ITMG posts net profit of 110 million US dollars in first half of 2026

PT Indo Tambangraya Megah Tbk (ITMG) recorded a net profit of 110 million US dollars in the first half of 2026. Profit for the period attributable to owners of the parent entity was recorded at 106 million US dollars. The company also posted revenue of 1 billion US dollars, an increase of 9 percent year-on-year (yoy).

“The increase in revenue was supported by a 5 percent rise in sales volume and a 4 percent increase in ASP year-on-year. The increase in ASP is in line with the strengthening coal reference price,” said ITMG President Director Mulianto in a statement in Jakarta on Wednesday.

On the operational side, ITMG recorded a 13 percent increase in coal production in the second quarter of 2026 compared to the previous quarter, with production volume reaching 5.3 million tonnes. Thus, total coal production during the first half of 2026 reached 9.9 million tonnes, slightly lower than the 10.4 million tonnes in the same period the previous year.

Meanwhile, the increase in sales volume and ASP drove the company’s revenue growth of 9 percent year-on-year. On the expense side, cost of revenue increased by 7 percent in the first half of 2026.

“Cost of revenue increased by 7 percent in the first half of 2026, mainly due to higher mining and coal transportation costs caused by a higher stripping ratio and increased fuel costs following the rise in global oil prices during the period,” he said.

Selling expenses also increased from 81 million US dollars to 88 million US dollars, in line with the increase in sales volume. Meanwhile, general and administrative expenses were recorded at 26 million US dollars. Thus, the company’s total operating expenses reached 114 million US dollars in the first half of 2026.

Furthermore, ITMG also recorded finance income of 18 million US dollars, slightly down from 21 million US dollars in the first half of 2025. On the other hand, finance costs fell 32 percent year-on-year from 6 million US dollars to 4 million US dollars.

Income tax expense increased to 49 million US dollars in the first half of 2026 from 43 million US dollars in the first half of 2025, in line with the increase in profit before income tax. Meanwhile, royalty payments to the government increased 7 percent year-on-year to 111 million US dollars, mainly due to the increase in sales volume. As of 30 June 2026, ITMG’s total assets were recorded at 2,417 million US dollars.