PT Bukit Asam Tbk (PTBA) Q2 2024 earnings summary

Executive summary

• Revenue for the six months ended 30 June 2024 reached Rp19.64 trillion, up 4% year-over-year, with net profit at Rp2.05 trillion, down 29% from the same period last year.

• Coal sales to PLN Group and MIND ID Trading Pte. Ltd. contributed 49% of consolidated revenue.

• The company maintained a strong cash position with cash and cash equivalents of Rp4.53 trillion as of 30 June 2024.

Financial highlights

• Gross profit for H1 2024 was Rp3.40 trillion, down from Rp4.10 trillion in H1 2023.

• Operating profit reached Rp2.52 trillion, a decrease from Rp3.02 trillion year-over-year.

• Earnings per share (EPS) for H1 2024 was Rp177, compared to Rp242 in H1 2023.

• Total assets stood at Rp38.39 trillion, with total equity at Rp19.52 trillion as of 30 June 2024.

• Dividends paid in H1 2024 amounted to Rp4.58 trillion.

Segment performance

• Coal mining remains the primary segment, contributing the majority of revenue and profit.

• Other segments include mining services, briquette processing, palm oil, and health services, but their contribution is minor compared to coal.

• All non-current assets, except financial instruments, are located in Indonesia.