Coal Average Selling Price Increase

PT Indo Tambangraya Megah (ITMG) recorded a 35% YoY decline in revenue (IDR 36.1 trillion vs IDR 54.3 trillion) for FY23 due to a steep 41% YoY fall in ASP (USD 113/ton vs USD 192/ton).
This is in line with the overall decrease in global coal prices across all caloric values. However, the company’s increased operational efficiency helped reduce the impact of the slip in ASP. Cost of revenue fell by 6% YoY (IDR 24.9 trillion vs IDR 26.0 trillion) arising from lower royalty fees, while operating expenses decreased by 35% YoY (IDR 2.1 trillion vs IDR 3.2 trillion).

Asset Growth

PT Indo Tambangraya Megah (ITMG) recorded a 35% YoY decline in revenue (IDR 36.1 trillion vs IDR 54.3 trillion) for FY23 due to a steep 41% YoY fall in ASP (USD 113/ton vs USD 192/ton).

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