News

Energy & Offshore

Staff Reporter

, Singapore

Published:

1 year ago

214 views

Photo by Pixabay via Pexels

Geo Energy’s income jumps 63% in Q1

Sales doubled during the same period.

Geo Energy has reported a net profit of $18.31m (US$14.1m) in the first quarter (Q1) of 2025, reflecting a 63% increase from last year.

In a bourse filing, the company said this was recorded following an increase in its sales volume, which doubled to 3.5 million tonnes, thanks to improved coal access in 2025 following the group’s optimisation of its mining plans in 2024.

This fuelled revenue, which increased 68% to $216.10m (US$166.4m) despite lower average selling price of $61.01 (US$46.98) per tonne.

Geo Energy said it is ahead of its targeted production volume of 10.5 million tonnes to 11.5 million tonnes for 2025.

“Building on this momentum, we remain confident in our ability to deliver on our strategic priorities and accelerate growth in 2025 and beyond, propelling us closer to our vision of becoming a billion-dollar energy group,” said Charles Antonny Melati, executive chairman and CEO of Geo Energy.

$1 = US$0.77

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