PT Bumi Resources Tbk (BUMI) wrote a new record of the highest revenue in 2021, hitting USD 5.42 billion following the coal price surge. This revenue was 47% higher than the gains recorded in 2020 of USD 3.68 billion. Total revenue generated by BUMI throughout 2021 came from the sales of 79 million tons of coals mined by its two subsidiaries, PT Kaltim Prima Coal (KPC) that produced 56.9 million tons and PT Arutmin Indonesia (AI) that generated 22.2 million tons.

With this massive gain in its revenue, BUMI then managed to turn the tide around, bouncing back from the net loss reported in 2020 of USD 338 million. In 2021, the net profit of BUMI reached USD 168 million. Dileep Srivastava, Director and Corporate Secretary of BUMI, confirmed that BUMI has set the 2022 coal production target to 81-89 million tons. “Backed up by the revived optimism in the sector and the coal price positive trend, Bumi Resources wishes to significantly boost its performance in 2022,” he mentioned in the press release last Friday.

Source: https://www.idnfinancials.com/news/42965/bumi-revenue-record