Take A Peek At The Target Set By PT Timah For 2024

JAKARTA - PT Timah Tbk (TINS) explained a number of targets to be achieved by the company in 2024. In terms of income and profit, TINS targets income to exceed 2022.

Director of Finance and Risk Management of PT Timah Tbk Fina Eliani revealed that his party together with shareholders are still discussing the best scenario for 2024.

"What is certain is that the production volume will be targeted higher than the 2023 achievement, as well as in terms of net profit. We cannot convey the details yet because they are still in the discussion stage with shareholders," he said at the Public Expose Live 2023 Press Conference quoted Wednesday, November 29.

It is known that until September 2023, the company managed to record revenue of Rp6.4 trillion, resulting in EBITDA of Rp708.1 billion with a current year loss of Rp87.4 billion.

Meanwhile, in terms of production, the Director of Operations and Production of TINS, Nur Adi Kuncoro, is also targeting the same achievement as the 2023 target.

"In 2024 we are still compiling and planning to be in a position similar to 2023 for the production work plan," he said.

The same thing also applies in terms of production volume which is sought to match the target in 2023. However, he emphasized that this is still being discussed with shareholders so that it has not been officially decided.

Just so you know, TINS' tin ore production target in 2023 is set at 26,100 tons, while tin metal sales are targeted at 27,400 tons. Until the third quarter of 2023, TINS recorded lead ore production of 11,201 tons. This number has only been achieved 77 percent compared to the achievement of the same period the previous year of 14,502 tons.

Meanwhile, lead metal production of 11,540 metric tons or 82 percent was achieved compared to the same period the previous year of 14,130 metric tons. On the other hand, sales of lead metals were only reached by 11,100 metric tons. This number has only reached 72 percent compared to the same period the previous year of 15,325 metric tons.

To achieve this target, Nur Adi also explained a number of steps that the company will take, including increasing the production of suction ships, especially from partner smoking vessels, carrying out mining activities that have not been realized during 2023.

"Some of the things we will do is mine at sea. On the other hand, we are also increasing the processing of the Results of Processing (SHP). So the remaining processing of the dredge ship and objects in the land mine still make a significant contribution when we process it with more advanced processing technology," explained Nur Adi.

Then the next step is to increase capacity in primary mines in both Central Bangka, Paku, Pemali and Batu Iron Regions. Then, he continued, for land activities are mining in areas that overlap between the Private Uaha Permit (IUP) and the Right to Use Usaga (HGU) mining.

"Alhamdulillah, there has been good cooperation with the HGU facilitated by the National Land Agency (BPN) by making a land utilization agreement and it will be a progress that we will carry out in 2024," concluded Adi.