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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 2021 IDRUSD
Revenue29,261.46B2,046.99M
Gross Profit13,170.86B921.36M
Operating income10,085.08B705.50M
Income before tax10,358.67B724.64M
Net income7,909.11B553.28M
EBITDA11,374.48B795.70M
Diluted EPS688.510.04
Dividends Per Share688.510.04
Total Assets36,123.70B2,534.55M
Total liabilities11,869.97B832.83M
Total equity24,059.66B1,688.10M
Operating cash flow10,795.07B755.17M
Currency in IDRCurrency in USD

Historical Data

 Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021
Revenue 19,471.03B 21,166.99B 21,787.56B 17,325.19B 29,261.46B
Gross Profit 8,327.66B 8,371.69B 7,440.39B 4,316.54B 13,170.86B
Operating income 6,287.34B 6,190.30B 5,083.97B 2,592.41B 10,085.08B
Income before tax 6,067.78B 6,799.05B 5,455.16B 3,231.68B 10,358.67B
Net income 4,476.44B 5,023.94B 4,056.88B 2,386.81B 7,909.11B
EBITDA 7,030.84B 6,952.52B 5,875.89B 3,670.16B 11,374.48B
Diluted EPS 425 476.63 362.53 213.41 688.51
Dividends Per Share 318.52 339.63 326.46 74.69 688.51
Total Assets 21,987.48B 24,172.93B 26,098.05B 24,056.75B 36,123.70B
Total liabilities 8,187.49B 7,903.23B 7,675.22B 7,117.55B 11,869.97B
Total equity 13,608.09B 16,015.16B 18,258.27B 16,763.40B 24,059.66B
Operating cash flow 2,415.44B 7,867.78B 4,296.47B 3,513.62B 10,795.07B
 Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021
Revenue 1,455.03M 1,486.78M 1,540.67M 1,191.41M 2,046.99M
Gross Profit 622.31M 588.03M 526.13M 296.83M 921.36M
Operating income 469.84M 434.81M 359.50M 178.27M 705.50M
Income before tax 453.43M 477.56M 385.75M 222.23M 724.64M
Net income 334.51M 352.88M 286.87M 164.13M 553.28M
EBITDA 525.40M 488.34M 415.50M 252.38M 795.70M
Diluted EPS 0.03 0.03 0.02 0.01 0.04
Dividends Per Share 0.02 0.02 0.02 0.00 0.04
Total Assets 1,620.59M 1,681.01M 1,879.92M 1,712.22M 2,534.55M
Total liabilities 603.46M 549.59M 552.87M 506.58M 832.83M
Total equity 1,002.99M 1,113.71M 1,315.20M 1,193.12M 1,688.10M
Operating cash flow 180.50M 552.63M 303.81M 241.62M 755.17M

Valuation Measures

Dec 2021
PER3.93
ROA26.28%
ROE38.74%
Operating margin34.46%
Profit margin27.02%

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%)
  • The Vanguard Group, Inc. (1.0%)
  • Dimensional Fund Advisors LP (0.6%)
  • BlackRock Fund Advisors (0.5%)
  • PT Indo Premier Securities (Investment Management) (0.3%)
  • PT Bukit Asam Tbk (0.2%)
  • Bankinter Gestion de Activos SA SGIIC (0.2%)
  • FIL Investment Management (Singapore) Ltd. (0.1%)
  • Mellon Investments Corp. (0.1%)
  • Jennison Associates LLC (0.0%)

Contact Details

Related Companies

  • PT Bukit Asam Metana Ombilin
  • PT Bukit Asam Metana Enim
  • PT Bukit Energi Metana
  • PT Bukit Energi Investama
  • PT Batubara Bukit Kendi
  • PT Internasional Prima Coal
  • PT Bukit Asam Banko
  • PT Bukit Asam Prima
  • PT Bukit Multi Investama
  • Bukit Asam Pension Fund
  • PT International Prima Coal

Competitors

  • PT Adaro Energy Indonesia Tbk
  • PT Indika Energy Tbk
  • PT Bayan Resources Tbk
  • PT Indo Tambangraya Megah Tbk
  • PT Bumi Resources Tbk Class A
  • Golden Energy & Resources Limited
  • Banpu Public Co. Ltd.
Last Updated on 26 Sep, 2022

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