RMK Energy Revenue Slides 36% by September 2025, Company Details Strategic Countermeasures

JAKARTA, Investortrust.id — PT RMK Energy Tbk or RMKE records a 36 percent year on year revenue decline to Rp 1.12 trillion by Tuesday, Sept 30, 2025 in Jakarta as weaker global coal prices and falling demand from China pressured first half sales, a trend that weighed on cash flow and earnings visibility. The company said the impact began to ease toward the end of the year as domestic sales and logistics volumes recovered.

Revenue declined from Rp 1.75 trillion a year earlier, reflecting softer export demand amid global economic uncertainty linked to escalating trade tensions. Management described the pressure as temporary and concentrated in the first half of 2025.

Corporate Secretary Muhtar said the downturn was primarily driven by coal market conditions and weaker overseas demand. “The decline was mainly caused by lower coal sales revenue in the first half of 2025 due to falling coal prices and reduced coal demand from China amid global economic uncertainty,” he said.

Despite the weak nine month performance, RMKE said coal sales normalized in the fourth quarter of 2025 and showed an improving trend at the start of 2026. Management shifted focus toward strengthening domestic sales to stabilize volumes and reduce exposure to export volatility.

The company also accelerated efforts to increase coal haulage volumes through its own hauling road infrastructure. Several mines, including WSL and DBU, began using RMKE hauling services in the third quarter of 2025, followed by MME in the fourth quarter, with additional potential mining partners targeted in 2026.

Muhtar said higher transport volumes would directly improve efficiency by spreading fixed costs over larger throughput. “With higher volumes, fixed costs can be allocated more optimally, which improves the overall cost structure,” he said.

RMKE continued to upgrade supporting infrastructure, particularly its hauling roads, by applying chipseal surfacing to improve operational efficiency and coal transport capacity to loading stations and ports. Chipseal is a road surfacing method that combines sprayed bitumen with crushed aggregate to enhance durability.

Operating cash flow turned to a Rp 65 billion deficit by the end of September 2025, reversing a Rp 159 billion surplus a year earlier, largely due to higher inventories and trade receivables. “Coal purchase payments were made in the third quarter, while sales receipts were only received in the fourth quarter,” Muhtar said.

On liquidity, RMKE acknowledged continued use of overdraft facilities to support operations, citing greater flexibility compared with other working capital financing. Management said the approach helped keep interest expenses under control and remained aligned with a conservative borrowing policy.

Responding to a sharp rise in its share price, management said it had not identified any undisclosed material information that could directly explain the move. The Indonesia Stock Exchange temporarily suspended RMKE shares starting the first session on Tuesday, Jan 13, 2026 after the stock surged 23.05 percent in a week and nearly 77 percent over one month to Rp 7,875 per share.