JAKARTA – PT Bayan Resources Tbk (BYAN) posted net profit of USD 767.9 million in 2025, down 16.8%, as coal selling prices weakened significantly throughout the year.

Revenue was also relatively stagnant, slipping 0.6% to USD 3.4 billion, despite a 26% increase in coal sales volume to 70.8 million metric tonnes (MT) and a 19.5% rise in production to 68 million MT.

According to the company’s presentation, lower selling prices, which remain a key challenge for the coal industry, weighed on performance. BYAN reported that its average selling price (ASP) fell 21% to USD 48 per MT in 2025.

Although cash costs were reduced by 14% to USD 32.5 per MT, alongside efficiencies in several expense items, BYAN’s profit margin narrowed to 22.9% in 2025 from 27.4% a year earlier.

In 2025, export markets accounted for the bulk of sales, contributing 80.3%, led by East Asia, Southeast Asia (ex-Indonesia), South Asia and Europe. The domestic market contributed the remaining 19.7%, or USD 676.1 million.

For 2026, BYAN projects revenue of USD 1.8 billion–3.8 billion, assuming coal ASP in the range of USD 46–48 per MT. (ZH)