Indo Tambangraya records net profit of USD 190.94 million in 2025

PT Indo Tambangraya Megah Tbk (ITMG) recorded profit attributable to the parent entity of USD 190.94 million in 2025, declining 48.96 per cent year-on-year compared with USD 374.12 million in 2024.

The decline in net profit was accompanied by a 18 per cent year-on-year drop in revenue to USD 1,881 million in 2025, from USD 2,304 million in 2024. The lower revenue was primarily caused by a 20 per cent decline in average selling price (ASP) in line with falling benchmark coal prices, said ITMG President Director Mulianto.

In line with the revenue decline, the company’s cost of revenue fell 13 per cent year-on-year to USD 1,398 million in 2025, from USD 1,606 million in 2024. The cost reduction reflected declines in mining costs, depreciation of fixed assets, and fuel and oil expenses, Mulianto added.

Selling expenses declined 4 per cent year-on-year to USD 171 million, whilst general and administrative expenses increased 21 per cent to USD 45 million, resulting in total operating expenses of USD 216 million in 2025. Income tax expense totalled USD 93 million in 2025, down 22 per cent year-on-year from USD 119 million in 2024, whilst royalties fell 15 per cent to USD 220 million in 2025.

Coal sales volume for 2025 reached 24.7 million tonnes, up marginally 3 per cent year-on-year from 24.0 million tonnes in 2024. At an extraordinary general meeting of shareholders on 3 November 2025, shareholders approved a share buyback programme for one year with a maximum of 113 million shares (10 per cent of outstanding shares) and a maximum allocation of IDR 2.5 trillion. As of 31 December 2025, the company had repurchased 6 million shares, representing 0.5 per cent of outstanding shares.

Mulianto said the buyback programme reflected confidence in the company’s fundamental value and long-term prospects, and aimed to deliver better returns to shareholders. As at 31 December 2025, total assets stood at USD 2,406 million, with cash and cash equivalents of USD 808 million (34 per cent of total assets), total liabilities of USD 498 million, and total equity of USD 1,908 million.