PTBA's Profit Reaches IDR 7.9 T in 2021

Rancakmedia.com - In the following article we will discuss PTBA's profits of reaching IDR 7.9 trillion in 2021, for those of you who are curious about complete information, you can read the article below until it's finished.

PT Bukit Asam Tbk recorded a translucent increase in PTBA's profit in 2021, coal sales during the first quarter of 2020 amounted to 2.1 percent, up from 6.6 million tons to 6.8 million tons when compared to the same period the previous year.

Although production volume experienced a slight contraction of around 2.8 percent due to very high rainfall, especially at the beginning of the year.

Meanwhile, the amount of coal transported by rail increased by 12.1% from the same period last year to 6.5 million tonnes.

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This achievement of the Company cannot be separated from management's strategy to implement sustainable efficiency in all lines & optimize export market opportunities to several countries such as India, Hong Kong, Taiwan, Thailand, Vietnam and a number of other Asian countries, amidst price fluctuations. reference coal price (HBA).

The approach of maximizing export sales of medium to high calorie coal to the premium market has helped to achieve this.

Throughout the first quarter of 2020, the Company recorded operating revenues of IDR 5.1 trillion, consisting of domestic coal sales revenue of IDR 3.3 trillion, export coal sales of IDR 1.8 trillion and other activities of IDR 87.2 billion consisting of coal sales of IDR IDR 1.8 trillion.

Electricity, briquettes, crude palm oil, hospital health services and rental services. This operating income was affected by the average selling price of coal which fell 3.9 percent to IDR 741,845/ton from IDR 772,058/ton in the first quarter of 2019.

The decline was due to a decrease in Newcastle coal prices of Rp. 29.5 percent and the Indonesian thermal coal price (Indonesian Coal Index/ICI) GAR 5000 was 6.9 percent compared to the average price in the first quarter of 2019.

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IDR 3.6 trillion was spent on goods sold in the first quarter of 2020, up 1.1% from the comparable period the previous year.

According to the first quarter of 2020 data, sales volume, coal hauled volume and mining service charges all increased due to the increase in exchange rates and increased hauling distances compared to the first quarter of 2019.

Profit the company's operations may still exceed IDR 1.08 trillion even though there is a picture of revenue and an increase in cost of goods sold and operating expenses. EBITDA of 1.5 trillion rupiah and a net profit of 903.2 billion rupiah became the next milestone.

Cash equivalents and time deposits with maturities of more than three months, which the company owned amounted to IDR 8.1 trillion (292%), and fixed assets worth IDR 7.5 trillion were the main components of the company's assets as of March 31 2020. (27.1 percent ).

The company's total liabilities as of March 31 2020 amounted to IDR 7.8 trillion. Overall liabilities increased compared to liabilities as of December 31 2019. This was due to an increase in long-term liabilities of 11.2 percent from the realization in the first quarter of 2019.

With an increase in the position of Cash and Cash Equivalents, the ratio of cash or the ratio of Cash and Cash Equivalents to liabilities short-term The company increased by 167.4 percent which shows that the company has very good liquidity or is very capable of covering its deficiencies. - Timely commitment period.

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Since the company's efficiency plan was put in place to deal with volatile coal prices and the consequent lower demand for coal supply, this achievement was achieved.

Several efficiency strategies that have been carried out by PTBA in the first quarter of 2020 are operationally making efforts to reduce COGS through the implementation of optimizing mining service costs by reducing the stripping ratio and the most optimal hauling distances.

Optimization of equipment running hours and fuel economy. Currently PTBA is also discussing tariffs with various important partners.

PTBA's Profit Translucent Reaches IDR 7.9 T

The 2021 annual financial report was announced by the state-owned mining company PT Bukit Asam Tbk (PTBA) on Monday (7/3/2022).

Similar to other coal issuers which achieved extraordinary results, PTBA also recorded quite large growth over the past year, due to soaring coal prices.

PTBA posted profit for the year attributable to the shareholders of the parent company of IDR 7.9 trillion in 2021, up 231.4 percent compared to IDR 2.39 trillion in 2020.

As a result, basic earnings per share also rose to Rp 702 per share, from the previous year's Rp 213 per share.

Last year's revenue reached IDR 29.26 trillion, an increase of 68.9% compared to the previous year's revenue of IDR 17.3 trillion.

Cost of revenue increased by 23.6% to IDR 15.78 trillion in 2021, compared to IDR 12.76 trillion in 2020. Gross profit was recorded at IDR 13.48 trillion, an increase of 195.3% from IDR 4.57 trillion in 2020.

Meanwhile, operating profit was recorded at Rp. 9.96 trillion, an increase of 295 percent from only Rp. 2.52 trillion in 2020.

FAQs

Below we have summarized some of the questions that are frequently asked about PT Evidence of Asam BUMN, as follows:

Is PT Proof of Acid BUMN?

This change in status was due to the joining of PT Bukit Asam Tbk into the Mining SOE Holding in accordance with PP 47/2017.

Conclusion

PT Bukit Asam Tbk recorded an increase in coal sales of 2.1%, an increase from 6.6 million tons to 6.8 million tons. Production volume contracted by around 2.8 percent due to very high rainfall, especially at the beginning of the year.

The company's total liabilities as of March 31 2020 amounted to IDR 7.8 trillion. This was due to an increase in long-term liabilities of 11.2 percent from the first quarter of 2019. The ratio of cash and cash equivalents to short-term liabilities increased by 167.4 percent.

PTBA posted profit for the year attributable to shareholders of IDR 7.9 trillion in 2021, up 231.4 percent compared to IDR 2.39 trillion in 2020. The state-owned mining company recorded quite large growth over the past year, due to soaring coal price.

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