MIND ID Net Profit Increases 22 Percent To IDR 27.5 Trillion In 2023

JAKARTA - Mining SOE Holding MIND ID recorded a net profit of IDR 27.5 trillion throughout 2023. This figure has increased by 22 percent from the acquisition in 2022 which amounted to IDR 22.5 trillion.

President Director of MIND ID Hendi Prio Santoso revealed that over the past three years, the company's financial performance has improved. Where in 2021 it will reach IDR 14.3 trillion. Then, in 2022 it will be IDR 22.5 trillion, and in 2023 it will be IDR 27.5 trillion.

"Alhamdullilah, since 2021, the total growth rate has increased by 39 percent since 2021," he said in a meeting with Commission VI of the DPR, at the DPR RI Complex, Senayan, Jakarta, Monday, June 3.

Hendi said the positive performance was also followed by MIND ID's asset growth of Rp. 204.9 trillion in 2021, then an increase of Rp. 229.3 trillion in 2022, up again to Rp. 259.2 trillion in 2023. Meanwhile, the total increase in assets from 2022 to 2023 reached 12 percent.

Although performance increased, MIND ID's deposit to the state actually decreased in 2023. This deposit is in the form of taxes, non-tax state revenues (PNBP), and royalties.

Hendi said the value of the deposit to the state in 2021 reached IDR 32.6 trillion. Meanwhile, in 2022 it reached IDR 58.1 trillion, but decreased in 2023 to IDR 49.6 trillion.

Furthermore, Hendi explained that the increase in net profit that was not in line with deposits to the country was due to a decrease in the price of a number of mining commodities.

The decline in mining commodity prices has made deposits at the income tax post of business entities or corporate income tax lower. In 2022, the value will reach Rp33.60 trillion, while in 2023 it will be Rp23.66 trillion.

"So the decline was due to the decline in the price of some mining commodities in the MIND ID group," he said.

Hendi also revealed that commodities that experienced a significant decline in 2023 were coal. Then, tin and nickel, especially derivative commodities, namely ferronickel.

Even so, Hendi said, in terms of dividend deposits to the state, MIND ID recorded an increase. In 2022 dividend deposits reached IDR 900 billion, and in 2023 the deposits increased significantly to reach IDR 7.5 trillion.

"For 2021, we have not been asked to deliver dividends to the state," he explained.