PTBA reports higher sales volume, but lower revenue, net profit
Friday, October 28 2016 - 09:18 AM WIB
PTBA said in a statement that sales volume in the January-September period of this year increased by 5.5 percent to 15.14 million tons compared to 14.35 million tons in the same period of last year.
The higher sales volume among others resulted from the company?s strategy to sell its medium range calories coal, where domestic market accounted for 60.6 percent of the sales volume, or 9.18 million (up from 7.46 million tons in the same period of last year), while export accounted for 5.96 million tons.
Despite the higher sales volume, revenue during the January-September period was only 10.04 trillion, slightly lower than Rp 10.50 trillion in the corresponding period of last year.
PTBA said that the higher sales volume was also a result of higher capacity of railway transport from the mines to the ports, which increased by 6 percent to 12.68 million tons during the period, compared to the January-September period of last year at 11.94 million tons.
The company said that 10.49 million tons were transported to the Tarahan Port in Lampung (up 2% from 10.27 million tons previously), while 2.19 million tons (up 30%) were transported to the Kertapati port in South Sumatra.
The company said that higher demand from coal-fired power plants also contributed to the higher sales volume, and limited supply from other miners as the four-year coal price downturn has caused some miners to face operational difficulties.
Meanwhile, coal production and purchase from other parties during the January-September 2016 period totaled 14.02 million tons, comprising of 12.98 million tons of own production (down from 14.08 million tons in the corresponding period of last year), and purchase by subsidiary firm of 1.04 million tons.
PTBA said that net profit in the first nine-month period of this year was Rp 1.06 trillion, lower than Rp 1.50 trillion in the corresponding period of last year.
Editing by Reiner Simanjuntak