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Successfully Selling Coal to India, Bukit Asam Eyes European Market | merdeka.com

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Merdeka.com – PT Bukit Asam Tbk (PTBA) coal export sales increased 38 percent in the second quarter of 2022 from 33 percent in the first quarter. the increase in the second quarter was due to exports in the first semester of 2022 which recorded 35 percent of all sales.

PTBA’s Director of Finance and Risk Management, Farida Thamrin, explained that the average selling price or Average Selling Price (ASP) in the second quarter was Rp. 1.3 million per ton, an increase of 14 percent compared to the first quarter of 2022.

“This is due to an increase in the portion of export sales. The increase in exports is because the supply of coal to India increases by 2 million tons annually,” said Farida, in an official statement, Tuesday (13/9).

He explained that the increase was also followed by sales to Southeast Asian and East Asian countries such as Thailand, South Korea and Cambodia.

India is PTBA’s largest export destination country with a share of 18 percent of total sales. Then followed by South Korea as much as 4 percent, Thailand 3 percent, Cambodia 2 percent, and China 2 percent.

Therefore, PTBA took advantage of the opportunity to explore the European market by shipping coal to Italy and other European countries.

“With the high price of coal as well as the increasing need and demand for exports, the company is optimistic that it can continue to improve its performance until the end of 2022,” explained Farida.

For information, as of the first semester of 2022, PTBA posted a net profit of IDR 6.2 trillion. The achievement of net profit was supported by revenues of Rp. 18.4 trillion, an increase of 79 percent over the same period last year.

PTBA’s total coal production during the first semester of 2022 reached 15.9 million tons, an increase of 20 percent compared to the first semester of 2021 which was 13.3 million tons. Meanwhile, PTBA’s coal sales per semester I 2022 were recorded at 14.6 million tons or grew by 13 percent on an annual basis. [azz]

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