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Energy Minerals

PT Bukit Asam Tbk

Company Background

State-owned Bukit Asam is a major coal mining company in Indonesia. It owns a large coal mine in South Sumatra that covers more than 70% of its total mining area. It produced 15 million tons of coal in 2013 and aims to produce 50 million tons by 2017. The Indonesian government owns 65% of its shares.

 

Chairman Agus Suhartono was appointed in 2013 after serving as commander-in-chief of the Indonesian National Army, the country's highest military position. Milawarma M.Eng, who was previously the company's director of operation and production, became president in 2011.

 

In the face of a prolonged decline in coal prices, Tambang Batubara Bukit Asam plans to invest in several power plant projects and supply coal to them. It has joined forces with overseas power generators such as Malaysia's Tenaga Nasional and China Huadian on several projects in Indonesia. Tambang Batubara Bukit Asam also plans to build power plants in Vietnam and Myanmar.

Business Summary

PT Bukit Asam Tbk engages in the mining, processing, and trading of coal. It operates through Coal Mining and Other segments. The Coal Mining segment include general surveying, exploration, exploitation, processing, refining, transportation and trading, and maintenance of special coal port facilities. The Other segment comprises mining services, briquette processing, palm plantation, and palm processing and health service. The company was founded on March 2, 1981 and is headquartered in Tanjung Enim, Indonesia.

Financial Highlights

Dec 2019 IDRUSD
Revenue21,787.56B1,540.67M
Gross Profit7,440.39B526.13M
Operating income5,083.97B359.50M
Income before tax5,455.16B385.75M
Net income4,056.88B286.87M
EBITDA5,875.89B415.50M
Diluted EPS362.530.02
Dividends Per Share326.460.02
Total Assets26,098.05B1,879.92M
Total liabilities7,675.22B552.87M
Total equity18,258.27B1,315.20M
Operating cash flow4,296.47B303.81M
Currency in IDRCurrency in USD

Historical Data

 Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019
Revenue 13,733.62B 14,058.86B 19,471.03B 21,166.99B 21,787.56B
Gross Profit 3,993.78B 4,226.22B 8,327.66B 8,371.69B 7,440.39B
Operating income 2,416.25B 2,508.94B 6,287.34B 6,190.30B 5,083.97B
Income before tax 2,663.79B 2,696.91B 6,067.78B 6,799.05B 5,455.16B
Net income 2,035.91B 2,006.18B 4,476.44B 5,023.94B 4,056.88B
EBITDA 2,790.91B 2,950.34B 7,030.84B 6,952.52B 5,875.89B
Diluted EPS 188.20 190.40 425 476.63 362.53
Dividends Per Share 57.94 57.10 318.52 339.63 326.46
Total Assets 17,176.52B 18,867.50B 21,987.48B 24,172.93B 26,098.05B
Total liabilities 7,888.97B 8,315.09B 8,187.49B 7,903.23B 7,675.22B
Total equity 9,174.69B 10,421.33B 13,608.09B 16,015.16B 18,258.27B
Operating cash flow 1,897.77B 1,928.34B 2,415.44B 7,867.78B 4,296.47B
 Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019
Revenue 1,025.10M 1,057.02M 1,455.03M 1,486.78M 1,540.67M
Gross Profit 298.10M 317.75M 622.31M 588.03M 526.13M
Operating income 180.35M 188.63M 469.84M 434.81M 359.50M
Income before tax 198.83M 202.76M 453.43M 477.56M 385.75M
Net income 151.96M 150.83M 334.51M 352.88M 286.87M
EBITDA 208.32M 221.82M 525.40M 488.34M 415.50M
Diluted EPS 0.01 0.01 0.03 0.03 0.02
Dividends Per Share 0.00 0.00 0.02 0.02 0.02
Total Assets 1,246.03M 1,400.44M 1,620.59M 1,681.01M 1,879.92M
Total liabilities 572.28M 617.19M 603.46M 549.59M 552.87M
Total equity 665.55M 773.52M 1,002.99M 1,113.71M 1,315.20M
Operating cash flow 141.65M 144.98M 180.50M 552.63M 303.81M

Valuation Measures

Dec 2019
PER7.33
ROA16.14%
ROE23.67%
Operating margin23.33%
Profit margin18.62%

Key executives

  • President Director: H. Arviyan Arifin
  • Finance Director: Mega Satria
  • Senior Manager-Information Technology: Satria Wirawan
  • Senior Manager-Strategy, R&D, Exploration: Nicko Albart
  • Director-Business Development: Fuad Iskandar Zulkarnain Fachroeddin

Shareholders

  • Government of Indonesia (65.9%)
  • PT Bukit Asam Tbk (3.4%)
  • The Vanguard Group, Inc. (1.2%)
  • State of South Sumatra (0.9%)
  • BlackRock Fund Advisors (0.9%)
  • Dimensional Fund Advisors LP (0.7%)
  • Mellon Investments Corp. (0.5%)
  • Eastspring Investments (Singapore) Ltd. (0.4%)
  • BlackRock Advisors (UK) Ltd. (0.3%)
  • PT United Tractors Tbk (0.3%)

Contact Details

Related Companies

  • PT Batubara Bukit Kendi
  • PT Bukit Asam Prima
  • PT Bukit Multi Investama
  • Bumi Sawindo Permai PT
  • Bukit Asam Pension Fund
  • PT International Prima Coal

Competitors

  • PT Adaro Energy Tbk
  • PT Indika Energy Tbk
  • PT Bayan Resources Tbk
  • PT Bumi Resources Tbk Class A
  • PT Indo Tambangraya Megah Tbk
  • Golden Energy & Resources Limited
  • Banpu Public Co. Ltd.
Last Updated on 10 Jul, 2020

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