Bumi Resources records huges net loss of US$2.18b in 2015

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JAKARTA (RAMBUENERGY.com) – Giant coal producer owned by Bakrie Group PT Bumi Resources posted net loss of US$2.18 billion in 2015 or equals to Rp28.34 trillion, compared to net loss of US$448.4 million in previous year.

Its debts stood at US$4.19 billion at end 2015, in which short-term debts stood at US$220.78 million. US$3.6 billions are considered long-term debts.

Its liabilities stood at US$6.19 billion, up from US$5.34 billion in previous year, in which US$5.47 billion were short-term liabilities.

As of end 2015, the company’s assets stood at US$3.39 billion, declined by 26 percent from US$4.6 billion in previous year.

The fall of coal has pushed down the company’s revenues. Last year, the company posted revenues of US$40.5 million, down from US$61.92 million.

Director and Corporate Secretary of Bumi Resources targets coal production at 85 millon tons in 2016, up 2.4 percent from 83 million tons last year. (*)