PT Aneka Tambang Tbk (ANTAM) is pleased to announce the consolidated net profit of Rp631.12 billion (more than US$43.5 million) between January and September 2018 (9M18), a 290 per cent increase from the Rp331.47 billion (US$23 million) net loss for the same period of time in 2017 (9M17).

The solid increase of profitability was also reflected in ANTAM’s 9M18 operating profit of Rp1.93 trillion (US$133 million), a jump of 732 per cent from ANTAM’s 9M17 operating profit of Rp232.89 billion (US$16 million).

The strong profitability result is also reflected in ANTAM’s Earnings Before Interest, Taxes, Depreciation, and Amortisation (EBITDA) in 9M18, which amounted to Rp2.14 trillion (US$147.5 million), an increase of 96 per cent from Rp1.09 trillion (US$75 million) EBITDA in 9M17.

ANTAM's net sales in 9M18 reached Rp19.95 trillion (US$1.4 billion), with solid financial results also supporting solid cash and cash equivalents of Rp5.81 trillion (over US$400 million).

Solid performance of ANTAM's operations and sales of in 9M18 was reflected with ferronickel production of 19,264 tons of nickel contained in ferronickel (TNi), a 21 per cent increase compared to 9M17 production of 15,813 TNi.

In line with increased production volume, ferronickel sales in 9M18 reached 19,149 TNi. The higher ferronickel production and sales volume in 9M18 was due to optimum and stable ferronickel plant performance in Pomalaa with annual installed production capacity of 27,000 TNi. In 9M18, ferronickel sales were the second largest contributor to ANTAM’s sales, amounting or equal to 19 per cent of 9M18 total sales.

In 9M18, production volume of gold from Pongkor and Cibaliung mines reached 1,478kg – a slight increase on the 9M17 production of 1,473kg. The total sales volume reached 22,388kg.

ANTAM continues to increase gold sales through innovations on Logam Mulia (ANTAM-LM) gold products. In July 2018, ANTAM and PT Pos Indonesia (Persero) continued the strategic partnership in gold sales to increase the distribution channel of ANTAM-LM domestic gold products. In September 2018, ANTAM also partnered with PT Bank Jabar Banten Syariah (Bank BJB Syariah) in the sales of ANTAM-LM’s precious metal products. The partnership aims to increase the distribution channel in West Java, Banten and DKI Jakarta regions.

ANTAM’s gold sales in 9M18 amounted to Rp13.37 trillion (US$900 million) or a 248 per cent increase over 9M17 sales.

Production volume of nickel ore in 9M18 amounted to 6.49 million wet metric ton (wmt), with total nickel ore sales volume amounting to 4.10 million wmt. In addition, bauxite production reached 788,000 wmt, an increase of 73 per cent with the sales volume of 693,000 or a 39% increase.

Topping its production dream run, ANTAM was awarded the “Best Overall” and “Top 50 The Biggest Market Capitalisation Public Listed Companies” gongs at The 10th Indonesia Institute for Corporate Directorship (IICD) Corporate Governance Conference & Awards 2018, held in Jakarta this month. The award was received by ANTAM’s President Director, Arie Prabowo Ariotedjo.

“ANTAM has a strong commitment to the implementation of Good Corporate Governance (GCG) principles in our business and operations to create an added value to our stakeholders as well as our shareholders,” said Mr Arie Prabowo Ariotedjo.

Source: www.antam.com

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