Indonesia's leading integrated energy company PT Indika Energy produced 22.2 million tonnes of coal in the first three quarters of 2025, reaching 74% of its 2025 target of 30 million tonnes yet dropping 5.1% year on year, the company said.

In the first nine months, its net profit attributable to shareholders fell 98.6% on the year to $474,553, while the revenue hit $1.44 billion, down from $1.78 billion in the preceding year.

The company ascribed the poor performance to a decrease in contributions from Kideco, one of its subsidiaries, due to plunging average coal selling prices.

In the first nine months, the subsidiary sold 9.6 million tonnes of coal, or 43% of its total sales volume, to the domestic market, and 12.6 million tonnes, or 57%, to the export market. The average selling prices fell 14.7% year on year.

Meanwhile, Indika Resources, another subsidiary, saw its coal sales in the first three quarters drop from 2.7 million tonnes in 2024 to 0.5 million tonnes in 2025, with revenue declining from $138.9 million to $28.7 million. This was mainly caused by weakening demand in the export market, it said.

In addition, Indika Energy reported a capital expenditure in the given period of $82.1 million, equivalent to 33.4% of its budget of $246.1 million.