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PTBA – FY2020 Result Below Expectations

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  • Recent Posts
Maryoki Pajri
Maryoki Pajri
Analyst - Mining, Basic Ind., Agri.
Maryoki Pajri
Latest posts by Maryoki Pajri (see all)
  • PTBA – FY2020 Result Below Expectations - March 22, 2021
  • UNTR – Lower Sales Volume in 2020 - March 15, 2021
  • AALI – Higher ASP Boosts Performance - March 4, 2021

In 2020, PTBA managed to record a top line of IDR17.3 trillion or down by 20.5% YoY and 2.7% below our expectations. It resulted in bottom line of IDR2.4 trillion, or decline significantly by 41.2% YoY driven by decrease in ASP and lower coal production. We upgrade recommendation to BUY with higher Target Price at IDR3,280.

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