ANTAM's Unaudited Financial Performance In The First Nine Months Of 2012 Remains Solid
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Jakarta, October 31, 2012 – PT ANTAM (Persero) Tbk (ASX - ATM; IDX – ANTM; ANTAM) announces today its financial performance for the first nine months of 2012 which remains solid despite the global economic uncertainty. Demand for ANTAM's main commodities in nickel and gold remained strong during the period. ANTAM's unaudited income for the year reached Rp627.78 billion with Earnings per Share (EPS) of Rp65.88 for the first nine months of 2012.
ANTAM's President Director Alwinsyah Lubis said:
"We continue to focus on delivering solid returns to our stakeholders in the midst of a weak commodity price environment. We also continue to strengthen our operational efficiency. The company saved Rp18.3 billion during 9M12 through various cost reduction measures to maintain its competitiveness and to deliver solid results. We believe our performance will remain solid, supported by efficiency efforts and completion of our development projects."
Overall, net sales during 9M12 reached at Rp7.1 trillion. Gold was the largest contributor to ANTAM's total net sales of Rp2.5 trillion or 35% of total net sales. Ferronickel was the second largest contributor to ANTAM's sales with 30% contribution or equal to Rp2.2 trillion. Nickel ore contributed Rp2 trillion or equal to 28% of ANTAM's total sales in 9M12. Although demand of ANTAM's main commodities of nickel and gold remained strong, ANTAM's 9M12 financial performance reflected the commodity price volatility environment.
ANTAM's liquidity position remains solid and strong. ANTAM's cash and cash equivalents amounted to Rp5.5 trillion with interest bearing debt in the form of fixed income bonds and short term bank loan of Rp4.6 trillion.
ANTAM is also pleased to announce that the construction of its key projects is on track and on schedule. ANTAM previously published the overall progress of its projects, which covers the progress of construction, financial and other non-technical aspects. As per the end of September 2012, the overall progress of the Tayan CGA project reached 86.2% with construction reaching 79.2%. The overall progress of the East Halmahera Ferronickel project reached 28.6% with construction progress of 3.2%. Meanwhile, the overall progress of the Pomalaa MOP-PP project reached 25.7% with construction progress of 16.4%.