Profit Of IDR 7.91 Trillion In 2021, Bukit Asam Wants To Produce Coal Up To 36.41 Million Tons This Year

JAKARTA - PT Bukit Asam Tbk (PTBA) has an aggressive target in producing coal this year. Moreover, this member of the Mining BUMN holding managed to record the highest net profit of IDR 7.91 trillion in 2021.

Bukit Asam Corporate Secretary Apollonius Andwie said that the company targets coal production to reach 36.41 million tons this year. "The target is up 21 percent from the realization in 2021 of 30.04 million tons," Apollonius said in a statement, Monday, March 7.

In addition, the company also targets coal transportation to increase 24 percent from 25.42 million tons to 31.5 million tons. And sales volume rose 31 percent from 28.37 million tons to 37.1 million tons in 2022.

Throughout 2021, with coal production reaching 30.04 million tons with transportation of 25.42 million tons and volume of 28.37 million tons, the company's net profit reached IDR 7.91 trillion, up 231 percent from 2020 profit of IDR 2.39 trillion.

According to Apollonius, this figure is the highest achievement in the company's history.

"This achievement is supported by solid operational performance in line with the global and national economic recovery which has pushed up demand for coal," said Apollonius.

During that period, Bukit Asam recorded operating revenues of Rp. 29.26 trillion, up 69 percent from Rp. 17.33 trillion.

The company is also optimistic that its performance can continue to be positive given the higher coal prices. As of December 31, 2021, the Newcastel index coal price is at the level of US$ 137.28 per tonne, with Indonesian thermal coal prices averaging US$ 95.05 per ton.