Up 79.3 Percent, Bayan Resources Earns IDR 33.7 Trillion Net Profit In 2022

JAKARTA - PT Bayan Resources Tbk (BYAN) recorded a net profit of IDR 2.17 billion US dollars or equivalent to IDR 33.7 trillion (exchange rate of IDR 15,470 per US dollar) throughout 2022.

Launching the financial statements on the Indonesia Stock Exchange (IDX), the company's net profit rose 79.3 percent year on year (yoy) from the previous 1.21 billion US dollars in 2021.

Meanwhile, the company's profit was supported by revenues that reached 4.70 billion US dollars in 2022, or an increase of 67.85 percent yoy from the previous 2.8 billion US dollars in the same period in 2021.

Quoting Antara, revenue from the coal segment was recorded at 4.69 billion US dollars and non-coal amounting to 10.85 billion US dollars.

The issuer with 60.94 percent of shares owned by Low Tuck Kwong recorded a cost of US$1.54 billion by the end of 2022, from the previous US$1.10 billion in the same period in 2021.

Meanwhile, selling expenses amounted to USD 140.4 million, general and administrative expenses amounted to USD 77.4 million, financial expenses USD 2.6 million, and other expenses of USD 8.9 million.

Furthermore, BYAN's liabilities until the end of 2022 were recorded at 1.95 billion US dollars, while, equity was recorded at 1.99 billion US dollars.

Thus, the company's assets until the end of 2022 were recorded at 3.94 billion US dollars, or an increase from the previous 2.43 billion US dollars at the end of 2021.

Until trading Friday (10/3) at 14.00 WIB, BYAN's shares fell 0.13 percent to IDR 18,650, with a trading frequency of 179, a transaction value of IDR 2.23 billion and a trading volume of 119.60 thousand shares.