BUMI 2020 performance turns into US$ 338.0 million loss
JAKARTA. PT Bumi Resources Tbk. (BUMI) posted a loss for the current year of US$ 338.0 million in line with a 21% decrease in revenue to US$ 3,680.8 million. This performance reversed compared to 2019 which recorded a profit of US$ 6.8 million.
Based on financial data presented in an information disclosure on the Indonesia Stock Exchange on Tuesday (18/5/2021), the coal mining company further revealed that the decline in sales prices by 14% and lower sales volumes by 7% had an impact on lower revenue which was only US$ 3,680.8 million, down 21% from US$ 4,653.7 million recorded in 2019.
In line with the decline in sales, the cost of goods sold also decreased by 19% to US$ 4,003.7 million. So that the company posted a gross profit of US$ 435.6 million vs US$ 649.9 million, a decrease of 33%.
Even though the company managed to control costs tightly and keep production close to normal levels, the company still could not withstand the sharp decline in profit before tax which fell by 174%, BUMI posted profit before tax of US$ 260.7 million.
In the end, BUMI in 2020 booked a loss for the current period attributable to the owners of the parent entity of US$ 338.0 million, while in 2019 it still experienced a profit of US$ 6.8 million. (AM/LM)