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PT BUKIT ASAM TBK RELEASE
Niko Chandra, Corporate Secretary Email: nchandra@bukitasam.co.id
Telp : 462 215254014 Ext. 2231 Website: http://www.ptba.co.id

Fax :462 215254002

Disclaimer:
This document contains financial information and results of operations, and may also contain projections, plans,
strategies, or objectives of the Company. which can be treated as a forward looking statement of the Company
in accordance with applicable law. The Company Future Estimates depend on risks and uncertainties that result
in the Companys actual achievements and future achievements materially different from those expected or
indicated in the estimates. PT Bukit Asam Tbk does not guarantee that any action based on this document will
roduce the expected results and no certainty can be given that the estimated achievements or indicated in the
Euture Estimates in this document will be achieved.

PT BUKIT ASAM TBK
PERFORMANCE ANNOUNCEMENT AS OF JUNE 30, 2024

Sales Grow 15 Percent, Bukit Asam (PTBA) Achieves Net Profit of IDR
2.03 Trillion in First Half of 2024

Jakarta, August 2 2024 - PT Bukit Asam Tbk (PTBA), a member of the MIND
ID Mining BUMN Holding, succeeded in maintaining good performance in the
first semester of 2024.

In the first 6 months of 2024, the Company managed to record revenue of IDR
19.64 trilllon and EBITDA of IDR 3.63 trillion. After deducting costs, PTBA
posted anet profit of IDR 2.03 trillion. The company's total assets as of June
30, 2024 were IDR 38.39 trillion.

On a guarter to guarter basis, PTBA's financial performance has increased
significantly. Revenue in Guarter II 2024 was IDR 10.23 trillion, up 9 percent
compared to Auarter I 2024. Net profit in @uarter II 2024 reached IDR 1.24
trillion, growing 57 percent guarterly.

The achievement of net profit was supported by an increase in the Company's
operational performance throughout the first semester of 2024. PTBA's total
coal sales in January-June this year reached 20.05 million tons, an increase of
15 percent annually (year on year). PTBA's coal exports in this period amounted
to 8.48 million tons, an increase of 20 percent annually (year on year). In
comparison, export sales in the first semester of 2023 amounted to 7.10 million
tons.

Meanmhile, the realization of Domestic Market Obligation (DMO) was 11.57
million tons, growing 12 percent compared to the first semester of 2023, which
amounted to 10.33 million tons. As for first semester of 2024, PTBA's coal
production reached 18.76 million tons and the realization of transportation by
train was 17.33 million tons.

Challenges for the Company this year include corrections in coal prices and
market fluctuations. The average ICI-3 coal price index was corrected by
around 19 percent on an annual basis from USD 93.49 per ton in first semester
of 2023 to USD 75.89 perton in first semester of 2024. Meanwhile, the average
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Newcastle coal price index was corrected by 36 percent on an annual basis to
USD 130.66 per ton, from USD 204.27 per ton in first semester of 2023.

Therefore, PTBA continues to strive to maximize domestic market potential and
export opportunities to maintain good performance. The Company also
consistently prioritizes cost leadership in every line of the company so that the
implementation of sustainable efficiency can be carried out optimally.

Apart from that, the Company hopes that the formation of a Management
Agency Partner (MIP) can be realized soon and will have a good impact on
PTBA's financial performance.

Development Project Progress

Coal Downstreaming

PTBA, in collaboration with the National Research and Innovation Agency
(BRIN), started a pilot project to convert coal into Artificial Graphite and Anode
Sheet as raw materials for Lithium-ion (Li-ion) batteries. The soft launch of the
pilot project took place in the Tanjung Enim Industrial Area on July 15, 2024.

This pilot project for converting coal into Artificial Graphite and Anode Sheet
is the first in the world, so it could be an important breakthrough in coal
downstreaming.

The development of coal into Artificial Graphite and Anode Sheet is a form of
PTBA's commitment to supporting government policies that encourage
downstream coal, maintain national energy security, and support the progress
of the domestic electric vehicle industry.

Development of Renewable Energy

Globally, energy transitions are occurring. The government has set a target of
Net Zero Emission by 2060. PTBA also aspires to become a global energy
company that cares for the environment. Thus, business diversification into the
emerging and new energy sector (EBT) is carried out.

As of right now, Perseroan has built PLTS in Soekarno-Hatta Sguare in
collaboration with PT Angkasa Pura II (Persero), which has been operating
since October 2020. The aforementioned PLTS is located in the Gedung Airport
Operation Control Center (AOCC) and has a maximum capacity of 241 kWp.

In addition to Angkasa Pura II, PTBA collaborates with Jasa Marga Group on
PLTS development in the tol. The 400 kWp PLTS located on Jalan Tol Bali-
Mandara was successfully built and installed on September 21, 2022. The
company is also collaborating with PT Semen Baturaja Tbk (SMBR) in the
construction of PLTS with a capacity of 23.07 kWp which reach the COD stage
in June 2023.

PTBA is currently also exploring opportunities to develop hydrogen-based EBT,
both for its own needs and to support strengthening the need for partnerships
in PTBA's transportation and production business chain system in the future.
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Transportation of Coal Project

Inan effort to enhance the capacity of coal transportation via the Tanjung Enim
- Keramasan railway line, PTBA has begun building a new coal handling facility.
On December 30, 2023, a historic procession was held in Tanjung Enim to
commemorate this.

The building of this facility isa component of PTBA's partnership with PT Kereta
Api Indonesia (Persero), also known as KAI, to develop 20 million tons of annual
capacity coal transportation on the Tanjung Enim - Keramasan link. While PT
Kereta Api Logistik (Kalog) constructed the dock facilities in Keramasan, PT
KAI prepared the infrastructure and facilities for the rail transportation mode.

Carbont Management

Good Mining Practices are implemented by PTBA in conjunction with
decarbonization programs to assist the Government in reaching the Net Zero
Emission target by 2060.

Operationally, the company uses Eco Mechanized Mining, which substitutes
electricity for fossil fuel-powered mining eguipment. A 100-ton class hybrid
diesel and electric dump truck, an electric mining pump, and a PC-3000 shovel
electric excavator are a few of the electricity-powered eguipment that PTBA
has utilized. Additionally, PTBA has run electric buses at Tanjung Enim Mining
Unit and Tarahan Port.

In addition, the company uses the E-Mining Reporting System, an online real-
time production reporting system, to reduce the amount of fuel used for
traditional monitoring. The carbon management roadmap for PTBA through
2060 includes these decarbonization initiatives, which will be developed and
implemented sustainably across the board in order to achieve the best possible
outcomes for all business divisions.

For more information, please contact:

Niko Chandra

Corporate Secretary

PT Bukit Asam Tbk
nchandra@bukitasam.co.id

www.ptba.co.id

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Published2 Aug 2024
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Names mentioned 8 people and organisations named in the text · linked when the evidence is strong

linked org BUKIT ASAM TBK p.1 ×15
linked person Niko Chandra p.1 ×2
linked org PT Angkasa Pura II (Persero) p.2 ×2
linked org Jasa Marga p.2
linked org Semen Baturaja Tbk p.2 ×2
unresolved org PT Kereta Api Logistik p.3
unresolved org PT KAI p.3

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