Jakarta, August 27 2024 – PT Bukit Asam Tbk (PTBA) successfully recorded coal sales of 20.1 million tons in the first 6 months of 2024, growing 15 percent annually. This achievement is the highest sales record for the semester.
The company has successfully manage to increase its coal sales performance every year as shown by the yearly comparison from the first semester of 2019 which were 13.4 million tons, increase to 12.6 million tons in the first semester of 2020, and then increase to 12.9 million tons in the first semester of 2021, rising to 14.6 million tons in the first semester of 2022, and 17.4 million tons in the same period in 2023.
The achievement was contributed by coal export sales of 8.5 million in January-June 2024, an increase of 20 percent on an annual basis. Meanwhile, the realization of Domestic Market Obligation (DMO) was 11.6 million tonnes, an increase of 12 percent compared to Semester I 2023 which was 10.3 million tonnes.
"The company is targeting a sales volume of 43.1 million tons this year. For this reason, we continue to maximize domestic market potential as well as export opportunities to a number of countries that have high growth prospects, both existing markets and new markets," said Farida Thamrin, Director of Finance & Risk Management of PT Bukit Asam Tbk (PTBA).
PTBA's export market is increasingly diverse. There are several markets that were successfully optimized in the second quarter of this year, including Bangladesh and the Philippines. The potential of key markets was also increased, for example the exports volume to India managed to increase 37 percent to 3 million tons.
Other export markets that also play an important role for Bukit Asam and have increased their sales orders on product volume, those are Thailand, Malaysia and Vietnam. The sales volume to Thailand in the first semester of 2024 amounted to 933 thousand tons, an increase of 605 percent on an annual basis, hence the export volume to Malaysia increased 257 percent or amounted to 488 thousand tons. Meanwhile, the export volume to Vietnam significantly increased from 461 thousand tons to 1.2 million tons or an increase of 164 percent.
PTBA succeeded in increasing its coal sales because the company managed to achieve production capacity up to 18.8 million tons and delivered the product through rail transportation up to 17.3 million tons on Semester I 2024.
The company also continues to strengthen efficiency in operations and production in order to maintain positive performance, by optimizing the stripping ratio and hauling distances, decreasing cash costs by 6 percent annually to IDR 844 thousand per ton.
As a result, PTBA managed to record revenue of IDR 19.6 trillion and net profit of IDR 2.0 trillion in Semester I 2024.
"Currently, we are focused on optimizing the achievement of operational performance and efficiency to maintain the company's positive performance. We are also optimistic that we can maintain positive performance and in line with our targets until the end of 2024," emphasized Farida.
