Bayan Resources' Profits Continue to Rise, Reaching a New Record in 2022

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Adi Ahdiat 29/03/2023 17:04 WIB

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Bayan Resources Tbk (BYAN) consistently reported increased profits during the 2019-2022 period.

Net Profit of PT Bayan Resources Tbk (2019-2022)

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Bayan Resources' Profits Continue to Rise, Reaching a New Record in 2022

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Net Profit of PT Bayan Resources Tbk (2019-2022)

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PT Bayan Resources Tbk (BYAN) reported a net profit of USD 2.18 billion in 2022. Converted to Indonesian Rupiah, this amounts to approximately Rp 32.8 trillion (assuming an exchange rate of Rp 15,059 per USD).

BYAN's net profit has consistently increased from 2019 to 2022. In 2022, the coal company's profit rose by approximately 79% year-on-year (YoY), reaching a record high as shown in the graph.

Low Tuck Kwong, the owner of BYAN, was listed as the richest person in Indonesia in 2022.

BYAN's performance is also expected to strengthen in the coming years. At the end of Q3 2022, BYAN announced an increase in coal reserves following exploration. They also plan to increase production in the future.

"PT Bayan Resources Tbk proudly announces an increase in JORC-compliant coal reserves for the Tabang/Pakar Utara coal deposit (East Kalimantan) from 1,475 million tons as of January 1, 2021, to 1,692 million tons as of April 1, 2022," stated BYAN management in a press release (September 29, 2022).

Currently, BYAN is constructing a 101-kilometer road from the Tabang/Pakar Utara coal deposit to the Mahakam River (East Kalimantan), and building a new barge loading facility on the river.

"This facility is targeted for completion in 2023. This will allow the Company to increase production from the Tabang/Pakar Utara coal deposit to more than 60 million tons per year in the coming years," BYAN management revealed.

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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Bayan Resources' Profits Continue to Rise, Reaching a New Record in 2022

Bayan Resources' Profits Continue to Rise, Reaching a New Record in 2022

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Bayan Resources' Profits Continue to Rise, Reaching a New Record in 2022

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