PT Bukit Asam Tbk ( PTBA ) is confident that it can once again record brilliant operational performance in 2025 even though the challenges in the coal industry will be tougher. The issuer, a member of the MIND ID Mining BUMN Holding, will once again maximize coal sales in the export market.
As is known, PTBA's coal sales volume grew 16% annually or year on year (yoy) to 42.89 million tons by the end of 2024. This result was supported by an increase in coal sales to the export market of 30% yoy to 20.26 million tons and coal sales in the domestic market which also increased 6% yoy to 22.64 million tons.
PTBA's revenue rose 11% yoy to IDR 42.76 trillion in 2024. However, due to pressure from coal selling prices, PTBA's net profit fell 16.41% yoy to IDR 5.1 trillion.
PTBA President Director Arsal Ismail said that the global economic situation is not good. Moreover, the United States (US) and China are retaliating with import tariff policies, so that Indonesia is also affected. The price of mining commodities is now moving erratically since the issue of the US import tariff policy emerged.
In fact, there is a glimmer of hope for the coal industry after the US decision to withdraw from the Paris Agreement. In fact, the US is about to revive coal-based power plants in its country.
"However, if global economic uncertainty continues to drag on, there are concerns that economic growth in coal-consuming countries such as China, India, South Korea, and Vietnam will experience a slowdown," said Arsal in a press conference, Monday (14/4).
PTBA exports a lot of coal to China, India, and recently to Vietnam. The state-owned company is optimistic that it can fill the market in these countries. Moreover, the need for coal in countries like China is so great.
China is said to be able to produce around 4 billion to 5 billion tons a year. However, China still needs coal supplies from other countries. This is because China's land area is so vast that the shipping costs for transporting coal in the country are quite expensive.
"This is where our role comes in. We have prepared steps so that coal from PTBA can be used for industries in China and other countries such as India, Korea, and Vietnam," Arsal explained.
PTBA also targets to produce 50 million tons of coal in 2025 or an increase of 16.55% compared to the previous year's production realization. The company also targets coal sales and transportation volumes to reach 50.1 million tons and 43.2 million tons respectively in 2025.
