Darma Henwa Allocated Capex USD35Mn This Year

Darma Henwa, Tbk (DEWA:IJ) targeting its capital expenditures (capex) worth USD35Mn in 2018. While until 31 December 2017, the company’s capital expenditures reached USD30.17Mn or down 25.3% compared to the previous year’s USD40.40Mn. The decline occurred because the company has not obtained financing that suits your needs and due to delays in capital expenditure until the year 2018.

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On the other hand, Darma Henwa, a subsidiary of Bakrie Group, does not distribute dividends. The company’s extraordinary general meeting of shareholder on Tuesday (10/07), decided not to distribute dividends over profit-2017. Company is still in need of additional funds for its working capital in the year 2018.

In year 2017, Darma Henwa’s profit for the current year registered USD2.77Mn or increased 403.6% from the previous year. As for business profit increased 100% to the USD16.74Mn over the previous year. This year, Darma Henwa aiming for revenues of USD319Mn. As a comparison, in the last year, company revenues reached USD238.2Mn or 8% from the year 2016.

Along with the increase in income, any increased profit target. Company targeting a rise in earnings before interest, taxes, depreciation, and amortization (EBITDA) to be USD50Mn. Last year, EBITDA decreased 13% GODS to US $32.6 million.