ITMG Records Revenue of USD 498 Million in Q1 2026

Jakarta (ANTARA) - PT Indo Tambangraya Megah Tbk (stock code: ITMG) recorded revenue of USD 498 million in the first quarter of 2026, marking a 3% increase year-on-year (yoy) compared to the same period last year. As of the end of March 2026, coal sales volume stood at 6.3 million tonnes, up 6% (yoy), while the average selling price (ASP) declined by 3% (yoy). ITMG President Director Mulianto stated in a release received in Jakarta on Wednesday that the company’s coal production reached 4.7 million tonnes in the first three months of the year. This figure represents a decrease from 5.3 million tonnes in Q1 2025, in line with rainfall impacting production volume. On the other hand, total operating expenses were recorded at USD 56 million in Q1 2026, relatively stable compared to the previous year. Income tax expenses rose to USD 26 million in Q1 2026 from USD 19 million in Q1 2025. Royalties to the government increased by 9% (yoy) to USD 58 million in Q1 2026, primarily due to higher sales volume. As of 31 March 2026, total assets were USD 2,405 million, roughly the same as at the end of 2025. Cash and cash equivalents stood at USD 747 million, while short-term deposits reached USD 192 million, collectively representing 39% of total assets. At the same time, total liabilities decreased to USD 480 million at the end of March 2026 from USD 498 million at the end of 2025. This improvement was driven by an increase in retained earnings to USD 1,533 million from USD 1,478 million, although partially offset by the purchase of treasury shares worth USD 12 million in Q1 2026.