Bakrie and Salim Mining Issuer's Profit Jumps 87%, H. Isam's Receivables Soar Tenfold

Jakarta, CNBC Indonesia - Coal and mineral mining issuer of the Bakrie and Salim Groups, PT Bumi Resources Tbk. (BUMI), posted a net profit attributable to owners of the parent entity of US$58.85 million, soaring 188.4% compared to the same period last year of US$20.41 million in the first half of 2026. Meanwhile, BUMI’s consolidated net profit rose 87.4% to US$72.27 million from US$38.55 million.

Examining its financial report, the profit increase was supported by revenue growth of 27.9% to US$866.75 million from US$677.93 million in the first half of 2025. The largest revenue came from coal sales amounting to US$762.39 million, followed by gold at US$95.91 million. Cost of revenue also increased to US$720.84 million from US$570.90 million a year earlier.

Operating profit rose to US$83.13 million from US$55.30 million, while the contribution of profit from associates and joint ventures nearly tripled to US$43.85 million.

On the balance sheet side, BUMI’s trade receivables from PT Jhonlin Group, a business entity owned by Haji Isam, surged drastically. As of the end of June 2026, receivables from this customer reached US$153.52 million, soaring approximately 10.9 times compared to the position at the end of 2025, which was US$14.06 million.

The increase in receivables is in line with Jhonlin’s significant contribution to BUMI’s sales during the first six months of this year. In the notes to the financial statements, PT Jhonlin Group was recorded as the second-largest customer with a transaction value reaching US$164 million, a sharp increase from US$44.75 million in the first half of 2025.

Beyond sales, the Jhonlin Group is also one of BUMI’s main suppliers. It was recorded that PT Jhonlin Baratama booked transactions worth US$125.44 million from BUMI’s total cost of revenue during the first half of 2026.

However, on the liability side, BUMI’s other payables to PT Jhonlin Group actually decreased. The balance of other payables to Jhonlin fell to US$24.68 million as of June 2026 from US$34.38 million at the end of 2025. It was explained that this balance represents an advance from PT Jhonlin Group which will be settled through deductions of a certain amount for every metric ton of coal sold.

Overall, BUMI’s total assets grew to US$4.59 billion at the end of June 2026 from US$4.22 billion at the end of 2025. Cash and cash equivalents also increased to US$179.69 million from US$118.59 million, while retained earnings rose to US$139.86 million from US$81.01 million at the end of last year.