PT Bumi Resources Tbk. (BUMI) estimates that coal production volume will reach 54 million tons by the third quarter of 2023.
BUMI's Director, Dileep Srivastava, estimates the company producing approximately 54-55 million metric tons of coal during the first nine months of 2023.
"The performance of BUMI year-to-date September 2023 is likely to be released on November 30. My estimate is that production will reach 54-55 million metric tons of coal during this period," stated Dileep to Bisnis on Monday (20/11/2023).
For the remainder of the year, Dileep predicts that BUMI could produce between 77 million and 78 million tons of coal. This production target represents an increase compared to the 2022 figure of 70 million tons.
Up until the end of the first half of 2023, BUMI had recorded coal production of 34.5 million tons, marking a 2% increase compared to the same period in 2022.
BUMI sold this coal at an average selling price (ASP) of USD 93.2 per ton. Meanwhile, BUMI's coal sales reached 34.6 million tons in the first half of 2023, representing a 2% increase compared to the first half of 2022.
In the first semester of 2023, BUMI reported revenue of USD 3.3 billion, a 13.3% decrease compared to the first half of 2022, which amounted to USD 3.81 billion.
BUMI's revenue in the first semester of 2023 fell due to the continuous heavy rain condition (La Nina).
BUMI's attributable net profit also fell by 51.2 percent in the first semester of 2023, to USD 81.8 million from USD 167.7 million on an annual basis.
Image source: Artha Adventy-Bisnis
Source: www.market.bisnis.com/Bumi Resources (BUMI) Prediksi Produksi Batu Bara 55 Juta Ton Kuartal III/2023
