PT Sumber Global Energy Tbk ( SGER ) tends to be conservative in setting operational targets in 2023. In which, SGER targets coal sales volume to grow 10% to 15% for 2023.
In comparison, SGER managed to sell 7.4 million tons in 2022, up 138.70% from actual sales in 2021 which were only 3.1 million tons.
Main Director of SGER Welly Thomas said, as of the first quarter of 2023 SGER managed to sell 2.5 million tons of coal. This figure skyrocketed 214.7% year-on-year (YoY) from actual sales in the first quarter of 2022, which was only 802,000 tons.
For the record, the government imposed a ban on coal exports in January 2022 which affected sales volume in the first three months of 2022.
SGER's solid operational performance also led to an increase in financial performance. This issuer, which is engaged in coal trading , posted revenue of IDR 3.17 trillion, a 253.22% jump from realized revenue in the same period last year, which was IDR 900.53 billion.
As a result, SGER was able to collect a net profit of up to IDR 253.04 billion, an increase of 338.04% from net profit in the same period last year which was only IDR 57.76 billion.
In addition to the increase in the performance of the coal sales segment, another factor driving the increase in revenue was revenue from new business lines, namely nickel sales worth IDR 23.89 billion and revenue from the contractor business worth IDR 4.03 billion.
After surging last year, SGER management estimates that the average coal price this year will be lower, with the average selling price expected to be slightly lower or relatively flat compared to 2022.
Meanwhile, global demand for coal is still strong, especially from China, Asia and Europe where natural gas supply is still not normal.
Although not mentioning specific figures, management hopes that this year's revenue can match or even be higher than 2022 revenue. This optimism is based on data from the first quarter of 2023 where sales volume and average selling price, aka the average selling price (ASP) of coal, are still showing growth .
"And also the revenue contribution from business lines other than coal trading, is expected to start making a bigger contribution," said Welly, Tuesday (6/6).
