Jakarta,- PT Bukit Asam Tbk (PTBA) is optimistic that coal exports to ASEAN countries will soar in 2025.Bukit Asam Corporate Secretary, Niko Chandra, revealed that PTBA has successfully recorded coal sales of 31.28 million tons until the third quarter of 2024, growing 16% annually.

This achievement is supported by the success of maximizing export opportunities to a number of countries with high growth prospects, including Southeast Asian countries. For example, exports to Thailand reached 1.31 million tons per quarter III 2024, a growth of 363% annually. As a comparison, sales in the same period last year were 360 ​​thousand tons," Niko told Kontan, Thursday (26/12).

Furthermore, sales to Vietnam also increased significantly to 2.01 million tons per Q3 2024, soaring 346% annually. In the same period last year, sales to Vietnam were 580 thousand tons.

On the other hand, the latest report from the IEA (International Energy Agency) provides positive indications that coal will remain an important component in the global energy mix at least until 2027.

"Global energy needs, especially from the power generation sector in developing countries (especially Southeast Asia and South Asia), are still high," said Niko.

For that, Niko said PTBA will maximize the potential of the domestic market as well as export opportunities to several countries that have high growth prospects, both existing markets and new markets.

As an illustration, PTBA earned revenues of Rp 30.65 trillion until September 2024. Growing 10.53% compared to the same period last year which was Rp 27.73 trillion.

However, the bottom line pace was not in line with the top line. PTBA's net profit dropped 14.32% (yoy) from Rp 3.77 trillion to Rp 3.23 trillion. Niko said PTBA faced challenges in terms of coal price corrections and market fluctuations.

He explained that the average ICI-3 coal price index fell by around 14% (yoy) from US$ 86.32 per ton to USD 74.59 per ton until the third quarter of 2024. Meanwhile, the average Newcastle coal price index was corrected by around 28% from USD 185.45 to USD 133.89 per ton.

This condition affects financial performance even though PTBA was able to boost coal sales volume by around 16% (yoy) to 31.28 million tons. PTBA continues to strive to maximize domestic market potential and export opportunities to maintain performance. Also prioritizing cost leadership in every line.