Profit Drops 51.41 Percent, PTBA Disburses Strategy In 2024

Rupiah illustration (Photo: dock. Antara)

JAKARTA - PT Bukit Asam Indonesia Tbk (PTBA) revealed a number of company strategies in increasing company profits in 2024.

As is known, PTBA's net profit has decreased by 51.41 percent from the previous year which was recorded at IDR 12.56 trillion to IDR 6.1 trillion.

PTBA's Director of Finance and Risk Management, Farida Thamrin, said that PTBA's revenue during 2023 and 2022 was actually different because the company's average selling process fell by 23 percent with ICI 3 falling by almost 34 percent.

"Secondly, in terms of costs, this is almost the same between costs 2023 and 2022. Components of costs that have increased are royalties, transportation, and mining," said Farida at a press conference in Jakarta, March 8.

Farida also believes that the company's profit will increase again in this year's year. On a quarterly basis, he said, the cost component had fallen further in the fourth quarter.

"The hope is that in 2024, if you use cost efficiency, even if the price goes down, net profit will still be maintained," continued Farida.

Regarding maintaining profits in 2024, PTBA President Director Arsal Ismail said coal prices are a commodity that is difficult to predict in the market. For this reason, he said, the company is only committed to maintaining company revenue and profit.

"We are only committed to keeping the company's performance positive, meaning that we still get profit. The amount of this profit depends on the fluctuation of coal commodity prices," explained Arsal.

To maintain profit and income, said Arsal, his party will continue to make efficiency in terms of costs.

"How can we keep it positive if the price goes down? We have to do efficiency, if the price goes down again, we try our best to keep the company's performance positive," concluded Arsal.