PTBA Records Profit of Rp 2.93 Trillion Amid Plummeting Coal Prices
PT Bukit Asam Tbk (PTBA) recorded a net profit of Rp 2.93 trillion for the 2025 fiscal year amid pressures from the global decline in coal prices. The mining company, a member of the MIND ID Group, maintained growth in operational performance through increases in production, sales, and transportation volumes.
PTBA reported coal production of 47.2 million tonnes, a 9% rise from the previous year. Sales also increased by 6% to 45.4 million tonnes, while transportation volume grew 6% from 38.2 million tonnes to 40.4 million tonnes in 2025.
“PT Bukit Asam, in that situation and condition, was able to maintain solid operational performance and demonstrate strong resilience,” said PTBA President Director Arsal Ismail during a press conference in Jakarta on Monday (6/4/2026).
Arsal stated that 2025 was a challenging period for the global coal industry. That pressure, he explained, was primarily triggered by the weakening of the world benchmark coal price, which affected the company’s average selling price.
He explained that the Newcastle index experienced a significant decline, while the ICI 3 index, widely used by PTBA, also weakened annually. That condition became one of the factors pressuring the company’s financial performance throughout the previous year.
“We remain focused on domestic needs at 54% and exports at 46%, which provide optimal contributions to margins,” Arsal said.
Amid price pressures, PTBA maintained a balanced market composition. As much as 54% of sales were allocated to the domestic market, while the remaining 46% were absorbed by export markets.
Arsal noted that domestic absorption is part of the company’s commitment to supporting national energy needs. PTBA, he said, not only pursues the commercial side but also ensures the continuity of domestic coal supply.
On the export side, PTBA began reducing reliance on traditional markets such as China and India. The company expanded its marketing to Bangladesh, Vietnam, South Korea, and the Philippines, and also began exploring the European market.
“But we have also developed to Bangladesh, to Vietnam, to South Korea, and the Philippines. And we also tried to Europe last year, to Spain and Romania,” Arsal said.
From a financial perspective, PTBA recorded an EBITDA of Rp 6.08 trillion with an EBITDA margin of around 14%. Operating cash flow also grew significantly by 24% to Rp 6.26 trillion, while total assets increased to Rp 43.92 trillion.
Rising costs were one of the challenges throughout 2025. Cost of goods sold rose 5%, driven by increases in operational costs, fuel costs, implementation of B40, and energy price adjustments.
To maintain competitiveness, PTBA implemented a cost leadership strategy through operational efficiency, supply chain optimisation, and selective mining. The company also realised capital expenditure or capex of Rp 4.55 trillion, mainly for building coal transportation infrastructure on the Tanjung Enim-Kramasan route.
“The company consistently implements a cost leadership strategy through operational efficiency, supply chain optimisation, and disciplined cost management through a selective mining strategy,” Arsal explained.
Entering 2026, PTBA welcomes positively the approval of the Work Plan and Budget (RKAB) that has been issued without a reduction in volume. The company targets production and sales of around 49.5 million tonnes this year, with hopes of breaking through 50 million tonnes.
The RKAB approval serves as initial capital for PTBA to continue growth amid global coal market dynamics. With operational fundamentals still intact, the company aims for more adaptive and sustainable performance in 2026.