JAKARTA (Yosefardi) – State coal miner PT Bukit Asam Tbk (PTBA) booked net profit of Rp1.16 trillion in first half of 2014, grew by 33% compared to Rp870 billion for the same period of 2013.
Revenues rose 18% to Rp6.43 trillion from previous Rp5.43 trillion. Its coal sales volume doubled to 8.83 million tons in the period compared to 8.74 million tons a year earlier.
The average coal price also increased 17% to Rp726,766 per tons, compared to Rp621,792 per ton in first half of 2013.
PTBA recorded Ebitda margin of 26% and net profit margin of 18% though coal price has not recovered yet.
PTBA also expects the coal transportation by train to reach 17.9 million tons by end of this year.
The state railway company PT Kereta Api Indonesia is also expected to transport minimum 22 million tons of coal per year by 2015.