ANTAM Posted Positive Financial Performance in the First Quarter of 2019
Home News, Reports and Presentations News Releases
In First Quarter of 2019 (1Q19), ANTAM Net Sales Reached Rp6.22 Trillion,
an Increase of 9% Compared to Net Sales Figure in 1Q18 of Rp5.73 Trillion
ANTAM’s Operating Profit in 1Q19 reached Rp304.73 Billion
ANTAM Booked Positive Net Profit of Rp171.67 Billion in 1Q19 and Recorded Earning Before Interest, Taxes, Depreciation, and Amortization (EBITDA) of Rp701.47 Billion
ANTAM Recorded Positive Growth Performance on Production and Sales of Company's Nickel Commodity in 1Q19
Construction of The East Halmahera Ferronickel Plant Development Project
Jakarta, April 30, 2019 - PT Aneka Tambang Tbk (ANTAM; IDX: ANTM; ASX: ATM) is pleased to announce the positive Company’s financial performance during the first quarter period of 2019 (1Q19). The positive financial result reflects on Company’s sales figure of Rp6.22 trillion, rose to 9% compared to Company’s sales figure of Rp5.73 trillion in 1Q18. ANTAM’s gross profit in 1Q19 amounted to Rp1.03 trillion, a 2% growth compared to 1Q18 gross profit of Rp1.02 trillion. In 1Q19, ANTAM recorded positive Earning Before Interest, Taxes, Depreciation, and Amortization (EBITDA) of Rp701.47 billion. The positive EBITDA level was courage by the positive performance of Company’s main commodity production and sales figure as well as maintaining the stable cash cost level amid of global commodity price volatility. During 1Q19, ANTAM posted operating profit of Rp304.73 billion and recorded positive net profit of Rp171.67 billion.
The Solid Performance of Company’s Main Commodity Production and Sales Figure in 1Q19
In 1Q19, ANTAM’s sales reached Rp6.22 trillion, with gold as the largest contributor of ANTAM’s revenue, amounting to Rp3.94 trillion or 63% of total 1Q19 unaudited net sales.
In 1Q19, ANTAM’s ferronickel production volume reached 6,531 ton nickel within ferronickel (TNi), a 7% increase from ferronickel production in 1Q18 of 6,087 TNi. Meanwhile, ANTAM’s ferronickel sales volume also posted positive growth of 33% amounted to 7,122 TNi, compared to ferronickel sales volume in 1Q18 of 5,363 TNi. Higher ferronickel production and sales volume in is supported by ANTAM’s ferronickel plant performance in Pomalaa which meet the operation stability with production capacity until 27,000 TNi per annum. The Company’s ferronickel capacity will be improved up to 40,500 TNi on the Second Half of 2019 inline with the initial production plan from ANTAM’s new ferronickel smelter in East Halmahera. In 1Q19, ferronickel sales was the second largest contributor to ANTAM's revenue, amounting Rp1.23 trillion or equal to 20% of the total sales in 1Q19.
In 1Q19, ANTAM recorded gold production volume of 470 kg (15,110 t.oz) from Pongkor and Cibaliung mines. Meanwhile, ANTAM's gold sales in 1Q19 reached 6,517 kg (209,526 t.oz). ANTAM have a solid commitment to increase Company’s gold sales figure through gold product innovation and expanding gold distribution channel of Logam Mulia product. ANTAM’s is Indonesia’s only precious metal processing and refinery unit which accredited as Good Delivery List Refiner from London Bullion Market Association (LBMA).
In 1Q19, ANTAM has received the renewal recommendation permit of mineral export for low grade nickel ore (<1.7% Ni) amounted to 2.7 million wet metric ton (wmt) from the Ministry of Energy and Mineral Resources (MEMR) for the period of 2019-2020. In 2018, ANTAM has obtained mineral export license of low grade nickel with total amount of 3.68 million wmt in which the export license of 2.7 million wmt was acquired in March 2018 and the rest license of 980 thousand wmt was obtained in November 2018 inline with the East Halmahera Ferronickel Plant Development Project. Total production of nickel ore in 1Q19 amounted to 2.23 million wmt, an increase of 6% compared to 1Q18. ANTAM recorded nickel ore sales volume of 1.74 million wmt, a 37% increase compared to 1Q18 nickel ore sales. ANTAM posted revenue from nickel ore of Rp782.51 billion in 1Q19, a 39% increase from 1Q18 nickel ore revenue at Rp562.66 billion.
In addition to nickel ore, ANTAM also obtained the renewal export recommendation permit of 840 thousand wmt of washed bauxite ore from the MEMR in March 2019. In 1Q19, ANTAM recorded bauxite ore production of 273,986 wmt, an increase of 37% compared to bauxite ore production in 1Q18. Meanwhile, in 1Q18 bauxite ore sales volume reached 55,000 wmt which derived a revenue from bauxite sales amounted Rp41.14 billion, a 6% increase compared to 1Q18 bauxite revenue.
In line with ANTAM’s solid commitment to optimize the operations of Tayan Chemical Grade Alumina (CGA) plant, at the end of 2018, ANTAM has accomplished the acquisition process of PT Indonesia Chemical Alumina (PT ICA) shares with total agreed upon purchase consideration of US$1 (One United States Dollar). As a result of operational optimization process of Tayan CGA Plant, ANTAM through its subsidiary whom operates the Tayan CGA Plant, PT ICA, as much of 14,042 ton alumina was produced and in the amount of 12,231 ton alumina product has shipped to the customer. During 1Q19, ANTAM’s revenue generated from alumina sales amounting to Rp94.90 billion. Through the proper transfer of technology, product development and sound marketing support, ANTAM are optimistic that the operation of Tayan CGA Plant will produce globally competitive CGA product and generate positive economic value for the Company and it’s shareholders.
ANTAM's Development Project: On Track
Based on Company’s development strategy which focused on mineral downstream project, ANTAM is currently focusing on completion the Company's main development projects. The construction of ANTAM's strategic project: East Halmahera Ferronickel Plant Development Project (P3FH), remained on the track with construction progress reached 95% at the end of 1Q19. P3FH will have annual ferronickel production capacity of 13,500 TNi whereby the commercial operation phase is estimated to be commenced in Second Half of 2019. After completion of P3FH, 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 development project, ANTAM is currently focusing on the development of Smelter Grade Alumina Refinery (SGAR) plant with PT INALUM (Persero) as Mining Industrial Holding. SGAR plant will have annual SGA production capacity of 1 million ton SGA per annum (Stage 1) whereby the initial production phase is estimated to be conducted in 2022.
ANTAM’s Positive Share Performance in 1Q19
In 1Q19, ANTAM shares remains as a part of the LQ45 and IDX30 Index in Indonesia Stock Exchange (IDX) for the period of February to July 2019. The LQ45 Index lists of 45 shares Listed Companies in IDX with the highest liquidity and higher capitalization. Meanwhile, IDX30 Index consists of 30 stock with the highest liquidity and higher capitalization, that its constituency is part of the LQ45 Index.
ANTAM’s positive share performance was reflected from the number of investors trading of ANTAM’s shares. Until March 2019, ANTAM’s total investor reached 48,745 investors, increased by 3% compared to the total investors of December 2018 of 47,084 investors. ANTAM’s shares were also actively traded in IDX. Until March 2019, ANTAM closing share price reached Rp885 per share, improved by 16% compared to the closing price of December 2018 which amounted to Rp765 per share. In March 2019, the average traded shares reached 130.14 million shares with the average daily trading value of Rp125,53 billion.