Indo Tambangraya targets coal sales of 26.5 million tons this year

CORPORATE ACTION - JAKARTA. PT Indo Tambangraya Megah Tbk (ITMG, member of Kompas100 index) targets coal production of 23.6 million tons with a sales target of 26.5 million tons in 2019.

Indo Tambangraya Megah Investor Relations Director Yulius Gozali said, in the first quarter of this year, coal production was estimated to reach 5 million tons. He said the obstacles during the first quarter of 2019 were more on rainfall which tended to be high.

"This is our main challenge in pursuing production at the beginning of the year. Production is usually driven in the second half of this year or during the dry season," he said to Kontan.co.id, Friday (3/22).

By maximizing production, Indo Tambangraya hopes that financial performance will also increase. Unfortunately, Yulius was reluctant to mention the revenue target for this year. Because coal prices still fluctuate.

Last year, Indo Tambangraya recorded revenue of $ 2 billion, up 18.34% from 2017 which was valued at $ 1.69 billion.

To support performance, Indo Tambangraya prepared a capital expenditure of $ 122 million this year, up from $ 107.1 million in 2018.

This year, Indo Tambangraya will add new customers, especially from the Southeast Asia region. "In terms of marketing, we are looking for new customers in Southeast Asia, such as Vietnam and Myanmar, and markets in other countries that are growing," Yulius said.