High Coal Demand Boosts PTBA's Profit by 59% in 2022

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Adi Ahdiat 10/03/2023 15:46 WIB

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Bukit Asam Tbk (PTBA) reported a net profit of Rp12.6 trillion in 2022, a 59% year-on-year (yoy) increase and the highest in the company's history.

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High Coal Demand Boosts PTBA's Profit by 59% in 2022

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PTBA Net Profit (2018-2022)

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PT Bukit Asam Tbk (PTBA), a member of the MIND ID mining state-owned enterprise holding company, reported a net profit of Rp12.6 trillion in 2022.

This figure represents a 59% increase year-on-year (yoy), marking the highest achievement in PTBA's history.

In 2022, PTBA's revenue also increased by approximately 46% (yoy) to Rp42.6 trillion. The company's total assets rose by 26% (yoy) to Rp45.4 trillion.

"The significant increase in the company's revenue and net profit was driven by the global and national economic recovery, followed by increased demand in the coal sector, and a significant increase in coal selling prices," said PTBA management in its press release on Thursday (March 9, 2023).

"This historic achievement was also supported by improvements in the company's operational performance throughout 2022," it continued.

PTBA's coal production in 2022 reached 37.1 million tons, a 24% increase (yoy). Coal sales volume reached 31.6 million tons, a 12% growth (yoy).

Of the total sales volume, 12.5 million tons of PTBA's coal were exported, while 19.2 million tons were allocated to meet domestic needs or Domestic Market Obligation (DMO).

For 2023, PTBA targets coal production to reach 41 million tons, an 11% increase from the 2022 realization. Sales are also targeted to increase by 30% to 41.2 million tons.

Editor : Adi Ahdiat

"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."

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High Coal Demand Boosts PTBA's Profit by 59% in 2022

High Coal Demand Boosts PTBA's Profit by 59% in 2022

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High Coal Demand Boosts PTBA's Profit by 59% in 2022

High Coal Demand Boosts PTBA's Profit by 59% in 2022

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