In today’s briefing:
- Indo Tambangraya Megah (ITMG IJ) Q1 FY25: Solid Despite The Coal Price Drop
Indo Tambangraya Megah (ITMG IJ) Q1 FY25: Solid Despite The Coal Price Drop
- Indo Tambangraya Megah (ITMG IJ) reported a solid Q1 FY25 despite the drop in coal prices. Revenues/profits were -1%/+8%YoY because of higher volumes and lower costs.
- After accounting for the 150 million USD dividend liability (which was already paid out in May), net cash is>850 million USD (around 54% of market capitalization).
- With earnings likely to be between 250-300 million USD in FY25, the stock trades at 5.3- 6.25x FY25 PE and 12.5% dividend yield.
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