Bukit Asam Projects Export Portion to Reach 40%

PT Bukit Asam Tbk (PTBA) managed to increase the volume of coal sales throughout the first nine months of 2022. President Director of Bukit Asam Arsal Ismail said the portion of PTBA’s export sales continued to increase. In the first quarter (Q1) of 2022, export sales accounted for 33% of total sales. The figure reached 38% in the third quarter (Q3) of 2022.

Reported by investasi.kontan.co.id, Arsal explained that the increase in the export portion in the second and third quarters caused the export portion until the third quarter of 2022 to account for 38% of all sales. Arsal also explained that Asian countries, such as India, China, and Japan, are still PTBA’s main coal markets.

“As for Europe, only a small part. We are also still exploring (to Europe). So that customers are dominated by Asian countries,” added Arsal in a virtual event (27/10/2022).

By the end of the year, Arsal projects that the export portion will likely be in the range of 38%-40% of total sales. This is because in its implementation, although the price of export coal is still intact, PTBA as a part of a government company (BUMN)  must still consider the condition of domestic supply.

“Our sales are almost 60% dominated by the domestic market, especially for the State Electricity Company (PLN),” he explained.

Meanwhile, the realization of the domestic market obligation (DMO) until the third quarter of 2022 was recorded at 14.4 million tons or 159% of the annual target. This coal mining issuer reported a net profit of IDR 10 trillion as of the third quarter of 2022. This number is up 110% compared to the same period last year which was IDR 4.8 trillion.

PTBA’s net profit achievement was supported by increased revenue. As of September 30, 2022, PTBA posted revenues of IDR 31.1 trillion. This realization increased by 60% over the same period last year.