New Risk • Jun 08
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of German stocks, typically moving 15% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (15% average weekly change). High level of non-cash earnings (25% accrual ratio). Minor Risk Profit margins are more than 30% lower than last year (2.9% net profit margin). Board Change • May 20
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 3 non-independent directors. Independent Commissioner Dody Hasril was the last independent director to join the board, commencing their role in 2020. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Aankondiging • Apr 28
PT Harum Energy Tbk, Annual General Meeting, Jun 03, 2026 PT Harum Energy Tbk, Annual General Meeting, Jun 03, 2026. Aankondiging • Oct 04
PT Harum Energy Tbk (IDX:HRUM) announces an Equity Buyback for 751,793,346 shares, representing 5.56% for IDR 837,000 million. PT Harum Energy Tbk (IDX:HRUM) announces a share repurchase program. Under the program, the company will repurchase up to 751,793,346 shares, representing 5.56% of its issued share capital for IDR 837,000 million. The shares will be repurchased at the share price as determined based on the provisions of POJK 29/2023. The program will be valid till January 2, 2026. Aankondiging • May 05
PT Harum Energy Tbk, Annual General Meeting, May 27, 2025 PT Harum Energy Tbk, Annual General Meeting, May 27, 2025. Location: deutsche bank building, lt. 1 jln. imam, bonjol no. 80 jakarta pusat kota adm, jakarta pusat dki, jakarta Indonesia Reported Earnings • Nov 01
Third quarter 2024 earnings released: EPS: US$0.002 (vs US$0.003 loss in 3Q 2023) Third quarter 2024 results: EPS: US$0.002 (up from US$0.003 loss in 3Q 2023). Revenue: US$373.5m (up 149% from 3Q 2023). Net income: US$32.6m (up US$75.9m from 3Q 2023). Profit margin: 8.7% (up from net loss in 3Q 2023). Revenue is forecast to grow 23% p.a. on average during the next 3 years, while revenues in the Oil and Gas industry in Europe are expected to remain flat. Over the last 3 years on average, earnings per share has fallen by 9% per year whereas the company’s share price has fallen by 12% per year. Reported Earnings • Aug 02
Second quarter 2024 earnings released: EPS: US$0.003 (vs US$0.004 in 2Q 2023) Second quarter 2024 results: EPS: US$0.003 (down from US$0.004 in 2Q 2023). Revenue: US$330.7m (up 67% from 2Q 2023). Net income: US$36.4m (down 24% from 2Q 2023). Profit margin: 11% (down from 24% in 2Q 2023). Revenue is forecast to grow 22% p.a. on average during the next 3 years, compared to a 37% growth forecast for the Oil and Gas industry in Germany. Over the last 3 years on average, earnings per share has increased by 6% per year whereas the company’s share price has increased by 1% per year. Reported Earnings • Jun 05
First quarter 2024 earnings released: EPS: US$0 (vs US$0.008 in 1Q 2023) First quarter 2024 results: EPS: US$0 (down from US$0.008 in 1Q 2023). Revenue: US$266.0m (down 9.7% from 1Q 2023). Net income: US$987.3k (down 99% from 1Q 2023). Profit margin: 0.4% (down from 35% in 1Q 2023). Revenue is forecast to grow 25% p.a. on average during the next 3 years, compared to a 1.2% growth forecast for the Oil and Gas industry in Germany. Over the last 3 years on average, earnings per share has increased by 24% per year but the company’s share price has only increased by 7% per year, which means it is significantly lagging earnings growth. New Risk • Apr 17
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of German stocks, typically moving 6.9% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (6.9% average weekly change). Profit margins are more than 30% lower than last year (16% net profit margin). New Risk • Nov 30
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 20% Last year net profit margin: 33% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Profit margins are more than 30% lower than last year (20% net profit margin). Reported Earnings • Aug 08
