Bumi Resources, The Mining Company Of The Bakrie Family Conglomerate, Earns IDR 2.40 Trillion In Profit From IDR 4.83 Trillion Previous Loss

Illustration. (Photo: Unsplash)

JAKARTA - The coal mining company belonging to the Bakrie conglomerate family, PT Bumi Resources Tbk (BUMI) was finally able to score a brilliant performance with a net profit of 168.01 million US dollars (around Rp. 2.40 trillion) in 2021.

This achievement is inversely proportional to BUMI's performance in 2020 which posted a net loss of up to 338.02 million US dollars (around Rp.4.83 trillion). As a result, the profit and loss per 1,000 basic shares was 2.27 US dollars from the previous year which was minus 4.95 US dollars.

The increase in net profit was in line with the increase in revenue of up to US$1.00 billion, up 27.6 percent from revenue in 2020 of US$790.46 million. BUMI's revenue was dominated by sales to third parties in the domestic market, which reached 516.66 million US dollars, followed by third party export sales of 480.97 million US dollars.

There is also revenue from gold sales in the domestic market worth 7.97 million US dollars.

However, a number of BUMI's burdens also increased. Such as the cost of revenue which rose 15.47 percent to 806.47 million US dollars.

BUMI's operating expenses also rose 22.75 percent to US$77.87 million. BUMI's interest expense and finances managed to decrease to 213.26 million US dollars from the previous 222.50 million US dollars.

Meanwhile, the company's assets were recorded at 4.22 billion US dollars or grew from the previous year which reached 3.42 billion. US dollars.