JAKARTA (Yosefardi) – Toba Bara Sejahtera (TOBA) sold 2.8 million tons of coal in the first half of 2013, an increase of 14% from the corresponding period of 2012.
The company’s coal production also grew 13% to 2.79 million tons in the first half, where second quarter production increased by 16.3% to 1.5 million tons from 1.29 million tons in the first quarter.
TOBA, however, reported 7.3% decline in sales revenue to US$188.1 million because of 18.6% drop in average selling price of coal.
Cost of goods sold, meanwhile, declined only by 6% to US$157 million, resulting in 20% drop of EBITDA to US$21.9 million. TOBA then posted net profit of US$12.7 million, significantly lower than US$18.1 million it booked in the first half of 2012.