BUMI RESOURCES FIRST QUARTER – ESTIMATED OUTTURN AND
FUTURE OUTLOOK FULL YEAR 2008
Jakarta, 30 April 2008 – PT Bumi Resources Tbk. take s this opportunity of providing a relevant
background to Bumi’s Q108 outturn on volume and price parameter and a forecast, quarter wise,
of our FY08 outturn.
Q1 in any year is usually the lowest performing quarter on sales and price beca use of impact of
rainfall which adversely affects coal mined and conveyed and prices are largely at previous year
levels.
In Q107 Bumi sold 14.5 million tons vs Q106 of 11.5 million tons - the reason being that Q107
was untypical of a normal year as year end inventory in 2006 was at a record level of 5 to 6
million tons and we sold about 3 million tons from inventory, hence, sale from fresh production
in Q107 was actually 11.5 million tons or the same Q106. Year end inventories in 2007 were
negligible and we sold out of fresh production and yet achieved 12.5 million tons of sales in
Q108 and removed overburden at 13% higher than Q107. We emphasised this point specifically
to reporters this morning – this may have been missed by a few.
Our forecast for 2008 is 62 million tons of sales (vs 55.4 million tons in Fy07), Production of 64
million tons ( vs 54.2 million tons in FY 07) at an average price of $ 70/ton ( vs $44/ton in 2007)
and forecast split of production, sales, price by quarter in 2008 is as follows:-
Q108 Q208 Q308 Q408 FY08
Production (mt) 12.64 15.51 17.99 18.08 64.22
Sales (mt) 12.53 13.96 17.26 17.25 61.00
Average Price ($/t) 58.34 70.73 77.68 81.45 70.00
+ Sales can increase to 62 MT by inventory adjustment during the year.
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We expect a ramp up in production and sales from Q208 onwards because of expected higher
productivity due to arrivals of approx $ 200 million of mobile equipment in Q208 which raises
productivity and mining activity levels higher during challenging weather conditions, and we
expect to give a fresh guidance on price for FY08 once the Contract settlements with Japanese
utilities takes place next month for the period April'08/ March '09.
Indeed, Bumi expects another high performance record breaking year in 2008 as you can see.
This is the full substance of what we actually conveyed to reporters today for coal and Bumi we
recommend that a perspective is best taken on an annualized basis by audit year not by a month
or a quarter.
As mentioned yesterday in our press release and advice to IDX and Bapepam, Bumi is
conducting a limited audit review on its Q108 performance and will be formally reporting its
accurate Q108 financials on 30 May '08 once this exercise is over.
For further information, please contact:
Dileep Srivastava
Senior Vice President, Investor Relations
Corporate Communications
Company Secretary
PT Bumi Resources Tbk.
Tel (62-21) 5794 2080
Fax (62-21) 5794 2070
email dileep@bumiresources.com
www.bumiresources.com