PT Bukit Asam Tbk (PTBA) Q2 2025 earnings summary

Executive summary

• Revenue for the six months ended 30 June 2025 reached Rp20.45 trillion, up 4% year-over-year, but net profit dropped 59% to Rp839.9 billion due to higher costs and lower gross margin.

• Gross profit margin declined to 11% from 17% year-over-year, reflecting increased cost of revenue and operational expenses.

• Major customers PLN Group and MIND ID Trading Pte. Ltd. contributed 48% of consolidated revenue.

• The company declared a cash dividend of Rp3.83 trillion for 2024, paid in July 2025.

Financial highlights

• Revenue: Rp20.45 trillion for H1 2025, up from Rp19.64 trillion in H1 2024.

• Net profit: Rp839.9 billion, down from Rp2.05 trillion year-over-year.

• Gross profit: Rp2.25 trillion, down from Rp3.40 trillion year-over-year.

• Basic and diluted EPS: Rp72, compared to Rp177 in H1 2024.

• Total assets: Rp42.68 trillion as of 30 June 2025, up from Rp41.79 trillion at year-end 2024.

• Total equity: Rp19.79 trillion, down from Rp22.64 trillion at year-end 2024.

Outlook and guidance

• Regulatory changes in 2025 require 100% of export proceeds to be held in Indonesia for at least 12 months, impacting liquidity management.

• New coal pricing and royalty regulations may affect future revenue and cost structures.

• The company secured new short-term loans totaling Rp3.9 trillion in July 2025 to support working capital.