PT Antam (Persero) Tbk

Economic Performance

In the first half of 2012, the consolidated income (for the period attributable to owners of the parent) reached Rp476 billion and earnings per share (EPS) of Rp49.97 for the first half of 2012. Antam remained profitable in the midst of volatility in global commodity prices. Antam remained profitable in first half of 2012 despite volatility in global commodity prices. Antam has put cost reduction as its top priority and expects to save Rp8 billion in expenses up until July 2012 through various efficiency measures. Revenue for the six months ending June 30th, 2012 amounted to Rp4.5 trillion as Antam posted higher sales of gold and nickel ore. Gold contributed 41% of Antam's sales in first half of 2012. During the first semester of 2012, Antam also received a 39% higher dividend payment from its joint venture, PT Nusa Halmahera Minerals amounting to Rp238 billion.

As of June 30, 2012, Antam's cash and cash equivalents of Rp5.2 trillion consisted mainly of cash in banks and time deposits with several national and international banks. As of June 30, 2012, interest bearing liabilities, in the form of Rupiah denominated bonds, amounted to Rp3 trillion. Antam's liquidity remained solid with current ratio of 4.9x as of June 30, 2012. Antam also remained strong in its financial structure in the midst of commodity prices volatility with interest bearing debt to equity ratio of 29%. In view of its healthy financial structure, Antam adheres to prudent and conservative financial philosophy.

In the first half of 2012, Antam's contribution to the state amounted to Rp644.7 billion in which Rp153.4 billion came from tax contribution and Rp491.2 came from non tax contribution.

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Date20 JUN 2013 18:30:12
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