Coal Price Drops, ITMG Net Profit Drops To 94 Million US Dollars

Coal (photo: dock. intermediate)

JAKARTA - PT Indo Tambangraya Megah Tbk (ITMG) recorded a 27 percent decrease in net profit in the first semester of 2025.

Quoted from the ITMG financial report, the company posted a profit of 94 million US dollars compared to the same period the previous year which was recorded at 129 million US dollars.

In terms of revenue from sellers, ITMG increased by 12 percent to 919 million US dollars from the previous 1.05 billion US dollars.

ITMG Investor Relations, Agung Putra Sulaiman said, although coal sales increased by 8 percent, this decline in revenue was influenced by the drop in coal reference prices by 19 percent to 78 US dollars per ton.

Even though ITMG's coal production has increased, he continued, the company managed to reduce the cost of revenue by 10 percent yoy from USD 774 million in 2024 to USD 695 million.

"This decline is due to lower operational costs and is efficient in controlling costs," he said in a statement to the media, Tuesday, August 12.

He continued, on an annual basis, sales expenses decreased slightly by 2 million US dollars, while general administrative expenses rose by 4 million US dollars and total operating expenses in the first semester were recorded at 100 million US dollars.

In terms of deposits to the government, ITMG recorded a 10 percent decrease in royalties to 104 million US dollars compared to the previous period of 116 million US dollars.

"This decrease was caused by a decrease in the average selling price of coal. In addition, the income tax burden was recorded at 43 million US dollars," he said.