PTBA's 1H2013 coal sales up 20 percent

IDX-listed state-owned coal company PT Bukit Asam (Persero) Tbk (PTBA) said on Friday that it sold 8.81 million tons of coal in the first half of 2013, a 20 percent gain compared to 7.36 million tons in the same period last year.

Up to 53 percent of the total sales or 4.67 million tons destined for export market and 43 percent of total sales or 4.14 million tons for domestic market.

The total sales of 8.81 million tons was contributed by Production and Purchasing which amounted to 8.21 million tons with Tanjung Enim mine unit producing 6.66 million tons in the period, while the company bought a total of 1.155 million tons from third parties.

PTBA's average domestic sales price in first half was Rp 611,000 per ton or a 18 percent decrease year on year, while average export sales price was US$ 76 per ton or a 18.7 percent decrease.

PTBA posted Rp5.43 trillion of revenue in first half of 2013 or 6 percent lower compared to the same period in 2012. For the first semester a total of Rp0.87 trillion of net profit has been booked.

The company is optimistic to achieve full year sales target of 20.68 million tons having the support from PT Kereta Api Indonesia with its 230 new coal carriages and 44 new locomotives commencing full operation in July.

Editing by Tri Subhki Rakhmatullah