Coal Prices Soared, Bukit Asam Recorded Rp6.2 Trillion Profit In Six Months This Year

JAKARTA - PT Bukit Asam Tbk (PTBA), a member of the Mining BUMN Holding MIND ID, recorded a positive performance in the first semester of this year. The company managed to record a net profit of Rp 6.2 trillion.

The profit gain increased by 246 percent compared to the same period last year or year on year (yoy) which was valued at Rp. 1.8 trillion.

PTBA President Director Arsal Ismail said the achievement of net profit in the first semester of 2022 was supported by revenues of Rp. 18.4 trillion. This achievement also increased by 79 percent over the same period last year.

"This increase in performance is driven by global and national economic recovery which has increased demand for coal, as well as a significant increase in coal prices," said Arsal in a presentation on the company's performance in the first half of 2022, at the Raffles Hotel, Jakarta, Friday, August 26.

Arsal said the company's total assets as of June 30, 2022 were Rp. 35.9 trillion, while as of December 31, 2021, it was Rp. 36.1 trillion.

"This brilliant achievement is also supported by the Company's solid operational performance throughout the first semester of 2022. Prioritizing cost leadership in every line of the company, the Company implements sustainable efficiency optimally," he said.

On this occasion, Arsal also said that PTBA's total coal production during the first semester of 2022 reached 15.9 million tons, an increase of 20 percent compared to the first semester of 2021 which was 13.3 million tons.

"Meanwhile, PTBA's coal sales per semester I 2022 were 14.6 million tons, growing by 13 percent on an annual basis," he said.