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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 in 1919 and is headquartered in Tanjung Enim, Indonesia.

Financial Highlights

Dec 2020 IDRUSD
Revenue17,325.19B1,191.41M
Gross Profit4,316.54B296.83M
Operating income2,592.41B178.27M
Income before tax3,231.68B222.23M
Net income2,386.81B164.13M
EBITDA3,670.16B252.38M
Diluted EPS213.410.01
Dividends Per Share74.690.00
Total Assets24,056.75B1,712.22M
Total liabilities7,117.55B506.58M
Total equity16,763.40B1,193.12M
Operating cash flow3,513.62B241.62M
Currency in IDRCurrency in USD

Historical Data

 Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020
Revenue 14,058.86B 19,471.03B 21,166.99B 21,787.56B 17,325.19B
Gross Profit 4,226.22B 8,327.66B 8,371.69B 7,440.39B 4,316.54B
Operating income 2,508.94B 6,287.34B 6,190.30B 5,083.97B 2,592.41B
Income before tax 2,696.91B 6,067.78B 6,799.05B 5,455.16B 3,231.68B
Net income 2,006.18B 4,476.44B 5,023.94B 4,056.88B 2,386.81B
EBITDA 2,950.34B 7,030.84B 6,952.52B 5,875.89B 3,670.16B
Diluted EPS 190.40 425 476.63 362.53 213.41
Dividends Per Share 57.10 318.52 339.63 326.46 74.69
Total Assets 18,867.50B 21,987.48B 24,172.93B 26,098.05B 24,056.75B
Total liabilities 8,315.09B 8,187.49B 7,903.23B 7,675.22B 7,117.55B
Total equity 10,421.33B 13,608.09B 16,015.16B 18,258.27B 16,763.40B
Operating cash flow 1,928.34B 2,415.44B 7,867.78B 4,296.47B 3,513.62B
 Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020
Revenue 1,057.02M 1,455.03M 1,486.78M 1,540.67M 1,191.41M
Gross Profit 317.75M 622.31M 588.03M 526.13M 296.83M
Operating income 188.63M 469.84M 434.81M 359.50M 178.27M
Income before tax 202.76M 453.43M 477.56M 385.75M 222.23M
Net income 150.83M 334.51M 352.88M 286.87M 164.13M
EBITDA 221.82M 525.40M 488.34M 415.50M 252.38M
Diluted EPS 0.01 0.03 0.03 0.02 0.01
Dividends Per Share 0.00 0.02 0.02 0.02 0.00
Total Assets 1,400.44M 1,620.59M 1,681.01M 1,879.92M 1,712.22M
Total liabilities 617.19M 603.46M 549.59M 552.87M 506.58M
Total equity 773.52M 1,002.99M 1,113.71M 1,315.20M 1,193.12M
Operating cash flow 144.98M 180.50M 552.63M 303.81M 241.62M

Valuation Measures

Dec 2020
PER13.16
ROA9.51%
ROE13.63%
Operating margin14.96%
Profit margin13.77%

Key executives

  • President Director: Suryo Eko Hadianto
  • Director-Operations & Production: Suhedi
  • Director-Finance & Risk Management: Farida Thamrin
  • Senior Manager-Information Technology: Satria Wirawan
  • Senior Manager-Strategy, R&D, Exploration: Nicko Albart

Shareholders

  • Government of Indonesia (65.9%)
  • PT Bukit Asam Tbk (2.9%)
  • BlackRock Fund Advisors (1.2%)
  • The Vanguard Group, Inc. (1.0%)
  • Dimensional Fund Advisors LP (0.6%)
  • BlackRock Advisors (UK) Ltd. (0.5%)
  • Bankinter Gestion de Activos SA SGIIC (0.5%)
  • PT Indo Premier Securities (Investment Management) (0.3%)
  • Grantham, Mayo, Van Otterloo & Co. LLC (0.2%)
  • Robeco Institutional Asset Management BV (0.2%)

Contact Details

Related Companies

  • PT Bukit Energy Investama
  • 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 3 Aug, 2021

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