PT Antam (Persero) Tbk

ANTAM Recorded Total Comprehensive Income in Fy15 of Rp912.56 Billion
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Jakarta, March 2, 2016 - PT ANTAM (Persero) Tbk (ASX - ATM; IDX – ANTM; ANTAM) is pleased to announce that the company recorded a 12% increase in sales value compared to 2014 (FY14) to Rp10.5 trillion. The largest contributors to ANTAM’s revenue in 2015 (FY15) were gold and ferronickel. Gold was the largest component of ANTAM’s revenue, contributing Rp7.31 trillion or 70% of net sales. Ferronickel was the second largest contributor to ANTAM’s revenue, contributing Rp2.72 trillion or 26% of net sales.

ANTAM’s President Director Tedy Badrujaman said,
" Despite the volatility of global mining industry, our operating performance remains on track as reflected from the significant increase of gold sales. Coupled with continued efficiency initiatives, our gross profit remains positive in FY15. ANTAM also recorded Rp2.33 trillion of increase on land from revaluation. We are committed in improving the company's performance amidst current challenges. "

ANTAM’s increase of sales was a result of a significant increase in gold sales volume. ANTAM posted a 42% yoy increase of gold sales to 14,179 kg (455,865 oz). In FY15 ANTAM posted other comprehensive income of Rp912.56 billion after deducting the increase on land from revaluation with the operational performance of Rp1.44 trillion.

In FY15 ANTAM spent Rp2.02 trillion for capital expenditure consisting of Rp226.43 billion for routine capital expenditure, Rp1.75 trillion for development capital expenditure and Rp42.33 billion for deferred charges. Amidst volatility of commodity prices, ANTAM implements prudent investment spending.

ANTAM recorded a positive operating performance in 2015. Gold production in 2015 reached 2,210 kg (71,053 oz) from the Pongkor and Cibaliung mines compared to 2014 production of 2,342 kg (75,297 oz). ANTAM’s gold sales in FY15 surged by 42% to 14,179 kg (455,865 oz) compared to FY14. In addition to gold production from Pongkor and Cibaliung, ANTAM also refines gold for domestic third parties. Ferronickel production in FY15 grew by 2% to 17,211 tons of contained nickel in ferronickel (TNi) compared to FY14. The increase was due to higher quantity and grade of the ore feed, which were mined from the Pomalaa and Pakal Island nickel mines. Sales volume of ferronickel in FY15 remained high despite volatility of global mining industry and was recorded at 18,643 TNi.

ANTAM continued its development initiatives prudently. The overall progress of ANTAM’s key projects was on track with the Engineering, Procurement and Construction (EPC) progress of the Pomalaa Ferronickel Plant Expansion Project (P3FP) reached 98.67%. ANTAM was reviewing the redesign as well as retendering its East Halmahera Ferronickel Plant Development Project (P3FH) after the Company received state injection at the end of 2015.

In other development initiatives, ANTAM and INALUM signed a Memorandum of Understanding with Aluminum Corporation of China to develop and operate a Smelter Grade Alumina Refinery (SGAR). The production capacity of SGAR is estimated at 2 million tons of SGA per year which will be developed in stages. The refinery require 6 million wet metric tons (wmt) per year of ore feed. The capacity of the first stage of the SGAR is estimated at 1 million tons of SGA per year with the construction of the additional capacity of 1 million tons of SGA will commence when the operations of the first phase of the plant is positive.

At the end of 2015, ANTAM’s received two awards at the Sustainability Reporting Award (SRA) 2015. ANTAM received first rank in Best Sustainability Report in Mining and Metal and Best Overall Sustainability Report 2015. ANTAM also received the Most Trusted Companies Award 2015 during the Good Corporate Governance Award 2015.

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