Indonesia’s PT Indo Tambangraya Megah (ITM) has reported an 19% increase in net revenue to USD 2.00 Billion in CY18 from USD 1.68 Billion in the previous year, the company said in a statement posted on its website.
ITM’s net profit increased to USD 263.94 Million last year from USD 249.61 Million in the previous year. While the cost of revenue rose to USD 1.42 Billion last year from USD 1.18 Billion in the previous year.
The filing did not include the company’s actual coal production last year. However, the company becomes the first Indonesian coal miners to announce its full-year financial results for 2018.
The company said in early January that its coal production target has been set between 23-23.5 MnT in CY19, a little higher than its 22.5 MnT of coal target in 2018, Kontan reported quoting Yulius Gozali, finance director of the company.
The company had set aside as much as USD 120 Million as capital expenditure this year, slightly higher than USD 107.1 Million it had allocated in 2018.
Indo Tambangaya operates six coal-mining concession areas in resource-rich Kalimantan island, according to the company’s website.
Leave a Reply