Daily Archives: February 7, 2019

2018 Fourth Quarter and Full Year Results

The following is an extract from the “CNH Industrial 2018 fourth quarter and full year results” press release. The complete press release can be accessed by visiting the media section of the CNH Industrial corporate website: cnhindustrial.com/en-us/media/press_releases/ or consulting the accompanying PDF:

CNH Industrial reported strong Q4 and full year 2018 results.
Consolidated revenues of $29.7 billion, with net income of $1.1 billion or $0.78 per share.
Net industrial debt at $0.6 billion

Financial results presented under U.S. GAAP

  • Industrial Activities net sales in 2018 were up 8% compared to 2017 (up 7% on a constant currency basis), with solid growth in all segments
  • Adjusted EBIT of Industrial Activities increased almost 40% to $1,585 million, with a 5.7% margin (up 1.3 percentage points). Adjusted EBITDA of Industrial Activities was $2,671 million, with a 9.6% margin (up 1.1 percentage points)
  • Adjusted net income was $1,117 million (a $466 million increase compared to 2017), with adjusted diluted EPS of $0.80 (up 74% compared to 2017)
  • Net industrial debt at December 31, 2018 was $0.6 billion, a one third decrease compared to December 31, 2017
  • On December 3, Moody’s Investors Service upgraded the senior unsecured ratings of CNH Industrial N.V. and its subsidiaries CNH Industrial Capital LLC and CNH Industrial Finance Europe S.A. from “Ba1” to “Baa3” with a “stable” outlook
  • The Board of Directors is recommending a dividend of €0.18 per common share, or approximately €244 million (~$278 million), an increase of approximately 30%
  • For 2019, CNH Industrial expects net sales of Industrial Activities at approximately $28 billion, and adjusted diluted EPS between $0.84 and $0.88. Net industrial debt expected between $0.4 billion and $0.2 billion
  • As announced on January 14, 2019, the Company has started a strategic assessment of its businesses, including the determination of targets for each of them, which will culminate in the presentation of a new Strategic Business Plan in a Capital Markets Day to be scheduled in the course of 2019

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Jakabaring to become sports tourism destination

Jakarta (ANTARA) – The Jakabaring Sports City (JSC), located in Palembang, South Sumatra, will become a flagship tourist attraction in Indonesia.

JSC is the location where several sports were held when Indonesia had hosted the 2018 Asian Games.

“Jakabaring Sports City is the only integrated sports complex that deserves to be a leading tourism destination in the country,” Tourism Minister Arief Yahya noted in a press release on Thursday. Yahya had just visited the complex on Wednesday (Feb 6).

In order to realize such a vision, South Sumatra Province is expected to regularly hold sports events at the local, national, or also international levels.

Revenue from organizing sports events comes from television broadcasting, reaching 60 percent; souvenirs and merchandising, 30 percent; and tickets, 10 percent.

Yahya also urged JSC Managing Director Meina Fatriani Paloh to immediately conduct a benchmark study of neighboring countries that have integrated sports areas.

Some cities, such as Melbourne, Australia, have developed sports areas for tourist attraction. Melbourne has a sports complex area on the banks of Yara River, as an integrated area for all sports fields and athlete training centers.

“What about incoming revenue streams? Australia gets the most from sports events, so I think it is good to learn how they manage their sports tourism,” Yahya stated.

JSC Managing Director Meina Fatriani Paloh expected some form of support, in terms of policies and workers, including technical procedures for establishing the complex as a sports tourism destination.

“We want to make JSC a tourist destination with the concept of a sport city and MICE integrated resort area. Thus, we need adequate policy support, technical procedures, and resources,” she explained.

Source: ANTARA News

Jokowi attends 2019 national Chinese New Year celebration

Jakarta, (ANTARA News) – President Joko Widodo (Jokowi) attended the 2019 National Chinese New Year Celebration at the Jakarta International Expo (JIExpo) area in Central Jakarta on Thursday.

Jokowi arrived at the location of the event along with the 5th Indonesian president Megawati Soekarnoputri, who is also the General Chair of the Indonesian Democratic Party of Struggle.

The event, which was attended by thousands of Indonesian ethnic groups, also involved the 6th Indonesian vice president Try Sutrisno and a number of cabinet ministers, including Coordinating Minister for Political, Legal and Security Affairs Wiranto and Secretary of State Pramono Anung.

A number of leaders of state institutions, namely House Speaker Bambang Soesatyo and Regional Representatives Chairman Osman Sapta Odang, as well as Jakarta Governor Anies Baswedan, were also present.

Representatives of foreign countries in Indonesia, kings, and sultans in the country also attended the celebration, under the theme Knitting Diversity Strengthening the Unity.

Also present were figures from Islamic organizations Muhammadiyah and Nahdlatul Ulama, namely KH Syafii Maarif and KH Said Agil Siroj.

Jokowi, wearing a dark blue batik shirt combined with light blue and light brown color, was welcomed enthusiastically by the audience who invited him to shake hands and take pictures.

The event began with a dance performance by a number of young men and women. It was followed by remarks by the Chairperson of the 2019 National Chinese New Year Celebration Committee Sudhamek Agung Waspodo Sunyoto and speech by Jokowi.

In his speech Sunyoto, among others, expressed his gratitude for Jokowis willingness to attend the event.

Sudhamek pointed out that the 2019 Chinese New Year celebration was the first to be held nationally by ethnic Chinese.

Source: ANTARA News

Government sets reference coal price at US$91.80 per ton

Jakarta (ANTARA News) – The Energy and Mineral Resources Ministry set the reference coal price (HBA) at US$91.80 per ton for February 2019, lower than the reference of $92.41 per ton in January under its Decree No. 18 K/30/MEM/2019.

Under the decree, the ministry also set the reference metal mineral prices (HMA) for 20 metal minerals.

“HBA fell $0.61 per ton, from $92.41 per ton in January 2019,” Chief of the Communication, Public Information Service, and Cooperation Bureau of the Energy and Mineral Resources Ministry Agung Pribadi stated here on Wednesday.

HBA for February is lower than that for January, partly due to the policies of China and India to restrict coal imports.

“The two countries policy to use locally produced coal has had an impact on the reduction of HBA for this month,” he pointed out.

In addition, the decline in HBA was also the result of the movement of variables forming HBA including the Indonesia Coal Index (ICI), Newcastle Export Index (NEX), Globalcoal Newcastle Index (GCNC), and Platss 5900 in the previous month. The quality is equal to coal, with a caloric value of 6,322 kilocalories per kilogram GAR, with total moisture content of eight percent; total sulphur, 0.8 percent; and ash, 15 percent.

The decree will serve as the basis to calculate the coal and mineral direct sales for the next one month.

The decree also set the HMA for cobalt, lead, and zinc that also declined. The cobalt price is set at $45,973.68 per dry metric ton (dmt), down from $55,261.36 per dmt in January; the lead price is set at $1,965.18 per dmt, down from $1,948 per dmt; and zinc price is set at $2,517.74 per dmt, down from $2,631.95 per dmt.

Source: ANTARA News