Bumi Resources (BUMI) Profit Rises 35% to US$24.14 Million

PT Bumi Resources Tbk (BUMI) recorded a net profit attributable to owners of the parent entity for the first quarter of this year amounting to US$24.14 million. This figure represents a 35.16% increase from the first quarter of the previous year, which stood at US$17.86 million.

According to its financial report submitted via disclosures to the Indonesia Stock Exchange (BEI), this profit stemmed from first-quarter revenue that rose from US$348.7 million to US$417.6 million.

The cost of revenue also increased from US$297.5 million to US$334.8 million. As a result, gross profit also rose from US$51.2 million to US$82.8 million.

Additionally, after deducting operating expenses for BUMI in the first quarter, which rose from US$23.3 million to US$33.7 million, the company’s operating profit increased from US$27.9 million to US$49.05 million.

Furthermore, after subtracting profit after income tax, which rose from US$30.81 million to US$43.6 million, and profit sharing of US$2.5 million, BUMI’s net profit for the period increased from US$30 million to US$41.09 million.

“The increase in production and sales volumes, combined with significant improvements in the strip ratio, successfully compensated for the 10% decline in average coal selling prices, thereby driving margin expansion and higher profitability across all business lines,” stated BUMI Director Christopher Fong.

He added that this financial performance reflects the operating leverage inherent in Bumi Resources’ business model. Margin expansion was supported by increased coal production and sales volumes, as well as structural improvements in the strip ratio, which enhanced the economics per tonne across the company’s main mining operations.

Bumi Resources will continue to focus on sustaining the operational improvements achieved in the first quarter, maintaining capital allocation discipline, and advancing diversification strategies to build resilience against commodity cycles,” he said.

BUMI’s assets as of the first quarter of this year totalled US$4.46 billion, up from US$4.21 billion at the end of the previous year.