ANTAM Records Positive Unaudited Performance On the First Half of 2019 With Net Profit of Rp365.75 Billion
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Jakarta, September 30, 2019 - PT Aneka Tambang Tbk (ANTAM; IDX: ANTM; ASX: ATM) is pleased to announce positive result on Company’s operation and financial unaudited performance for the first half of 2019 (1H19). In 1H19 ANTAM’s record net profit of Rp365.75 billion, rose 6% compared to net profit of Rp344.45 billion on the first half of 2018 (1H18). The solid performance of ANTAM’s production and sales figure in 1H19 are also reflecting on Company’s net sales number, amounted to Rp14.43 trillion, increase 22% compared to 1H18 net sales figure of Rp11.82 trillion. ANTAM’s solid financial performance was also reflected from Earning Before Interest, Taxes, Depreciation and Amortization (EBITDA) in 1H19 which amounted to Rp1.46 trillion, an increased of 6% from 1H18 EBITDA level of Rp1.38 trillion. Gold is the largest contributor for ANTAM’s revenue, amounted to Rp9.61 trillion or 67% of total net sales in 1H19.
ANTAM solid financial performance also reflected by improvement of the Company’s S&P Global corporate credit rating in 2019 from “B-/outlook stable” to “B-/outlook positive” as well as the improvement of ANTAM’s Corporate and Sustainable Bonds I Year 2011 Rating conducted by PT Pemeringkat Efek Indonesia (PEFINDO) from “idA-/outlook stable” to “idA/outlook stable”. This improvement are based on the assessment of Company’s financial & operational positives growth performance outlook for twelve month period ahead.
Solid Performance of ANTAM’s Production & Sales During 1H19
Positive performance of ANTAM’s operation and sales of company’s main commodity on 1H19 also reflected on ferronickel production volume achievement that reached 13,017 ton nickel in ferronickel (TNi), rose 2% compared to ferronickel production volume of 12,811 TNi in 1H18. Along with the rise on production volume, ferronickel sales on 1H19 reached 13,157 TNi or increased 5% compared to 12,579 TNi on 1H18. In 1H19, ferronickel sales was the second largest contributor to ANTAM's sales, amounting Rp2.31 trillion or 16% of total sales on 1H19.
As for ANTAM’s gold commodity, on 1H19 the production volume of gold from Pongkor and Cibaliung Mine reached 979 kg (31,476 troy oz.). Meanwhile the total sales volume reached 15,741 kg (506,084 troy oz.) or increased by 14% compared to gold sales volume of 13,760 kg (442,394 troy oz) in 1H18. 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.
On nickel ore commodity, production volume of nickel ore in 1H19 amounted to 4.79 million wet metric ton (wmt), or increase up to 27% compared to 3.77 million wmt in 1H18. Meanwhile, total nickel ore sales volume reached 3.90 million wmt, increased by 103% compared to nickel ore sales volume of 1.92 million wmt in 1H18. ANTAM’s revenue from nickel ore amounted to Rp1.76 trillion in 1H19, a 107% growth compared to nickel ore sales revenue in 1H18. In addition, bauxite commodity also delivered positive contribution for Company’s performances during 1H19 period. Bauxite production volume posted 597 thousand wmt, an increase of 43% YoY with sales volume amounted to 611 thousand wmt, that increased by 138% YoY. In 1H19, revenues from the sales of bauxite were recorded at Rp296 billion, increase 136% compared to 1H18.
ANTAM’s Downstream Development Project
ANTAM main project under development includes of East Halmahera Ferronickel Plant Development Project (P3FH) with production capacity of 13,500 TNi (Line 1). In 1H19 construction progress reached 97%. 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 one million ton SGA per annum (Stage 1).
ANTAM’s Positive Share Performance During 8M19 Period
At the end of August 2019 (8M19), ANTAM's shareholders recorded at 47,080 investors. In 8M19, ANTAM closing share price reached Rp1,070 per share, improved by 40% compared to ANTAM closing share price at the end of December 2018 of Rp765 per share. ANTAM’s positive share (ticker: ANTM) performance in 8M19 was reflected by the growth of daily average shares volume traded that reached 107.79 million shares, increased by 32% compared to daily average shares volume traded in 8M18. An average daily trading value also reached Rp101.23 billion, increased by 44% compared to 8M18. Moreover, ANTM remains part of the LQ45 and IDX30 index at the Indonesia Stock Exchange (IDX). The LQ45 and IDX30 Index lists companies with the highest liquidity at the IDX.