PTBA?s coal sales volume up 11%

IDX-listed coal giant PT Bukit Asam Tbk (PTBA) said that coal sales volume in the first six months of this year increased by about 11 percent to 10.2 million tons from 9.03 million tons in the corresponding period of last year.

The company said in a statement Friday that domestic market accounted for 63 percent of the total sales volume, while export 37 percent.

PTBA said that the higher sales volume was made possible by a 13 percent increase to 8.48 million tons in the capacity of coal railway transport from its mines in South Sumatra to the ports. About 7.02 million tons, or a 9 percent year-on-year increase, were transported to the Tarahan Port in neighboring Lampung Province, while the remainder went to the Kertapati Port in South Sumatra.

PTBA said that revenue in the first semester of this year increased by 4 percent to Rp 6.76 trillion from Rp 6.51 trillion. Average selling price during the January-June period of this year in the domestic market was Rp 659,240 per ton, or a 6 percent decline from the same period of last year, as against a 18.6 percent drop in the international price index at a time when the global market remained under pressure by a combination of oversupply and weak demand. Meanwhile, average export price stood at US$56.96 per ton, down from $61.37 per ton in the corresponding six months period of last year.

PTBA said that own coal production and coal purchases from third parties during the first semester of this year totaled 8.51 million tons, of which own production accounted for 7.65 million tons.

The company said that net profit in the first semester of this year was Rp 714.45 billion, while gross profit margin stood at 24.41 percent, and net profit margin 10.57 percent. PTBA did not provide comparative figures.

Editing by Reiner Simanjuntak