PTBA targets net profit to increase 19%
Friday, March 31 2017 - 01:21 AM WIB
According to company 2016 annual report, revenue is targeted to increase by 43 percent this year.
PTBA saw its net profit last year declined slightly to Rp 2.02 trillion from Rp 2.04 trillion in the previous year due to weaker price and margins. Revenue, however, increased slightly by 1.5 percent to Rp 14.06 trillion.
The company has previously said it plans to increase coal sales volume this year by 30 percent to 27.3 million tons from 20.76 million tons last year amid rising trend in the price of the commodity.
PTBA President Director Arviyan Arifin said that the domestic market is expected to account for about 58 percent of the sales volume target, or around 15.9 million tons, higher than last year?s 12.27 million tons. The remaining 11.4 million tons will go to the export market, or 34 percent higher than last year?s.
He explained to help meet the sales volume target, coal production and coal purchase from other parties this year will also be increased by 30 percent to 27.1 million tons compared to 20.8 million tons last year. Own coal production will increase by 22 percent to 24.1 million tons from the realized output of 19.62 million tons last year. This year?s output target will include 0.2 million tons expected from its subsidiary PT IPC in Peranap, Riau Province. Subsidiary PT Bukit Asam Prima will increase coal purchase by 152 percent to 3.03 million tons this year. (*)