RMKE Earns IDR 199.2 Billion Profit In Semester I 2023

Illustration (Photo: Doc. Antara)

JAKARTA - PT RMK Energy Tbk (RMKE IJ) managed to cover a net profit of IDR 119.2 billion, an increase of 28.8 percent year on year (yoy) in the first half of 2023.

Company Finance Director Vincent Saputra explained, throughout the first semester the company also managed to record operating revenues of IDR 1.3 trillion, an increase of 19.7 percent yoy until June 2023.

The growth in operating income comes from the service segment which has grown 99.7 percent yoy in the first half of this year.

"Along with the growth in operating income, the Company also managed to record a gross profit of IDR 289.9 billion or grew by 28.5 percent yoy in the first half of this year," Vincent said in an online press conference, Thursday, August 3.

Vincent added that the increase in gross profit was also supported by the growth in gross profit from the service segment which had grown by 236.8 percent yoy until June 2023.

He explained that the growth of this service segment was supported by an increase in the volume of train unloading and barge cargo which grew significantly by 23.0 percent yoy and 35 percent yoy, respectively.

"The number of carriages and barge cargoes until June 2023 each has reached 6.3 million MT and 4.3 million MT," Vincent continued.

Then revenue from the coal sales segment tends to be flat amid the normalization of corrected coal prices by 16.1 percent yoy until June 2023, but the performance of this segment is still supported by the growth in coal sales volume by 11.9 percent yoy to 1.1 million MT.

"The growth in coal sales volume mostly comes from the growth in in-house mining production, PT Truba Bara Banyu Enim (TBBE) which produces 671.8K MT coal, or an increase of 45.7 percent yoy and contributes 60 percent to the total volume of coal sales," explained Vincent.

In addition to being supported by coal volume growth, the Company is also trying to optimize operational costs with cost of coal sales revenue which fell 43.1 percent yoy in the second quarter of this year.

"We believe this trend will continue with the contribution of greater profits from the coal services segment, such as the Company's performance in the pre-pandemic period," explained Vincent.