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PT Aneka Tambang (Persero) Tbk

04/30/2021 | Press release | Distributed by Public on 04/30/2021 07:36

ANTAM Recorded Positive Performance During the First Quarter of 2021 With Net Profit of Rp630.38 Billion

ANTAM Posted the Net Revenue During the First Quarter of 2021 (1Q21) of Rp9.21 Trillion. Gold Product Became the Largest Contributor of the Company's Sales with a Revenue of Rp6.59 Trillion or 72% from the Total Revenue in 1Q21.

ANTAM's Gross Profit Amounted to Rp1.63 Trillion in 1Q21, Increase 189% from 1Q20's Gross Profit of Rp561.82 Billion.

In 1Q21, ANTAM's Operating Profit Amounted to Rp793.89 , Increased Significantly by 477% from 1Q21's Operating Profit of Rp137.54 Billion.

Positive Production and Sales Performance Achievements in 1Q21 and Optimum Cost Management Strategies Gave Support to ANTAM's Profit for the Year in 1Q21 of IDR 630.38 Billion, a Significant Increase Compared to Loss for the Year in 1Q20 of IDR 281.84 Billion.

Jakarta, April 30, 2021 - PT Aneka Tambang Tbk (ANTAM; IDX: ANTM; ASX: ATM) is pleased to announce the growth of the Company's operational and financial performance during the first quarter of 2021 (1Q21). The Company retains its positive performance growth through the implementation of proper health protocols with high consistency throughout its operating areas. In addition, increased product added value, optimization of production, sales, and implementation of appropriate and efficient cost management contributed to the Company's positive performance growth.

In 1Q21 ANTAM's solid operational and financial performance was reflected from Earning Before Interest, Taxes, Depreciation and Amortization (EBITDA) amounted to Rp1.24 trillion. EBITDA performance in 1Q21 substantially increased compared to EBITDA from the first quarter of 2020 (1Q20) of Rp34.13 billion or grew 36 times. Higher EBITDA level was supported by operation production and sales stability as well as efficiency improvements that led to optimum cash cost level.

The growth of ANTAM's profitability in 1Q21 is reflected in ANTAM's gross profit of Rp1.63 trillion, an increase of 189% from gross profit in 1Q20 amounting to Rp561.82 billion. Meanwhile, ANTAM's operating profit in 1Q21 is recorded at Rp793.89 billion, significantly increased by 477% from the operating profit in 1Q20 of Rp137.54 billion. The solid improvement of gross and operating profits gave support to ANTAM's net profit in 1Q21 amounted Rp630.38 billion, significantly increased compared to loss profit in 1Q20 amounted Rp281.84 billion.

The proper implementation of the Company's operational strategy was also reflecting in the positive profitability of its main commodity that comprised of nickel, gold, and bauxite products. Throughout 1Q21, the Company was generating a positive inflow of net cash provided from operating activities amounted to Rp1.88 trillion, significantly increased compare to the net cash provided from operating activities within the 1Q20 period of Rp18.87 billion. Within 1Q21, the Company posted a net increase in cash and cash equivalents amounted to Rp1.26 trillion, significantly increased achievement compared to the net decrease in cash and cash equivalents in 1Q21 amounted Rp546.16 billion. ANTAM's solid operation and sales performance, strengthened ANTAM's financial structure which reflected from cash and cash equivalents in 1Q21 reached Rp5.33 trillion.

ANTAM's Production & Sales Performance Remains in 1Q21
In 2021, in relation to the Company's marketing strategy, ANTAM has been focusing to develop domestic-based customers for its gold and nickel ore product in-line with the commodity demand in the domestic market. In 1Q21, ANTAM net sales amounted Rp9.21 trillion, rose to 77% compared to net sales in 1Q20 amounted Rp5.20 trillion. Revenue from domestic sales activity as the dominant contributor amounted Rp7.45 trillion or equal to 81% of the Company's total net sales. According with commodity segment, gold sales was the largest contributor of ANTAM's net sales amounted Rp6,59 trillion (72%), ferronickel booked net sales of Rp1.23 trillion (13%), nickel ore amounted Rp950.01 billion (10%), and bauxite & alumina segment amounted Rp365.81 billion (4%).

In 2021, ANTAM is focusing on developing the domestic customer base especially for gold and nickel ore commodities in line with the positive growth awareness of gold investment and positive growth demand for Company's gold product on domestic market. During 1Q21, ANTAM's gold sales volume reached 7,411 kg (238,269 troy.oz), rose to 45% from the achievement in 1Q20. Meanwhile, ANTAM's gold production volume from the Pongkor and Cibaliung mines posted at 289 kg (9,292 troy oz). ANTAM continues to innovate in its way of conduction Logam Mulia gold product marketing services through the implementation of online gold sales and buyback. Through the Butik Emas Logam Mulia network spread across 11 cities in Indonesia and sales exhibition in several locations, ANTAM carried out the operation and sales activity with a strict health protocol.

In 1Q21, ANTAM recorded a positive result for its nickel segment. In 1Q21, ANTAM's ferronickel production volume reached 6,300 ton of nickel in ferronickel (TNi), with the ferronickel sales volume in 1Q21 amounted to 5,624 TNi. Ferronickel sales in 1Q21 were recorded at Rp1.23 trillion, an increase of 27% compared to 1Q20 amounting to Rp965.95 billion. Meanwhile for the nickel ore commodity, in 1Q21, the Company's production volume of nickel ore, which was used as the ore feed to the ferronickel plant as as well as sold to the domestic market amounted to 2.64 million thousand wet metric ton (wmt), significantly increased by 319% compared to the nickel ore production in 1Q21 of 629 thousand wmt. Meanwhile, the sales volume of nickel ore in the domestic market reached 1,60 million wmt in 1Q21.

On the bauxite front, in 1Q21 the production volume of ANTAM's bauxite, which was used as the ore feed to the Chemical Grade Alumina Plant as well as sold to third parties, amounted to 557,354 wmt with a sales volume of bauxite of 384,785 wmt.

ANTAM's Development Project
With regards to the Company's development projects, ANTAM is currently completing the construction phase of the ferronickel plant construction project in East Halmahera, North Maluku, which will have an installed capacity of 13,500 TNi per annum. In terms of developing the bauxite downstream process, the Company is currently focusing on the construction of the Smelter Grade Alumina Refinery (SGAR) plant in Mempawah, West Kalimantan, which was jointly developed with PT Indonesia Asahan Aluminium (Persero) with a processing capacity of 1 million ton of SGAR per annum.

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