JAKARTA – PT Bayan Resources Tbk (BYAN) recorded net profit of USD 2.30 billion in 2022, increasing 81.89% year-on-year (yoy) or USD 1,26 billion higher than net profit in 2021. This number resulted from increased coal prices, which also drove revenue upward.

In the 2022 Financial Report published Friday (10/3), BYAN’s revenue in 2022 is said to reach USD 4.70 billion, increasing 64.90% yoy from USD 2.85 billion in 2021. The gross profit and the profit before taxes both increased from USD 1.74 billion and USD 1.62 billion in 2021 to USD 3.16 billion and USD 2.94 billion in 2022, respectively.

The revenue in 2022 consisted of coals sales worth USD 4.69 billion and non-coals sales of USD 10.85 million. The coals were exported to third parties, mostly to China National Machinery Import and Export Sdn Bhd, generating USD 577.63 million and TNB Fuel Service Sdn Bhd that brought in USD 319.23 million. Then, exports to other parties made up less than 10% of the total revenue, amounting to USD 3.12 billion.

The current year’s profit attributable to the parent entity clocked up to USD 2,17 billion in 2022, shifting 79.70% yoy to USD 1.21 billion. Then, the profit for non-controlling shareholders in 2022 arrived at USD 123 million, soaring 131.47% yoy from USD 53.19 million in 2021. (LK/ZH)