PT Bukit Asam Tbk (PTBA), a member of the MIND ID Mining BUMN Holding, successfully maintained strong performance despite various challenges in 2024.During this period, the company achieved revenue of IDR 42.76 trillion, reflecting an 11 percent year-on-year (YoY) growth. This revenue growth contributed to a net profit of IDR 5.10 trillion and an EBITDA of IDR 8.30 trillion. As of December 31, 2024, the company’s total assets stood at IDR 41.79 trillion, marking an 8 percent annual increase.
The revenue growth was primarily driven by export sales, which reached 20.26 million tons, marking a 30 percent annual increase. Domestic sales also increased 6 percent annually to 22.64 million tons. Total sales in 2024 amounted to 42.89 million tons, reflecting a 16 percent annual increase.
While PTBA's coal sales are dominated by the domestic market, in terms of mix, the export portion is increasing. Currently, the domestic market accounts for 53 percent of sales, while exports make up 47 percent.
The company successfully realized capital expenditures of IDR 2.35 trillion in 2024, reflecting a 17 percent annual increase. This capital expenditure primarily supports business development, including the expansion of the Tanjung Enim - Keramasan coal transportation infrastructure.
Strong performance was achieved despite facing various challenges such as coal price corrections and market fluctuations. The average ICI-3 coal price index was corrected by 12 percent annually, from USD 84.76 per ton in 2023 to USD 74.19 per ton in 2024. Meanwhile, the average Newcastle coal price index was corrected by 22 percent annually, falling from USD 172.79 per ton in 2023 to USD 134.85 per ton in 2024.
To maintain strong performance, PTBA continues to strive to maximize both domestic market potential and export opportunities. The company also consistently prioritizes cost leadership in every line of the company, ensuring the optimal implementation of sustainable efficiency. This cost leadership is reflected through the management of the stripping ratio, which was 6.23x in 2024, remaining below the target of 6.44x for the year.
