ANTAM Records Positive Performance On The First Half Of 2018 With Net Profit Of Rp344.45 Billion, Significant Increase 169% Compared To Net Loss On The Fisrt Half Of 2017
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Jakarta, September 7, 2018 - PT Aneka Tambang Tbk (ANTAM; IDX: ANTM; ASX: ATM) is pleased to announce significant increased of Company's operation and finance performance on the first half of 2018 (1H18). In 1H18, ANTAM's records net profit of Rp344.45 billion, significant increased by 169% compared to net loss of Rp496.12 billion on the first half of 2017 (1H17). ANTAM's solid financial performance was also reflected from Earning Before Interest, Taxes, Depreciation, and Amortization (EBITDA) on 1H18 which amounted to Rp1.38 trillion, an increased of 249% from Rp397 billion for the same period on 1H17. Higher of ANTAM's profitability on 1H18 was due to production and net sales increased as well as efficiency improvements which led to stable cash costs level. On 1H18 ANTAM's net sales reached Rp11.82 trillion, grew 292% compared to Rp3.01 trillion on 1H17. Gold is the largest contributor for ANTAM's revenue, amounted to Rp8.20 trillion or 69% of total net sales on 1H18.
ANTAM solid financial performance also reflected by improvement of the Company's S&P Global corporate credit rating in 2018 from "B-/outlook stable" to "B-/outlook positive". This improvement is based on the assessment of Company's operational positives growth performance outlook for 12 month period.
Solid Performance of ANTAM's Production & Sales During 1H18
Positive performance of ANTAM's operation and sales of company's main commodity on 1H18 also reflected on the achievement of ferronickel production volume that reached 12,811 ton nickel in ferronickel (TNi), rosed 37% compared to ferronickel production volume of 9,327 TNi in 1H17. Along with the rise on production volume, ferronickel sales on 1H18 reached 12,579 TNi or increased 90% compared to 6,634 TNi on 1H17. On 1H18, ferronickel sales was the second largest contributor to ANTAM's sales, amounting Rp2.47 trillion or 21% of total sales on 1H18. The achievement of ANTAM's ferronickel growth production are also supported by ANTAM's ferronickel plant performance which meet the operation stability and process optimization. The implementation of best operational practices and cost optimization puts ANTAM's as one of leading global ferronickel producers on low cash costs operation amid of fuel and coal global price volatility.
As for ANTAM's gold commodity, on 1H18 the production volume of gold from Pongkor and Cibaliung Mine reached 1,041 kg or increase 3% compared to 1,013 kg in 1H17. Meanwhile the total sales volume reached 13,760 kg or increased by 317% compared to gold sales volume of 3,298 kg in 1H17. The increasing of ANTAM's gold sales was aligned with ANTAM's strategy on the optimization of its gold refinery utilization and also expanding ANTAM's commodity marketing channel for both domestic and export markets as well as innovation on ANTAM's Logam Mulia gold product. As a part of ANTAM's strategy to increase the added value of its gold minted bar products, on April 2018, ANTAM through the Precious Metal Processing and Refinery Business Unit has launched the gold minted bar of Indonesian Batik Motifs Series II. ANTAM is optimistic with Indonesian Batik Motifs Series II will increase public interest to gold investment through collectible items.
For nickel ore commodity, production volume of nickel ore in 1H18 amounted to 3.76 million wet metric ton (wmt), or increase up to 138% compared to 1.58 million wmt in 1H17. Meanwhile, total nickel ore sales volume reached 1.92 million wmt, increased by 488% compared to nickel ore sales volume of 326 thousand wmt in 1H17. ANTAM's revenue from nickel ore amounted to Rp849 billion in 1H18, a 456% growth compared to nickel ore sales revenue in 1H17.
In addition, bauxite commodity also delivered positive contribution for ANTAM during 1H18 period. Bauxite production volume posted 416 thousand wmt, an increase of 102% with the sales volume of 256 thousand wmt, that increased by 100%. In 1H18, revenues from the sales of bauxite were recorded at Rp126 billion, significant increase 137% compared to 1H17.
ANTAM's Development Project: On Track, Supported by Solid Financial Performance
ANTAM solid financials result in 1H18 is also supported with strong cash and cash equivalents amounting of Rp5.08 trillion. ANTAM main project under development includes of East Halmahera Ferronickel Plant Development Project (P3FH) with production capacity of 13,500 TNi (Line 1). In 1H18 construction progress reached 67% and construction is estimated to be completed by the end of 2018. After completion of P3FH (Line 1), ANTAM's ferronickel annual production capacity will increase to 40,500 TNi from the existing production capacity of 27,000 TNi (increase by 50%). On bauxite commodity, ANTAM is currently focusing on the development of Smelter Grade Alumina Refinery (SGAR) plant with PT INALUM (Persero) with an estimated total production capacity of up to 1 million ton SGA per annum (Stage 1). The Bankable Feasibility Study (BFS) has finished and will enter to the next detail technical phase. The project ground breaking is planned to be conducted on fourth quarter of 2018.
ANTAM Receives The Achievement On The Minerals and Coal Mining Management Award 2018
ANTAM received the achievement on the Minerals and Coal Mining Management Award 2018. The award reflects ANTAM's commitment in the implementation for the sound mining safety and environmental management on our mining operations. ANTAM also fulfills the government regulations regarding to the mining, safety and environmental regulations as well as conducting good mining principles. During the event, ANTAM received 11 awards on Mining Safety Management Category and Mining Environmental Management Category.
ANTAM's Positive Share Performance During 1H18 Period
At the end of 1H18, ANTAM's shareholders recorded at 35,348 investors. On 1H18, ANTAM closing share price reached Rp890 per share, improved by 40% compared to ANTAM closing share price at the early of January 2018 of Rp635 per share. ANTAM's positive share performance in 1H18 was reflected by the growth of daily average shares volume traded that reached 84.63 million shares, increased by 84% compared to daily average shares volume traded in 1H17. An average daily trading value also reached Rp72.33 billion, increased by 102% compared to 1H17.
In 1H18, ANTAM's shares part of the MNC36 Index. Moreover, ANTAM's shares remains part of LQ45 Index, IDX30 Index, IDX Small-Mid Cap (SMC) Composite Index, IDX SMC Liquid Index, PEFINDO Investment Grade (i-Grade) Index, Jakarta Islamic Index as well as Kompas100 Index at the IDX which is the list companies with the highest liquidity at the IDX. ANTAM solid performance also reflected by the predicate of the first rank of Top 100 Excellent Growth Company 2018 which was released by Bisnis Indonesia.