JAKARTA. PT Bukit Asam Tbk (PTBA) recorded a net profit of Rp 5.02 trillion as of December 2018, 12.23% higher than in 2017.
Arviyan Arifin, Managing Director of PTBA, said that the growth in net profit was supported by an increase in revenue from export, which managed to reach Rp 2.44 trillion. "And the continuous efficiency that has been successfully carried out by the company," Arifin said on Monday (11/3) today in his official statement.
PTBA's coal sales to the domestic market accounted for 49% of total revenue, while export coal sales were 48%. "The remaining 3% is from other business activities, such as the sale of electricity, briquettes, crude palm oil, hospital health services, and rental services," said Arifin.
PTBA also noted an increase in EBITDA of 111%, more than double, to Rp 7.59 trillion. Arifin said that the achievement of the company's EBITDA exceeded the predetermined target. "The highest net profit achieved since the company operated," Arifin explained. (KR/AR)