Highest In History, Profit Of PTBA 2022 Soars 159 Percent To IDR 12.6 Trillion

Illustration of the Rupiah (Photo: Doc. Antara)

JAKARTA - PT Bukit Asam Tbk (PTBA) posted a net profit of IDR 12.6 trillion or 159 percent from the previous year which was valued at IDR 7.9 trillion.

The achievement of net profit was supported by revenue of IDR 42.6 trillion or 146 percent compared to 2021 which amounted to IDR 29.3 trillion.

The company's total assets as of December 31, 2022 amounted to Rp45.4 trillion or 126 percent compared to 2021 of Rp36.1 trillion.

The significant increase in the company's revenue and net profit was driven by global and national economic recovery which was followed by increased demand in the coal sector, as well as a significant increase in coal selling prices.

"This historic achievement is also supported by an increase in the Company's operational performance throughout 2022," said PTBA President Director Arsal Ismail in a press conference on the company's financial performance presentation on Thursday, March 9.

Meanwhile, PTBA's total coal production in 2022 will reach 37.1 million tons, an increase of 24 percent compared to 2021, which is 30.04 million tons.

Meanwhile, PTBA's coal sales until 2022 were 31.7 million tons, growing 12 percent compared to 2021 which was 28.4 million tons.

Throughout 2022, the Company recorded export sales of PTBA of 12.5 million tons and the realization of Domestic Market Obligation (DMO) was recorded at 19.2 million tons (216 percent of the DMO target) or 119 percent of the realization in 2021 which was 16.1 million tons.