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Bukit Asam 2018 net profit up 12.23% to $350.93M

JAKARTA (RambuEnergy.com) – State-owned coal producer PT Bukit Asam posted net profit of Rp5.12 trillion (US$US$350.93 million) in 2018, increased 12.23% from Rp4.55 trillion in the same period last year.

The increase was in line with the rise in revenues, which reached Rp21.17 trillion compared to Rp19.47 trillion in previous year. Nearly half of the revenues are contributed by coal export sales, which reached Rp2.44 trillion.

Its operating profit rose to Rp6.28 trillion from Rp5.90 trillion in the previous year.

The company is in abundant cash-flow as reflected in its cash from operating which reached Rp7.87 trillion, more than tripple from Rp2.42 trillion in previous year.

As of end 2018, the company’s cash and cash equivalent stood at Rp6.3 trillion, doubled from Rp3.56 trillion in previous year. This reflects a strong cash flow from operation. (*)

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