GEMS ended 2021 with triumphant profit growth
JAKARTA – The current year’s profit of PT Golden Energy Mines Tbk (GEMS) proliferated 269.32% to USD 354.02 million in 2021 from USD 95.85 million reported in 2020. President Director of Golden Energy Mines, Bonifasius, announced the achievement in the 2021 Annual Financial Report published earlier today (8/3).
The profit growth of GEMS was recorded at the same time the coal selling price increased in the global market. In 2021, the company gained USD 1.58 billion from contracts with its users, higher than USD 1.06 billion in 2020. Furthermore, its gross profit almost doubled from USD 379.09 million to IDR 756.76 million. Lastly, its operating profit also skyrocketed from USD 129.65 million to USD 471.22 million.
The income gained from export sales increased from USD 633.39 million in 2020 to USD 1.01 billion in 2021, as domestic sales did from USD 428.01 million in 2020 to USD 569.30 million in 2021. The customers of GEMS that contributed over 10% of total revenue were CR Power Fuel (China) Limited, bringing USD 202.98 million, and Adani Global FZ United Arab Emirates of USD 153.05 million. (LK/ZH)