Second quarter 2023 earnings released: EPS: US$0.004 (vs US$0.007 in 2Q 2022) Second quarter 2023 results: EPS: US$0.004 (down from US$0.007 in 2Q 2022). Revenue: US$197.7m (down 12% from 2Q 2022). Net income: US$47.6m (down 43% from 2Q 2022). Profit margin: 24% (down from 37% in 2Q 2022). The decrease in margin was primarily driven by lower revenue. Revenue is expected to decline by 23% p.a. on average during the next 3 years, while revenues in the Oil and Gas industry in Germany are expected to grow by 1.5%. Over the last 3 years on average, earnings per share has increased by 75% per year but the company’s share price has increased by 95% per year, which means it is tracking significantly ahead of earnings growth. Aankondiging • May 19
PT Harum Energy Tbk, Annual General Meeting, Jun 09, 2023 PT Harum Energy Tbk, Annual General Meeting, Jun 09, 2023, at 02:30 Coordinated Universal Time. Location: Deutsche Bank Building, 17th Fl. Jln. Imam Bonjol No. 80 Central Jakarta Indonesia Agenda: To consider approval of the Company’s Annual Report for Fiscal Year 2022, which includes the Company’s Activity Report, the Board of Commissioners’ Supervisory Report and Ratification of the Company’s Consolidated Financial Statement for the fiscal year ended 31 December 2022; to consider approval of the use of Company’s Net Profit for Fiscal Year 2022; to consider appointment of Public Accounting Firm to audit the Company’s Financial Statement for Fiscal Year 2023; and to consider Determination of salary and honorarium for members of the Board of Directors and Board of Commissioners for Fiscal Year 2023. Buying Opportunity • May 03
Now 34% undervalued after recent price drop Over the last 90 days, the stock is down 17%. The fair value is estimated to be €0.12, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 56% over the last 3 years. Earnings per share has grown by 86%. For the next 3 years, revenue is forecast to decline by 12% per annum. Earnings is also forecast to decline by 8.6% per annum over the same time period. Reported Earnings • Apr 08
Full year 2022 earnings released: EPS: US$0.023 (vs US$0.006 in FY 2021) Full year 2022 results: EPS: US$0.023 (up from US$0.006 in FY 2021). Revenue: US$904.4m (up 169% from FY 2021). Net income: US$301.8m (up 306% from FY 2021). Profit margin: 33% (up from 22% in FY 2021). The increase in margin was driven by higher revenue. Revenue is expected to decline by 12% p.a. on average during the next 3 years, while revenues in the Oil and Gas industry in Germany are expected to grow by 3.2%. Over the last 3 years on average, earnings per share has increased by 86% per year but the company’s share price has increased by 96% per year, which means it is tracking significantly ahead of earnings growth. Buying Opportunity • Feb 23
Now 30% undervalued after recent price drop Over the last 90 days, the stock is down 3.3%. The fair value is estimated to be €0.13, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 41% over the last 3 years. Earnings per share has grown by 84%. Revenue is forecast to decline by 15% in 2 years. Earnings is forecast to decline by 2.3% in the next 2 years. Board Change • Nov 16
Less than half of directors are independent Following the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 2 non-independent directors. Independent Commissioner Dody Hasril was the last independent director to join the board, commencing their role in 2020. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Aug 05
Second quarter 2022 earnings released: EPS: US$0.007 (vs US$0.001 loss in 2Q 2021) Second quarter 2022 results: EPS: US$0.007 (up from US$0.001 loss in 2Q 2021). Revenue: US$225.3m (up 284% from 2Q 2021). Net income: US$83.2m (up US$90.5m from 2Q 2021). Profit margin: 37% (up from net loss in 2Q 2021). The move to profitability was driven by higher revenue. Over the next year, revenue is forecast to grow 29%, compared to a 32% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has increased by 73% per year but the company’s share price has increased by 104% per year, which means it is tracking significantly ahead of earnings growth. Aankondiging • May 14
