Cash profit from coal mining for 2021 averaged at US$25.05 per tonne, 4 times higher when compared to US$6.25 per tonne in 2020. The strong result was attributed to the higher average selling price (ASP) but was partly offset by the higher production cash cost as the Group’s cost structure links certain costs to the coal index prices.
The impact of the increasing coal index prices on the production cash cost was cushioned by the exclusion of 10% VAT due to changes in tax regulations following the passing of the Indonesian Omnibus Law in November 2020.
Geo Energy rewarded shareholders with a final dividend of 5 cents, after paying out an an interim dividend of 4 cents, taking dividend payout ratio to 52%.
Photo by Bence Balla-Schottner on Unsplash
