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Bukit Asam (PTBA) Maximizing Market Potential
PT Bukit Asam Tbk (PTBA) aims to maximize domestic market potential as well as export opportunities to a number of countries with strong growth prospects, both existing and new.
In the first quarter of 2024, PTBA's coal sales reached 9.7 million tons, a 10 percent increase compared to the same period last year.
Domestic Market Obligations (DMO) were realized at 5.9 million tons, representing a 14 percent annual growth rate. Meanwhile, exports were 3.8 million tons, representing a 4% yearly rise.
"PTBA continues to strive to maintain domestic supplies and optimize export opportunities to a number of countries with high growth prospects. This year's sales volume is expected to grow compared to 2023," said PT Bukit Asam Tbk (PTBA) Corporate Secretary, Niko Chandra.
India is PTBA's main export market; shipments to India reached 1.5 million tons in January-March 2024, growing 7.1 percent per year.
Exports to South Korea climbed by 80.9%, from 380.7 thousand tons to 688.5 thousand tons. Sales to numerous Southeast Asian countries increased rapidly as well: to Thailand surged by 707.3 percent, Vietnam by 421.2 percent, and Malaysia by 71.5 percent.
Along with the growth in sales, PTBA's coal production increased by 7% in the first quarter of 2024, reaching 7.3 million tons. In the first quarter of 2024, PTBA generated IDR 9.4 trillion in sales and IDR 790.9 trillion in net profit thanks to strong operational performance.
"We are committed to continuously optimizing operational performance and efficiency in order to sustain the company's strong performance. We are optimistic that we can maintain strong performance and meet targets until the end of 2024," said Niko.
In the first quarter of 2024, PTBA's coal sales reached 9.7 million tons, a 10 percent increase compared to the same period last year.
Domestic Market Obligations (DMO) were realized at 5.9 million tons, representing a 14 percent annual growth rate. Meanwhile, exports were 3.8 million tons, representing a 4% yearly rise.
"PTBA continues to strive to maintain domestic supplies and optimize export opportunities to a number of countries with high growth prospects. This year's sales volume is expected to grow compared to 2023," said PT Bukit Asam Tbk (PTBA) Corporate Secretary, Niko Chandra.
India is PTBA's main export market; shipments to India reached 1.5 million tons in January-March 2024, growing 7.1 percent per year.
Exports to South Korea climbed by 80.9%, from 380.7 thousand tons to 688.5 thousand tons. Sales to numerous Southeast Asian countries increased rapidly as well: to Thailand surged by 707.3 percent, Vietnam by 421.2 percent, and Malaysia by 71.5 percent.
Along with the growth in sales, PTBA's coal production increased by 7% in the first quarter of 2024, reaching 7.3 million tons. In the first quarter of 2024, PTBA generated IDR 9.4 trillion in sales and IDR 790.9 trillion in net profit thanks to strong operational performance.
"We are committed to continuously optimizing operational performance and efficiency in order to sustain the company's strong performance. We are optimistic that we can maintain strong performance and meet targets until the end of 2024," said Niko.
