Export Sales Reach 3.8 Million Tons, PTBA Maximizes Market Potential

Photo illustration. (Doc. PT Bukit Asam Tbk)

JAKARTA - PT Bukit Asam Tbk (PTBA) seeks to optimize domestic market potential as well as export opportunities to a number of countries that have high growth prospects, both existing markets and new markets.

In the first quarter of 2024, PTBA's coal sales reached 9.7 million tons, an increase of 10 percent compared to the same period last year.

The realization of the Domestic Market Obligation (DMO) was recorded at 5.9 million tons or grew 14 percent on an annual basis. Export sales amounted to 3.8 million tons, an increase of 4 percent on an annual basis.

"PTBA continues to strive to maintain domestic supply and optimize export opportunities to a number of countries that have high growth prospects. The sales volume this year is targeted to increase compared to 2023," said PT Bukit Asam Tbk (PTBA) Corporate Secretary, Niko Chandra, quoted on Saturday, May 4.

Niko said India was the largest export market for PTBA. Throughout January-March 2024, sales to India reached 1.5 million tons or grew 7.1 percent on an annual basis.

Meanwhile, exports to South Korea increased rapidly by 80.9 percent from 380.7 thousand tons to 688.5 thousand tons. Rapid growth was also recorded in sales to several countries in Southeast Asia. Exports to Thailand jumped 707.3 percent, Vietnam increased 421.2 percent, and Malaysia grew 71.5 percent.

Along with the increase in sales, PTBA's coal production in the same period also grew 7 percent to 7.3 million tons in the first quarter of 2024. With operational performance support, PTBA managed to achieve revenue of Rp 9.4 trillion and net profit of Rp 790.9 billion in the first quarter of 2024.

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