Indonesia's state-owned coal company Bukit Asam (PTBA) released its Q1 2026 financial report, with net profit attributable to the parent company reaching IDR 801.7 billion, a sharp increase of 105% from IDR 391.4 billion in the same period of 2025, achieving a doubling of earnings. The President Director of PTBA stated that the high rainfall at the beginning of the year posed challenges to production, but the company managed to stabilize sales volume through prudent inventory management, adhered to cost efficiency controls and selective mining strategies, optimized its cost structure, and supported a substantial rise in profits.
Financial data shows that the company's operating revenue fell slightly in Q1, from IDR 9.95 trillion in the same period last year to IDR 9.92 trillion; however, operating costs decreased by 6%, from IDR 8.9 trillion to IDR 8.3 trillion. Driven by cost optimization, gross profit increased by 47% year-on-year, from IDR 1.47 trillion to IDR 1.5 trillion; operating profit surged 98%, from IDR 442.8 billion to IDR 868.02 billion.
In the current quarter, the company's operational scale contracted, with coal production down 22% year-on-year and transportation volume down 7%; the stripping ratio decreased from 6.42 times in the same period last year to 5.31 times, indicating a more rational mining structure. In terms of sales structure, as of the end of March 2026, domestic sales accounted for 53% and exports for 47%, with major export destinations including Vietnam, Bangladesh, India, Cambodia, and Thailand. Although overall sales volume was slightly down 1% year-on-year, coal price trends diverged: the Newcastle coal price index rose 14% year-on-year, while Indonesia's domestic ICI-3 index fell slightly by 2%, resulting in a marginal 1% increase in the company's average selling price year-on-year. Additionally, the company's operating expenses increased by IDR 61.37 billion, up 10%, mainly driven by higher operational costs.
In late February 2026, the geopolitical conflict in the Strait of Hormuz began to push up fuel prices. In the current quarter, the company's fuel costs rose 3% year-on-year, and further upward pressure on costs is expected for mine operations and railway coal transportation. As of March 31, 2026, the company's total assets stood at IDR 43.23 trillion, slightly down 2% from IDR 43.92 trillion at the end of 2025, mainly due to decreases in inventory, cash, and cash equivalents. In Q1, capital expenditure amounted to IDR 470 billion, primarily used for the construction of the coal transportation line from Tanjung Enim to Keramasan.
The company's corporate secretary stated that the outstanding Q1 performance demonstrates the solid operational foundation of the company, enabling it to withstand external uncertainties such as extreme weather and rising geopolitical tensions. PTBA remains optimistic about subsequent operations and will continue to maintain stable performance, creating long-term sustainable value for all stakeholders.
Indonesia's state-owned coal company Bukit Asam (PTBA) released its Q1 2026 financial report, with net profit attributable to the parent company reaching IDR 801.7 billion, a sharp increase of 105% from IDR 391.4 billion in the same period of 2025, achieving a doubling of earnings. The President Director of PTBA stated that the high rainfall at the beginning of the year posed challenges to production, but the company managed to stabilize sales volume through prudent inventory management, adhered to cost efficiency controls and selective mining strategies, optimized its cost structure, and supported a substantial rise in profits.
Financial data shows that the company's operating revenue fell slightly in Q1, from IDR 9.95 trillion in the same period last year to IDR 9.92 trillion; however, operating costs decreased by 6%, from IDR 8.9 trillion to IDR 8.3 trillion. Driven by cost optimization, gross profit increased by 47% year-on-year, from IDR 1.47 trillion to IDR 1.5 trillion; operating profit surged 98%, from IDR 442.8 billion to IDR 868.02 billion.
In the current quarter, the company's operational scale contracted, with coal production down 22% year-on-year and transportation volume down 7%; the stripping ratio decreased from 6.42 times in the same period last year to 5.31 times, indicating a more rational mining structure. In terms of sales structure, as of the end of March 2026, domestic sales accounted for 53% and exports for 47%, with major export destinations including Vietnam, Bangladesh, India, Cambodia, and Thailand. Although overall sales volume was slightly down 1% year-on-year, coal price trends diverged: the Newcastle coal price index rose 14% year-on-year, while Indonesia's domestic ICI-3 index fell slightly by 2%, resulting in a marginal 1% increase in the company's average selling price year-on-year. Additionally, the company's operating expenses increased by IDR 61.37 billion, up 10%, mainly driven by higher operational costs.
In late February 2026, the geopolitical conflict in the Strait of Hormuz began to push up fuel prices. In the current quarter, the company's fuel costs rose 3% year-on-year, and further upward pressure on costs is expected for mine operations and railway coal transportation. As of March 31, 2026, the company's total assets stood at IDR 43.23 trillion, slightly down 2% from IDR 43.92 trillion at the end of 2025, mainly due to decreases in inventory, cash, and cash equivalents. In Q1, capital expenditure amounted to IDR 470 billion, primarily used for the construction of the coal transportation line from Tanjung Enim to Keramasan.
The company's corporate secretary stated that the outstanding Q1 performance demonstrates the solid operational foundation of the company, enabling it to withstand external uncertainties such as extreme weather and rising geopolitical tensions. PTBA remains optimistic about subsequent operations and will continue to maintain stable performance, creating long-term sustainable value for all stakeholders.
