JAKARTA. PT Toba Bara Sejahtra Tbk (TOBA) posted a net profit decline of 35.8% year on year (yoy) to US$43.7 million in 2019 from US$68.1 million in 2018.
In a management meeting on Wednesday (15/4), TOBA announced that its sales in 2019 rose 19.9% yoy to US$525.5 million from US$438.4 million in 2018.
The company's sales volume in 2019 reached 4.3 million tonnes, 93.33% of its coal production volume of 4.5 million tonnes. With its average selling price was US$61,7 per ton.
In 2018 TOBA's sales volume had reached 4.9 million tonnes, 90.74% of its coal production volume of 5.4 million tonnes. With its average selling price was US$75,4 per ton.
The company's 2019 sales came from the sales of coal (US$308.5 million) as well as sales to power plants (US$210.4 million) and to the plantation sector (US$6.6 million). (KR/MS)