Receh.in - PT Bukit Asam Tbk (PTBA) is preparing a capital expenditure (capex) of IDR 6.4 trillion for 2023, more than double the previous year's IDR 2.9 trillion. The capex will be used for business expansion and investment in subsidiaries.
Asmal Ismali, the CEO of PTBA, explained that coal prices tend to fluctuate due to various factors, including geopolitical sentiments. Improvements in coal supply from other countries, he said, would suppress coal prices in the global market.
"Therefore, Bukit Asam has prepared several sustainable efforts focusing on efficiency and market penetration. Although coal prices are correcting, we, along with other stakeholders, will keep Bukit Asam positive," said Arsal in Jakarta on Thursday (9/3/2023).
PTBA is optimistic about production growth this year. The management targets coal production to reach 41 million tons, up 11% from the 2022 realization of 37.1 million tons.
"The target for transportation in 2023 is to increase to 32 million tons, up 11% from last year's realization of 28.8 million tons. Regarding coal sales volume, the company targets an increase in sales to 41.2 million tons in 2023, a surge of 30% from the 2022 realization of 31.7 million tons," Arsal added.
In 2022, Bukit Asam's total coal production reached 37.1 million tons, up 24% from 2021's 30.04 million tons. Meanwhile, coal sales amounted to 31.7 million tons, a 12% increase from 2021's 28.4 million tons.
During the same period, the company recorded coal export sales of 12.5 million tons. Meanwhile, the realization of the domestic market obligation (DMO) reached 19.2 million tons, 216% of the DMO target, or 119% of the 2021 realization of 16.1 million tons.
Dividend Distribution
Bukit Asam's Director of Finance and Risk Management, Farida Thamrin, added that dividend distribution is the domain of the company's shareholders. The amount of dividend distribution will be determined at the general meeting of shareholders (RUPS).
Throughout 2022, the company, which is also a member of the Mining BUMN Holding MIND ID, successfully recorded its highest-ever financial and operational performance. Last year, the company posted a net profit of IDR 12.6 trillion, a 159% increase from the previous year's IDR 7.9 trillion.
The achievement in net profit was supported by revenue of IDR 42.6 trillion, a 146% increase compared to 2021's IDR 29.3 trillion. The significant increase in revenue and net profit was driven by the global and national economic recovery, which increased demand and coal prices.
"In line with the outstanding performance in 2022, Bukit Asam's cash position currently stands at IDR 15.9 trillion. The company's total assets as of December 31, 2022, amounted to IDR 45.4 trillion, or 126% higher than the previous year's IDR 36.1 trillion," she said.
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