PT Indo Tambangraya Megah (ITMG), a listed Indonesian coal producer, reported a 17% increase in first-half net profit to $110 million, supported by higher sales volumes and firmer average selling prices, ITMG management reported lately.

Revenue for the six months ended June 30 rose 9% year on year to $1 billion, up from $919 million in the same period of 2025. The top-line growth was driven by a 5% increase in sales volume to 12.3 million tonnes and a 4% uplift in average selling price to $81/t, the company said.

Earnings before interest, taxes, depreciation, and amortization (EBITDA) advanced 11% to $181 million, while gross margin widened modestly to 26% from 24% a year earlier.

Operating cash flow for the period declined 78% to $31 million, compared to $141 million in the first half of 2025, according to the cash flow statement. The decrease reflected higher working capital requirements, including increases in trade receivables and inventory levels during the period.

Cost of revenue rose 7% to $744 million, driven by a higher strip ratio and elevated fuel prices. General and administrative expenses increased 40% to $26 million, while financial costs were reduced by 32% to $4 million.

On the operational side, total coal production fell 5% to 9.9 million tonnes in the first half, though second-quarter production rebounded 13% sequentially. Owned coal sales grew 11%, while third-party sales contracted 20%, reflecting a shift toward higher-margin self-mined volumes.

Total assets stood at $2.42 billion as of June 30, with cash and cash equivalents of $738 million, representing approximately 33% of total assets.