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Sumber Global Energy recorded impressive results in September 2022

29 December 2022 11:04

JAKARTA. The ever-increasing coal prices managed to drive the revenue of PT Sumber Global Energy Tbk (SGER) to arrive at IDR 7.4 trillion at the end of the third quarter of 2022, shifting 234% year-on-year (yoy). Its profit also reportedly soared 851% yoy.

Welly Thomas, President Director of Sumber Global Energy, said that coals have been the main drive behind the company’s performance growth, both from sales volume and price. He further specified that SGER’s coal sales increased 195% yoy to 5.7 million tons at the end of September 2022 from the initial 1.9 million metric tons seen in Q3 2021. Meanwhile, the average selling price of coals is 11% higher compared to the previous period.

Most of the coals, approximately 95% of total sales, are exported to several countries, including India, China, Vietnam, and Malaysia. The realisation of export sales increased 217% yoy in Q3 2022. Then, the remaining 5% is sold within the domestic market, which also recorded 27% yoy surge in its Q3 2022 sales.

SGER also secured income from nickel through its subsidiary, which has started making profit. At the end of September 2022, SGER recorded revenue from nickel sales worth IDR 46.8 billion through PT Sumber Mineral Global Abadi. Furthermore, it also collected income from its contractor service segment worth IDR 40.9 billion. (AM/ZH)

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