PT Golden Eagle Energy Tbk (SMMT) targets an increase in coal sales by 15-20% in 2023. The increase in demand is expected to come from Asian markets. Meanwhile, this year's production target is expected to reach the target.

President Director of Golden Eagle Roza Permana Putra said that the company is optimistic about achieving the production target of 3 million tons of coal this year. This is supported by the success of producing 2.44 million tons until September 2022. Last year, the company's production volume was around 2.04 million tons.

"The company's coal production until September 2022 comes from 75% of mining business permits (IUP) in Sumatra. While the rest is from IUP in Kalimantan," said Roza in his statement, Friday (12/16/2022).

He said that the achievement of annual financial and operational performance in 2022 has exceeded the target set at the beginning of the year. From the financial side, sales and net profit have soared by 119% and 139%, respectively. As a result, the cash flow obtained from operating activities increased to Rp 285 billion.

Regarding capital expenditure (capex), he said, it was allocated IDR 25 billion in 2023. The capex figure is greater, compared to the previous year.

Image source: PT Golden Eagle Energy Tbk.

Source: https://investor.id/market-and-corporate/316621/golden-eagle-smmt-bidik-kenaikan-volume-penjualan-20-di-2023