PT RMK Energy Tbk. (RMKE) is focusing on completing the construction of a hauling road project that is integrated with several mines in Muara Enim, South Sumatra, as the company's effort to boost revenue in the remainder of 2023.
Head of Investor & Public Relations RMK Energy Julius Caesar Samosir said that the project was built to connect the company's loading station to the PT Bukit Asam (Persero) Tbk mine. (PTBA) and a number of other private mines.
He said this development was one of the company's steps to boost business revenue and profits in H-II/2023. Meanwhile, RMKE has so far succeeded in building 34 km of hauling roads out of a total length of 39 km.
"By completing construction of the hauling road to PTBA and several private mines, upstream volumes will increase and in parallel this will increase RMKE revenue," he explained when contacted by Bisnis, quoted Monday (11/9/2023).
Apart from that, the company is also focused on continuing to increase production from RMKE's in-house coal mine, PT Truba Bara Banyu Enim (TBBE). Meanwhile, coal production at TBBE has increased to 150,000 tons per month, from previously 70,000 tons of coal in May 2023.
Previously, RMKE had raised its revenue target for 2023. This year, the company targets revenue to increase to IDR 3.2 trillion.
This is in line with RMKE's decision to increase its mining production target to 2.1 million tonnes and mining transportation services to 10.8 million tonnes.
The company also managed to record operating revenues of IDR 1.3 trillion in H-I/2023 or grew 19.7 percent yoy from the same period the previous year.
The growth in business revenue came from the services segment which was recorded to have increased 99.7 percent yoy in H-I/2023.
On the other hand, the issuer providing coal logistics services recorded a gross profit of IDR 289.9 billion or an increase of 28.5 percent yoy in the first six months of this year. The company also posted a consolidated net profit of IDR 199.2 billion or grew 28.8 percent yoy.
Image source: market.bisnis.com