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Coal issuer PT Indo Tambangraya Megah Tbk (ITMG) recorded revenue of US$639.93 million in Q1 2022.
This revenue surged 125% from US$284.24 million in the same period last year (year-on-year/YoY).
This revenue increase was also accompanied by a 407% YoY surge in the company's net profit to US$213.27 million.
ITMG targets coal sales volume between 20.5 million and 21.5 million tons in 2022. This target is an increase from sales volume of 20.1 million tons throughout 2021.
To support the achievement of this sales target, ITMG has prepared capital expenditure of US$68.8 million.
This year, ITMG also targets production of 17.5 million to 18.8 million tons. The company's production was recorded at 18.2 million tons in 2021.
"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."