PTBA: Coal Player with a Solid Balance Sheet

PTBA (PTBA IJ): Strong Fundamentals at Indonesian Coal Miner

PTBA (PTBA IJ): Can Benefit from Selling Mainly to the Local Market

Ex - Analyst at PE and Indonesia Brokerage Firm

Surabhi Chopra

Equity Bottom-Up

Tambang Batubara Bukit Asam / Equity Bottom-Up

<a href="https://www.smartkarma.com/entities/1189" target="_blank" data-smartkarma-citation="entities:1189:1">Tambang Batubara Bukit Asam (PTBA IJ)</a> 1Q17 result:<ol>
<li>
Net profit above consensus: PTBA reported strong net profit growth of 162% yoy to reach IDR 871 bn in 1Q17, 30% of consensus estimates.</li>
<li>
Revenues: Grew by 28% yoy to reach IDR 4.5 tn about 25% of consensus estimates of IDR 18 tn.</li>
<li>
Operational: Sales volume reached 5.4mn tons in 1Q17 below the 27.3mn tons that management guided to. The ASP reported at Rp811k/ton (US$60/ton) up 20% yoy, while cash cost ex-royalties of IDR 494k/Ton (US$36/ton).</li>
</ol>Downside…

Tambang Batubara Bukit Asam (PTBA IJ) 1Q17 result:

Net profit above consensus: PTBA reported strong net profit growth of 162% yoy to reach IDR 871 bn in 1Q17, 30% of consensus estimates.

Revenues: Grew by 28% yoy to reach IDR 4.5 tn about 25% of consensus estimates of IDR 18 tn.

Operational: Sales volume reached 5.4mn tons in 1Q17 below the 27.3mn tons that management guided to. The ASP reported at Rp811k/ton (US$60/ton) up 20% yoy, while cash cost ex-royalties of IDR 494k/Ton (US$36/ton).
Downside…

Tambang Batubara Bukit Asam

PTBA : 1Q17 Results