JAKARTA - PT Borneo Olah Sarana Sukses, Tbk. (BOSS) states that despite the downward trend in global coal prices, BOSS remains optimistic that it can improve its performance by the end of this year. This is because the demand for high-calorie coal is quite stable with premium prices above an average of US$ 70 per MT.
BOSS Finance Director Widodo Nurly Sumady explained, until July this year, the average BOSS Coal production had increased to 75,000 tons per month compared to the previous three months. "Entering the second half of this year, BOSS is focused on increasing production from the two mines that are currently in operation. We are targeting an increase in production until the end of this year above 500 thousand tons, or up about 200% from the previous year's production, " he said.
Widodo added, in terms of sales, BOSS was also very optimistic that it could achieve this year's target of double growth from the previous year. "From the sales side, BOSS coal has even been ordered by buyers until next year. In 2019, our sales composition will increase with new buyers from Japan who are highly segmented in high-calorie coal, namely Itochu and Banpu Group, aside from Glenncore," he said.
Previously, in the first semester of 2019, BOSS recorded a net sales growth of 28% in the first semester of 2019, or as much as Rp172.9 billion compared to net sales in the same period the previous year of Rp135 billion. In addition, BOSS also recorded a gross profit of Rp68.43 billion, an increase of 19% compared to the second quarter of the previous year which amounted to Rp57.68 billion. (LM)