PTBA’s Profit Grow Rapidly Due To The increasing of The Volume and Price 07 November 2011
PT Bukit Asam Tbk printed its net profit amount 2,32 Trillion rupiahs on the 3rd quarter of 2011
Jakarta -PT. Bukit Asam (Persero) Tbk has achieved an excellent performance during the first 9 months of this year. The state-owned coal mining company printed its net profit amount 2.32 Trillion rupiahs by the end of the 3rd quarter of 2011.
The profit is 68% higher compare to the company’s profit on the same period last year amount 1.38 Trillion. “The main causes are the increasing on sales volume and coal average sales price.” Said PTBA’s Corporate Secretary Achmad Sudarto, (Wednesday, Oct of 26).
On its Published company presentation, the increasing of the net profit is supported by the increasing of sales. The percentage of the increasing of sales was 31.38 % year on year, count from 5.90 rupiahs on year 2010 to 7.75 trillion rupiahs by the end of the 3rd quarter this year.
Mentioned on company’s release, the volume of PTBA’s coal (self-producing and buy to the 3rd party), reached to 10.18 million tons or 8% higher compare to the same period last year. Amount of 9.85 million tons sold from the total volume, or 1% higher compare to the same period last year.
Though the cost of goods sold is also raised up, but it still considerable, because compare to the last year, the percentage are only raised about 16%. Based on that condition, the gross revenue of the company is still consider high (about 51.30%) compare to the same period on September 2010 amount 44,81%.
Domestic Majority
Head of research of PT BNI Securities Norico Gaman stated that the increment of PTBA’s performance until this September is regard as contented. The positive statement came out from the fact that PTBA’s performance on this period is increase significantly.
“It’s a reflection of significant company’s revenue. What makes PTBA got its benefit are the raising of sales volume and contract’s price repairmen.” Said Norico Gaman yesterday.
The contract’s price repairmen became significant because the main sales target of PTBA is for The Domestic Market. PTBA stated that the sales portion for domestic market reached 68%, while for the export market is only about 32%.
The sales activity of PTBA which more focusing on local market have contribution in saving PTBA from the trend of price decreasing on global market. Moreover, PTBA still continue to increase its sales volume. “The Gross revenue margin raised to the high level is because of total local sales activity is far higher than export market.” explained Naraco.
Naroco has a strong confident that coal sales price will be higher than last year. He even make a prediction that the average selling price of PTBA’s coal will tend to be on 90 US $ per tons this year.
With an extraordinary achievement on this first nine month, Norico has no doubt that PTBA will get the same achievement on next quarter IV. Thus, PTBA’s growth projection counted from the early years can increase up to 40% compare the same period on the last year.
At the end of the year, Norico estimated that PTBA will be able to achieve the net profit around 3 trillion rupiahs while the revenue were predicted will get amount 10 trillion rupiahs.
“This fact shows us that PTBA has the ability to rising up its performance with strong will in such a hard condition where global economic growth is tending to run slower than previous years. Said Norico
Norico also suggest that PTBA have to maintain its global market as well.
Norico also estimated that the realization of PTBA’s sales will up over the company’s target amount 13 billion tons. He even mentioned that the sales revenue will grow even higher.
Norico stated that PTBA’s sales volume is depend on the railway track, which this mean the carriage and locomotive addition that done recently will support the increasing in production capacity. This will begin affect the increasing on transport capacity in quarter 4 of 2011. PTBA stock share is downgrade to 0.58% to 17.250 per share.
By : Irma Yani Nasution dan Sanny Cicilia S
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