These are the LQ45 Coal Mining Companies with the Highest Profits up to Q3 2022

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Adi Ahdiat 28/11/2022 12:40 WIB

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All coal mining issuers in the LQ45 index collectively reported significant profit increases through the end of Q3 2022.

Net Profit of LQ45 Coal Mining Companies, January-September (2021-2022)

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These are the LQ45 Coal Mining Companies with the Highest Profits up to Q3 2022

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Net Profit of LQ45 Coal Mining Companies, January-September (2021-2022)

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All coal mining issuers in the LQ45 index saw a significant increase in profits by the end of the third quarter of 2022.

The LQ45 is an index comprising 45 companies selected by the Indonesia Stock Exchange (IDX) based on specific criteria, such as having the largest market capitalization and highest liquidity in the last 12 months.

Currently, three coal mining issuers are included in this index: Adaro Energy Tbk (ADRO), Indo Tambangraya Megah Tbk (ITMG), and Tambang Batu Bara Bukit Asam Tbk (PTBA).

During the January-September 2022 period, ADRO recorded a profit attributable to the parent entity of US$1.9 billion, or approximately Rp29.9 trillion (using an exchange rate of Rp15,717/US$). This figure is approximately 352% higher than in the January-September period of the previous year.

With this achievement, ADRO recorded the highest net profit among the LQ45 coal mining issuers from the beginning of the year to the third quarter of 2022.

In the same period, ITMG saw a 229% increase in net profit to US$893.81 million, or approximately Rp14 trillion, while PTBA's net profit increased by 110% to Rp10 trillion.

PTBA stated that the increase in coal performance was due to increased demand and strengthening commodity prices in the market.

"This performance increase was driven by the global and national economic recovery, which increased demand for coal, as well as a significant increase in coal prices," said PTBA management in its press release on Monday (21/10/2022).

ITMG management made a similar statement. "The company recorded a strengthening of the average selling price of coal in the first nine months of 2022 at US$190 per ton, up 113% from US$89 per ton in the same period last year," ITMG stated on Wednesday (16/11/2022).

ADRO also confirmed that its performance improved due to increased demand in the international market.

"In China, demand increased because coastal regions were hit by a severe heatwave, causing drought, lower water levels, and reduced hydropower output. These factors led to increased electricity demand compared to previous years and supported strong coal demand," said ADRO management in a press release on Tuesday (1/11/2022).

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."