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PTBA Coal Sales Increase Significantly
Jakarta, September 13, 2022 - PT Bukit Asam Tbk's (PTBA) coal export sales portion increased from 33 percent in the first quarter of 2022 to 38 percent in the second quarter of 2022, resulted in the export portion in Semester I 2022 to be recorded at 35 percent of all sales.
"Average Selling Price (ASP) in the second quarter of 2022 was recorded at Rp 1.3 million per ton, 14 percent increase compared to the first quarter of 2022 due to the portion of export sales increase," said PTBA's Director of Finance and Risk Management, Farida Thamrin.
The increase in exports was due to higher coal supply to India by 2 million tons year on year (yoy), followed by increased sales to Southeast Asian and East Asian countries such as Thailand, South Korea, and Cambodia.
India is PTBA's largest export target with18 percent of total sales, followed by South Korea (4 percent), Thailand (3 percent), China (2 percent), and Cambodia (2 percent). PTBA also entered the European market by shipping coal to Italy and other European countries.
The company continues to increase its export portion in a measurable manner without neglecting domestic needs, with 65 percent portion of domestic sales and 35 percent exports until Semester I 2022.
"With the high price of coal as well as the increasing demand, both domestic and export, the Company is optimistic that it can continue to improve its performance until the end of 2022," said Farida.
As of the first semester of 2022, PTBA posted a net profit of Rp 6.2 trillion, an increase of 246 percent compared to the same period last year which was valued at Rp 1.8 trillion. The achievement of net profit was supported by revenues of Rp 18.4 trillion, an increase of 79 percent over the same period last year. The cash reserve position was well maintained even with the highest dividend payment of Rp 7.9 trillion in June 2022. Net cash was recorded at Rp 11.1 trillion.
"This brilliant achievement is also supported by the Company's solid operational performance throughout Semester I 2022. Prioritizing cost leadership in every line of the company, the Company implements sustainable efficiency optimally," said Farida.
PTBA's total coal production during Semester I 2022 reached 15.9 million tons, an increase of 20 percent compared to Semester I 2021 which amounted to 13.3 million tons. Meanwhile, PTBA's coal sales per Semester I 2022 were 14.6 million tons, 13 percent higher on an annual basis.
"Average Selling Price (ASP) in the second quarter of 2022 was recorded at Rp 1.3 million per ton, 14 percent increase compared to the first quarter of 2022 due to the portion of export sales increase," said PTBA's Director of Finance and Risk Management, Farida Thamrin.
The increase in exports was due to higher coal supply to India by 2 million tons year on year (yoy), followed by increased sales to Southeast Asian and East Asian countries such as Thailand, South Korea, and Cambodia.
India is PTBA's largest export target with18 percent of total sales, followed by South Korea (4 percent), Thailand (3 percent), China (2 percent), and Cambodia (2 percent). PTBA also entered the European market by shipping coal to Italy and other European countries.
The company continues to increase its export portion in a measurable manner without neglecting domestic needs, with 65 percent portion of domestic sales and 35 percent exports until Semester I 2022.
"With the high price of coal as well as the increasing demand, both domestic and export, the Company is optimistic that it can continue to improve its performance until the end of 2022," said Farida.
As of the first semester of 2022, PTBA posted a net profit of Rp 6.2 trillion, an increase of 246 percent compared to the same period last year which was valued at Rp 1.8 trillion. The achievement of net profit was supported by revenues of Rp 18.4 trillion, an increase of 79 percent over the same period last year. The cash reserve position was well maintained even with the highest dividend payment of Rp 7.9 trillion in June 2022. Net cash was recorded at Rp 11.1 trillion.
"This brilliant achievement is also supported by the Company's solid operational performance throughout Semester I 2022. Prioritizing cost leadership in every line of the company, the Company implements sustainable efficiency optimally," said Farida.
PTBA's total coal production during Semester I 2022 reached 15.9 million tons, an increase of 20 percent compared to Semester I 2021 which amounted to 13.3 million tons. Meanwhile, PTBA's coal sales per Semester I 2022 were 14.6 million tons, 13 percent higher on an annual basis.
