD 801.7 M vs USD 97.9 M) and 929.3% increase in net income (USD 160.8 M vs USD 15.6 M) for FY24. This record performance can be attributed to the acquisitions of Petrosea Tbk. and MUTU in 2024. Despite declining coal prices, CUAN’s coal mining segment is still the biggest contributor to its top line at 34.7%, with EPC (31.2%) and contact mining (30.3%) not far behind.
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