PT Harum Energy Tbk, Annual General Meeting, Jun 06, 2022 PT Harum Energy Tbk, Annual General Meeting, Jun 06, 2022, at 03:00 Coordinated Universal Time. Location: Deutsche Bank Building, 17th Fl Jln. Imam Bonjol No. 80,Central Jakarta Central Jakarta Indonesia Agenda: To consider Approval of the Company's Annual Report for Fiscal Year 2021, which includes the Company's Activity Report, the Board of Commissioners' Supervisory Report and Ratification of the Company's Consolidated Financial Statement for the year ended December 31, 2021;To consider Approval of the use of Company's Net Profit for Fiscal Year 2021;To consider Appointment of Public Accounting Firm to audit the Company's Financial Statement for Fiscal Year 2022 and determination of other requirements; and Determination of salary and honorarium for members of the Board of Directors and Board of Commissioners for Fiscal Year 2022. Board Change • Apr 27
Less than half of directors are independent Following the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 3 non-independent directors. Independent Commissioner Dody Hasril was the last independent director to join the board, commencing their role in 2020. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Apr 04
Full year 2021 earnings released: EPS: US$0.029 (vs US$0.023 in FY 2020) Full year 2021 results: EPS: US$0.029 (up from US$0.023 in FY 2020). Revenue: US$336.2m (up 113% from FY 2020). Net income: US$74.3m (up 26% from FY 2020). Profit margin: 22% (down from 37% in FY 2020). The decrease in margin was driven by higher expenses. Over the next year, revenue is forecast to grow 84%, compared to a 43% growth forecast for the oil industry in Germany. Over the last 3 years on average, earnings per share has increased by 44% per year but the company’s share price has increased by 117% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Nov 03
Third quarter 2021 earnings released: EPS US$0.01 (vs US$0.002 in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: US$89.8m (up 167% from 3Q 2020). Net income: US$27.2m (up US$23.4m from 3Q 2020). Profit margin: 30% (up from 11% in 3Q 2020). Over the last 3 years on average, earnings per share has increased by 36% per year but the company’s share price has increased by 66% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Aug 04
Second quarter 2021 earnings released: US$0.003 loss per share (vs US$0.008 profit in 2Q 2020) The company reported a mediocre second quarter result with weaker earnings and weaker control over costs, although revenues improved. Second quarter 2021 results: Revenue: US$58.6m (up 42% from 2Q 2020). Net loss: US$7.26m (down 134% from profit in 2Q 2020). Over the last 3 years on average, earnings per share has increased by 23% per year whereas the company’s share price has increased by 26% per year. Reported Earnings • Apr 12
Full year 2020 earnings released: EPS US$0.023 (vs US$0.007 in FY 2019) The company reported a decent full year result with improved earnings and profit margins, although revenues were weaker. Full year 2020 results: Revenue: US$157.8m (down 40% from FY 2019). Net income: US$59.0m (up 219% from FY 2019). Profit margin: 37% (up from 7.0% in FY 2019). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 9% per year but the company’s share price has increased by 25% per year, which means it is well ahead of earnings. Is New 90 Day High Low • Jan 28
New 90-day high: €0.24 The company is up 126% from its price of €0.11 on 30 October 2020. The German market is up 19% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Oil and Gas industry, which is up 64% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €0.10 per share. Is New 90 Day High Low • Jan 09
New 90-day high: €0.20 The company is up 179% from its price of €0.072 on 09 October 2020. The German market is up 8.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Oil and Gas industry, which is up 36% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €0.11 per share. Reported Earnings • Nov 07
Third quarter 2020 earnings released: EPS US$0.002 The company reported a decent third quarter result with improved earnings and profit margins, although revenues were weaker. Third quarter 2020 results: Revenue: US$33.6m (down 45% from 3Q 2019). Net income: US$3.81m (up 13% from 3Q 2019). Profit margin: 11% (up from 5.6% in 3Q 2019). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 24% per year but the company’s share price has only fallen by 4% per year, which means it has not declined as severely as earnings. 
