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Friday, 31 October 14
BUKIT ASAM'S NET PROFIT ROSE 27.42% FOR THE PERIOD JANUARY - SEPTEMBER 2014

COALspot.com: Publicly listed coal miner Bukit Asam reported solid profits in the first nine months of 2014 year.

Coal miner Bukit Asam managed to boost sales by 18.96 percent y-o-y to IDR 9.65 trillion (US$ 797,850,420) and net profit by 27.42% to IDR 1.58 trillion (approximately US$ 130,632,504) between January and September, according to company's un-audited report.

Bukit Asam’s net profit rose 27.42% to IDR 1.58 trillion (approximately US$ 130,632,504) over same period compared to IDR 1.24 trillion (approximately US$ 102,521,712)

PTBA's coal production increased by 13% to 12.48 million tons in first nine months of 2014 compared to the same period in 2013.

PTBA also enjoyed a low stripping ratio of 4.5:1 for the period January - September 2014. The company has also hauled 15% more coal through railway compared to same period last year. According to company's consolidated financial statement released on 30 October, the company has transported 11 million tons of coal in first 3 quarters of this year compared to 9.5 million tons for the same period last year.

The company has noted in its report that, the company has sold 6.68 million tons or 7% more coal to domestic market for the first nine months 2014 compared to same period last year.

The company also said that, the weighted average coal selling price for first 9 months was at IDR. 728,079 (approximately US$ 60.19) per mt.

The average export price was at US$ 71.11 per MT for January - September 2014 and for domestic the company has sold at average IDR 671,426 (approximately US$ 55.62) per MT, the report says.

According to company's unaudited report, the gross profit margin (GPM), operating profit margin ( OPM) and net profit margin (NPM) of company for the first nine months was respectively at 23%,19% and 16%.

The price of coal suffered a steep decline due to oversupply and slumping demand from coal importing countries.

The data from Indonesia’s coal price reference (HBA) showing that prices have plunged by around 15 percent in the first nine months of the year.
(1 US$= Rp.12095)



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