PT Bumi Resources Tbk recorded revenue of US$1.38 billion in Q1 2022. The revenue of Indonesia's largest coal company increased by 32.6% year-on-year (YoY) from US$1.04 billion in Q1 2021.
Bumi Resources' production decreased by 16% (YoY) to 16.3 million tons in Q1 2022. Despite the production decline, the 59% (YoY) increase in average coal prices successfully boosted revenue.
The increased revenue enabled the company, listed under the code BUMI, to turn around its net loss of US$11.7 million in Q1 2021 into a net profit of US$43.3 million in Q1 2022.
BUMI projects its coal production this year to reach 87 million tons. This comprises production from Kaltim Prima Coal (KPC) of 55-57 million tons and Arutmin of 26-29 million tons.
The average selling price for coal produced by KPC is projected to be US$120-150 per ton. Meanwhile, the average price for Arutmin is projected to be US$80-100 per ton.
(Also read: [This is Indonesia's Largest Coal Producing Company](https://databoks.katadata.co.id/datapublish/2022/05/10/ini-emiten-batu-bara-dengan-produksi-terbesar-di-indonesia#:~:text=Emiten%20Produsen%20Batu%20Bara%20Terbesar%20(2021)&text=Di%20antara%20emiten%20batu%20bara,produksi%2052%2C7%20juta%20ton.))