Dian Swastatika Sentosa (DSSA) operates across Mining, Renewables, Technology,
and Chemicals sectors. While mining still dominates, contributing over 90% of
2024 revenue, the tech segment is growing rapidly, led by MyRepublic’s
subscriber surge. Despite a 39.7% yoy revenue drop to USD 3.02B, DSSA improved
its net margin to 18%. Moving forward, the company is committed to allocate USD
500-1,000M in capital expenditure with a strategic focus on renewables and
technology sector.
A well-diversified business portfolio
Dian Swastatika Sentosa (DSSA), founded in 1996 as part of the Sinarmas Group,
functions as a holding company for the Energy & Infrastructure pillar. Its core
business segments include Mining, New & Renewable Energy, Technology, and
Chemicals. DSSA has a broad service portfolio ranging from coal production and
green electricity to fiber internet, pay TV, data centers, and chemical trading.
Mining dominates, but tech gains momentum
In 2024, DSSA reported a revenue decline of 39.7% yoy to USD 3.02B, largely due
to divestments and falling coal prices. Nonetheless, the company improved its net
margin to 18% while its net profit dropped 37.3% to USD 542.8 million. Mining
remains DSSA’s largest revenue contributor, with Golden Energy Mines (GEMS)
producing 53.1M tons of coal in 2024, accounting for over 90% of total company
revenue. On the technology front, DSSA’s MyRepublic broadband service saw
subscriber growth of 73.9% yoy, operating in 129 cities and supporting a 56.6%
yoy increase in tech-related revenue.
Moving to renewables and technology
DSSA is actively shifting its strategic focus toward renewable energy and
technology to diversify its revenue streams and align with long-term sustainability
goals. To support these initiatives, DSSA has outlined a capital expenditure plan
of USD 500–1,000 million, funded through internal cash and external financing,
with the aim of driving innovation, improving operational efficiency, and reducing
dependency on coal-based revenues.
