JAKARTA - PT Bumi Resources Tbk (BUMI) is optimistic that the company can achieve revenues of more than US$ 5 billion in 2019. This projection is based on the assumption of a more stable coal market.
Dileep Srivastava, Director of BUMI, said there were indeed a number of challenges that had occurred recently, such as coal prices and restrictions on imports made by China. However, coal prices have started to improve at the level of US$ 100 per ton.
"Next year it should have run more smoothly. Next year, the revenue target can exceed US$ 5 billion," Dileep said as quoted by Kontan.
For capex in 2019, Bumi Resources prepares funds in the range of US$ 50 million to US$ 60 million. As an information, the company's export market is around 75% of total sales and as much as 14% is for China.
At the end of the third quarter of this year, Bumi Resources posted revenues of US$ 824.86 million. This income grew 47 times more than the revenue in the same period last year of US$ 17.37 million. (LM)