PTBA Records Highest Sales Record In The Last 5 Years

JAKARTA - PT Bukit Asam Tbk (PTBA) recorded coal sales of 20.1 million tons in the first six months of 2024, growing 15 percent year on year. This achievement is the highest sales record for the Semesteran period.

For comparison, PTBA's coal sales in Semester I 2019 amounted to 13.4 million tons, then 12.6 million tons in Semester I 2020, then 12.9 million tons in Semester I 2021, rose to 14.6 million tons in Semester I 2022, and 17.4 million tons in the same period in 2023.

Pencapaian rekor tersebut ditopang oleh penjualan ekspor batu bara sebesar 8,5 juta pada Januari-Juni 2024, meningkat 20 persen secara tahunan. Sementara realisasi Domestic Market Obligation (DMO) sebesar 11,6 juta ton, tumbuh 12 persen dibanding Semester I 2023 yang sebesar 10,3 juta ton.

"The company is targeting sales volume of 43.1 million tons this year. For this reason, we continue to maximize domestic market potential and export opportunities to a number of countries that have high growth prospects, both existing markets and new markets," said PTBA Finance & Risk Management Director Farida Thamrin, Tuesday, August 27.

Farida added that the export market of PTBA is also increasingly diverse. There are several markets that have been optimized in the second quarter of this year, including Bangladesh and the Philippines. The potential for key markets is also maximized, for example, exports to India managed to increase 37 percent to 3 million tons.

In addition, exports to Thailand, Malaysia and Vietnam also increased significantly. Sales to Thailand in Semester I 2024 amounted to 933 thousand tons, up 605 percent on an annual basis. Exports to Malaysia increased 257 percent to 488 thousand tons. Exports to Vietnam jumped 164 percent from 461 thousand tons to 1.2 million tons.

PTBA's increase in coal sales was supported by production realization of 18.8 million tons and rail transportation of 17.3 million tons per Semester I 2024.

The company also continues to strengthen efficiency in the field of operations and production in order to maintain positive performance. Thanks to various steps, including optimizing the ratio of locus nisbah (Stripping Ratio) and the distance of land and coal transportation, Cash Cost (Cash Cost) decreased 6 percent on an annual basis to IDR 844 thousand per ton.

As a result, PTBA managed to record revenue of IDR 19.6 trillion and net profit of IDR 2.0 trillion in Semester I 2024.

"We focus on optimizing the achievement of operational performance and efficiency in a sustainable manner to maintain the company's positive performance. We are optimistic that we can keep performance positive and in line with the target until the end of 2024," said Farida.