Arsal Ismail, the President Director of PT Bukit Asam Tbk (PTBA), was named The Best CEO in Beyond Coal by Tempo and IDNFinancials on Monday, December 1, 2023, during an award ceremony in Bali.Arsal Ismail has important role in PTBA's performance growth and the coal industry in recent years. In addition to successfully driving company performance, Arsal is also considered to be contributing to the environment through the implementation of Environmental, Social and Governance (ESG) principles.
Arsal expressed his gratitude and hoped that the award would increase enthusiasm, allowing the company's performance to improve in the future. "This recognition motivates us even more to improve the company's performance and continue the transformation to realize our vision of becoming a world-class energy company that cares about the environment, and strengthen the implementation of ESG principles so that the company can make optimal contributions to the nation and state," said Arsal.
According to IDNFinancials data, PTBA has demonstrated strong profitability over the past five years. This is evidenced by the company's net profit reaching IDR 12.6 trillion in 2022, growing 59 percent annually.
The performance of PTBA in 2019 and 2020 had indeed slowed due to low global coal prices and the COVID-19 pandemic. Despite the worldwide economic slowdown, however, the company's net profit in 2021 and 2022 was significantly higher than in 2018 and preceding years.
Meanwhile, PTBA's revenue performance for the last nine months (9M) 2023 had reached IDR 27.7 trillion. With margins maintained at 13.6 percent, the company recorded a net profit of IDR 3.8 trillion.
