Geo Energy Resources (RE4) reported that coal sales volume surged to 3.4 million tonnes in 3Q2025, twice the 1.7 million tonnes sold in the same period a year earlier, after optimising its mining plans.

Revenue rose 62 % year-on-year to about 184.4 million Singapore dollars, even though the average selling price fell to US$40.09 per tonne. Quarterly net profit came in at roughly 4.3 million Singapore dollars, compared with 9.4 million Singapore dollars a year ago.

Cash profit averaged US$6.56 per tonne, down from US$12.04, reflecting lower coal prices partially offset by cost efficiencies. General and administrative expenses stayed almost flat at around 4.5 million Singapore dollars, while depreciation and amortisation increased to about 14.3 million Singapore dollars on higher production.

The company declared an interim dividend of 0.10 Singapore cent per share, bringing total interim dividends paid for the year to 0.45 Singapore cent and representing a 21.05 % payout of year-to-date earnings. Management said the final dividend will be determined after reviewing full-year results, in line with its policy to distribute at least 30 % of net profit.

Operationally, Geo Energy has produced 9.6 million tonnes of coal in the first nine months of 2025 and expects to exceed its full-year target of 10.5 million–11.5 million tonnes. The group has also received approval to raise the annual production quota at its TBR mine to 8.5 million tonnes.

On the financing front, the company secured 371.3 million Singapore dollars in new facilities from Bank Mandiri in September, of which 344.3 million Singapore dollars has been drawn to refinance existing debt and fund expansion, including the proposed acquisitions of Indonesian logistics firms PT Trans Maritim Pratama and PT Bahari Segara Maritim.

Geo Energy said its integrated infrastructure project at PT Marga Bara Jaya is 50 % complete and scheduled for June 2026. The haul road is designed for 40–50 million tonnes a year, enabling the TRA mine to scale up to 20–25 million tonnes annually and providing potential third-party revenue.

ICI4 coal prices have risen to US$47.09 per tonne as of Nov, 13 2025, 12 % above the third-quarter average, and forecasts point to US$48–50 per tonne through the rest of 2025 and 2026. Management said improving market fundamentals and expanded capacity position the group for stronger results ahead.