PTBA reports slight increase in coal sales volume

IDX-listed coal giant PT Bukit Asam Tbk (PTBA) said that coal sales volume in the first semester of this year increased slightly by 2.02 percent to 9.03 million tons compared to 8.83 million tons in the same period of last year.

The company said in a statement obtained Tuesday that revenue also increased slightly by 1 percent to Rp 6.51 trillion in the January-June period of this year compared to Rp 6.43 trillion in the corresponding period of last year as average selling price declined by 3 percent to Rp 703,005 per ton.

Of the total sales volume, export accounted for 4.41 million tons, or a 20 percent jump compared to 3.66 million tons in the first six-month of last year. Main export destinations included Taiwan, Japan, Malaysia, and India, while new markets included Cambodia, South Korea, Sri Lanka, Bangladesh, and Vietnam.

Meanwhile, sales volume in the domestic market declined by 10 percent to 4.62 million tons.

PTBA said that in the first semester net profit reached Rp 0.5 trillion, gross profit margin 26 percent, operating profit margin 14 percent, and net profit margin 12 percent. The company did not provide comparative figures.

Coal production and purchase from third parties in the first semester of this year increased by more than 4 percent to 9.14 million tons compared to 8.76 million tons in the same period of last year. Own production was recorded at 8.32 million tons.

PTBA said that stripping ratio at its Tanjung Enim mine in South Sumatra rose to 4.91 times in the first semester of this year compared to 4.52X in the corresponding period of last year due to opening up of new pits to meet 2015 production target.

Editing by Reiner Simanjuntak