ITMG – Optimistic on high coal demand in 2H24

ITMG – Optimistic on high coal demand in 2H24 Indo Tambangraya Megah (ITMG) is optimistic that coal demand will remain high in 2H24, especially demand from China, India and other countries in Southeast Asia. ITMG will also optimize cost efficiency and tool management, which is expected to support an increase in production volume. Until 1H24, ITMG recorded a coal production volume of 9.3 mn tons (+14% yoy) and coal sales volume of 10.8 mn tons (+9% yoy). Moreover, ITMG posted revenue of USD1.04 bn (-19.22% yoy) and net profit of USD129.07 mn (-57.95% yoy) in 1H24 due to a decrease in ASP of 27% yoy. (Source : Bisnis Indonesia)