Throughout 2022, PT Indo Tambangraya Megah Tbk (ITMG), recorded net sales of US$ 3.6 billion. Indo Tambangraya's sales shot up 75 percent from the previous year of around US$ 2.07 billion. Main Director of ITMG Mulianto said the increase in sales in 2022 was driven by the average selling price of coal of US$192 per ton, an increase of 86% from the previous year of around US$103 per ton. Meanwhile, the gross profit margin rose from 44% to 52% in 2022 amid rising global fuel prices, rising royalties, and various battles and challenges throughout 2022. Along with the increase in the acquisition of the average coal price, ITMG recorded a strengthening of cash flows with EBITDA reaching US$ 1.8 billion in 2022, up 101% from the previous year. Meanwhile, net profit rose 152% to US$ 1.2 billion in 2022 from US$ 475 million in 2021.
"By implementing prudent cash management, Indo Tambangraya has managed to maintain an increasingly solid balance sheet," said Mulianto in an official statement, Wednesday (1/3). Until the end of December 2022, ITMG's total assets were US$ 2.6 billion with a total equity of US$ 2 billion. In line with stronger cash flow and EBITDA, ITMG also has a solid cash and cash equivalent position of US$1.4 billion. The net profit per share was recorded at US$ 1.07 per share. Mulianto said that throughout 2022, ITMG produced 16.6 million tons of coal amidst high rainfall. Meanwhile, sales volume reached 18.9 million tons, of which around 5.9 million tons were marketed to China, 4.2 million tons to India, 2.9 million tons to Japan, 1.5 million tons to the Philippines, and 1.5 million tons to India. 1.1 million tons, other countries in Asia Pacific, and Europe.
