ABMM - PT. ABM Investama Tbk

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JAKARTA – After its 82.36% yoy increase in its 2022 net profit, PT ABM Investama Tbk (ABMM) gets ready to distribute dividend of USD 75 million, which will be taken out of its net profit in 2022 of USD 269.9 million.

According to the Annual Public Expose of ABMM held online earlier this afternoon (10/5), ABMM’s revenue also increased sharply by up to 41.5% yoy from USD 1.02 billion in 2021 to USD 1.45 billion in December 2022. Approximately 40% of ABMM’s revenue was still dominated by the coal mine business line, while another 33% was generated by the mining contractor services. It is worth mentioning that ABM Investama indeed manages an integrated coal manufacturing chain, including its supporting activities, from coal mining to transport and sales.

Further supported by the peak of the average selling price of coals in 2022, ABMM managed to score gains in revenue and net profit despite its declining sales volume. The coals’ sales volume declined from 13.53 million tons in 2021 to 12.66 million tons at the end of last year.

“If we take a look at Q1 2023 Financial Report, our net profit [attributable to the parent entity] reached USD 106 million. With the projection of stable price, we hope that this year’s performance will be much better than last year,” Adrian Erlangga, Director of ABMM, stated. According to him, coal demands will continue to rise in the future, but the supply will diminish slowly. “Midterm, there will be a coal scarcity. Thus, the price will tend to stabilise, at least until the end of this year,” he added.

After its impressive performance, ABMM’s shareholders agreed to allocate 27.7% of the net profit as cash dividend. This amount is equal to USD 75 million or IDR 1.1 trillion. The dividend will be disbursed on June 9, 2023, to those who have been listed as shareholders before the recording date on May 23, 2023. (ZH)