Geo Energy Q3 net profit falls 55% to US$3.2 million due to lower coal prices

Indonesian coal producer Geo Energy Resources on Friday (Nov 14) reported a 55 per cent decline in net profit to US$3.2 million for the third quarter ended Sep 30, from US$7 million the year before.

This was despite higher revenue, which improved 62 per cent on the year to US$136.6 million from US$84.3 million.

The group attributed the revenue increase to the year-on-year doubling of its sales volume in the quarter. This followed improvements to its coal access, which stemmed from the optimisation of its mining plans in 2024.

However, Geo Energy’s cash profit per tonne of coal averaged at US$6.56 in Q3 FY2025, lower than the US$12.04 per tonne in the year-ago period.

This was partially offset by lower cash expenses due to cost efficiencies, as well as other costs that track the fall in coal prices.

For the first nine months of 2025, the group’s net profit was down 31 per cent on the year at US$23.2 million. Revenue for the period grew 68 per cent to US$426.2 million.

For Q3, the company declared an interim cash dividend of S$0.001 per ordinary share. In comparison, the dividend for the same period the year before stood at S$0.002 a share.

The interim dividend will be paid on Dec 1, after the ex-dividend date of Nov 21. Earnings per share stood at S$0.0034, compared with S$0.0068 in the year-ago period.

Noting the rebound in coal prices, Charles Antonny Melati, the group’s executive chairman and chief executive officer, said: “With current production exceeding our full-year target for 2025 and market fundamentals improving, we are well-positioned to deliver stronger results ahead.”

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Geo Energy shares closed 2.2 per cent or S$0.01 lower at S$0.45 on Friday, before the results were released.

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