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Antam Posts Profit of IDR 2.85 Trillion in Q3 2023


Fri 08 Dec 2023, 12:00 PM



PT Aneka Tambang Tbk (ANTM), which is a BUMN Holding Mining Industry, recorded that the profit for the period until the third quarter of 2023 was IDR 2.85 trillion. This achievement grew 8% from the profit for the current period in the first nine months of 2022 which amounted to IDR 2.63 trillion.

Apart from that, the company also recorded Earnings Before Interest, Taxes, Depreciation and Amortization (EBITDA) until September 2023 of IDR 5.40 trillion, a consistent achievement compared to last year's EBITDA achievement.

Antam recorded the Company's net cash flow position obtained from operating activities in the third quarter of IDR 3.98 trillion, or a growth of 93% compared to the achievement in 2022 of IDR 2.06 trillion. This achievement strengthens Antam's financial structure with a cash and cash equivalent balance of IDR 7.54 trillion, growing 63% from last year's position of IDR 4.62 trillion.

This profit achievement was due to Antam's net sales value of IDR 30.90 trillion with the dominant contribution coming from domestic net sales which reached IDR 26.69 trillion or the equivalent of 86% of total net sales in the third quarter of this year.

"This achievement is in line with the Company's strategy to develop a domestic customer base for main commodities, namely gold products, nickel ore and bauxite," said Antam President Director Nico Kanter in a virtual Public Expose, Thursday (30/11).

He detailed that gold products were the largest contributor to Antam's sales in the third quarter, with a proportion of 62% of Antam's total sales or IDR 19.29 trillion.

Meanwhile, the total volume of gold metal production from the Company's mines was 908 kg (29,193 troy oz.), with sales of gold metal in 9M23 reaching 19,460 kg (625,654 troy oz.).

The sales contribution of the Nickel Segment (ferronickel and nickel ore products) in the third quarter was recorded at 33% of Antam's total sales with a sales value reaching IDR 10.10 trillion, or growing 19% from the achievement in the same period last year of IDR 8.48 trillion. ANTAM's ferronickel production volume reached 15,787 tons of nickel in ferronickel (TNi), with the sales volume of ferronickel products in the third quarter reaching 14,132 TNi.

In nickel ore products, the company recorded a consolidated nickel ore production volume of 10.67 million wet metric tons (wmt), an increase of 72% compared to the achievement in 9M22 of 6.22 million wmt. The growth in nickel ore production levels is in line with increasing domestic demand.

Antam's consolidated nickel ore sales volume in the third quarter of this year reached 9.41 million wmt, an increase of 98% compared to last year's sales achievement of 4.75 million wmt.

The sales contribution of the Bauxite and Alumina Segment in the third quarter of this year was recorded at 4% of Antam's total sales with a sales value of IDR 1.25 trillion.

Throughout the nine months of this year, ANTAM recorded a bauxite production volume used as raw material for Chemical Grade Alumina (CGA) factory ore as well as sales to third parties of 1.42 million wmt, growing 6% compared to the achievement in 9M22 of 1.34 million wmt. Bauxite sales volume in 9M23 was recorded at 989 thousand wmt, an increase of 6% compared to last year's achievement of 936 thousand wmt.

Meanwhile, the production volume of alumina products in the third quarter of this year reached 114,524 tons of alumina, with the sales volume of alumina products reaching 108,351 tons of alumina.

Apart from that, related to business development projects, ANTAM is focused on completing the Company's strategic projects in 2023, one of which is starting the initial phase of operating the East Halmahera ferronickel plant with a capacity of 13,500 TNi per year.

On the other hand, he added, as ANTAM's support for the Government's target of achieving net zero emissions by 2060, ANTAM is continuously implementing green energy in the Company's operational areas.

"In line with that, ANTAM is involved in developing an integrated Electric Vehicle (EV) Battery ecosystem in Indonesia together with strategic partners," he concluded.

Image source: Antam

Source: Cetak Laba Rp2,85 T di Q3, Ini Kontributor Terbesar


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