|
Coal Average Selling Price Increase ITMG reported a steep decline in both top and bottom line in 3Q23 as revenues fell 55% YoY (IDR 8.03 trillion vs IDR 17.84 trillion) while net profit fell 77% YoY (IDR 1.51 trillion vs IDR 6.47 trillion). This is caused by a 53% YoY slide in ASP (USD 210.5 vs USD 98.7) as global coal prices continue to fall. Gross and net profit margins also fell to 29% and 19% YoY from 55% and 36% respectively. However, the company can find some respite in their cost control measures as cash cost per ton fell 26% YoY despite uncertainty in fuel prices and other economics variables. Asset Growth ITMG reported a steep decline in both top and bottom line in 3Q23 as revenues fell 55% YoY (IDR 8.03 trillion vs IDR 17.84 trillion) while net profit fell 77% YoY (IDR 1.51 trillion vs IDR 6.47 trillion). |
Download full report HERE.
