Agile in Overcoming Challenges, ABM Successfully Maintains Optimal Business Performance
Jakarta, 7 May 2021 - National integrated energy company PT ABM Investama Tbk. (IDX: ABMM) held the Annual General Meeting of Shareholders (AGMS) today. In general, ABM has succeeded in overcoming various obstacles that arise due to uncertainty in the midst of the pandemic during 2020, by relying on a solid foundation that has been built in the form of work ethic and competence in human resources, organizational flexibility, and adopted digital technology.
Andi Djajanegara as the President Director of ABM explained, regarding the performance in 2020, ABM succeeded in improving its operational performance. "Amid the global economic slowdown due to the COVID-19 pandemic, the company continues to grow operationally and is able to generate revenues of US $ 606.4 million, an increase of 2.36% from 2019, with an EBITDA of US $ 135.0 million. This increase came from an increase in the mining and coal mining contractor segment and other businesses, amounting to 7.76% and 13.75%, respectively, "said Andi.
As the global economy recovers, ABM is optimistic that in the future the trend in the mining sector, particularly coal, will continue to grow positively. Various strategies have been prepared to boost the Company's performance throughout 2021, starting from increasing synergy within the ABM Group, increasing operational volume and performance, conducting sustainable cost reviews, to exploring opportunities to increase coal reserves.
ABM as the holding company always encourages the optimization of the roles of each of its subsidiaries so as to increase the efficiency of operating costs and record profits for the Company. In addition, the company will also continue to strengthen the value chain and coal business ecosystem of the ABM Group, starting from the mining process to the trading process.
In order to increase synergy within the ABM Group, in the future CK will continue to focus on securing new long-term employment contracts (life of mine). Reswara, through Mifa and TIA, will expand its market share, both domestic and export. Meanwhile, CKB, as the PLB operator, has a license from the government and Authorized Economic Operator (AEO) Certification from the World Customs Organization. Then, SSB will support the company in the fields of construction services, engineering, mining support services and mining transportation equipment. "We are optimistic that a number of strategic policies that we have prepared can answer the challenges that exist this year, both globally and nationally in order to support the acceleration of national economic recovery," concluded Andi.