Antam Earns IDR 1.89 Trillion Net Profit In Semester I-2023

Illustration of Aneka Tambang (Photo; Antara)

JAKARTA - PT Aneka Tambang Tbk (ANTM) posted a profit for the current period of IDR 1.89 trillion in the first semester of 2023. This achievement increased 24 percent compared to the same period the previous year at IDR 1.53 trillion.

This member of the BUMN holding in the mining sector showed that the company's main commodity production and sales performance, has supported the achievement of earnings before interest, taxes, depreciation, and amortization (EBITDA) to be worth IDR 3.69 trillion in the first semester of 2023.

ANTM Corporate Secretary Syarif Faisal Alkadrie said the volatility of feronikel selling prices influenced by the second-class nickel supply and demand rate in the market had affected the company's financial performance during the first semester of 2023.

Quoting Antara, during the first semester of 2023, the company posted a gross profit of IDR 4.24 trillion, or an increase of 5 percent (yoy) from the previous IDR 4.03 trillion in the same period in 2022.

Meanwhile, the company's operating profit was recorded at IDR 2.33 trillion in the first semester of 2023 or grew 60 percent (yoy) compared to the previous IDR 1.46 trillion in the same period in 2022.

Syarief said the increase in operating profit contributed to the efficient management of operating expenses, which recorded a 25 percent decrease in operating expenses (yoy) in the first semester of 2023.

Then, the strengthening of the company's profitability is also reflected in the achievement of the net profit per ANTM basic share to IDR 78.64, or a growth of 24 percent compared to the previous IDR 63.50 per basic share.

Meanwhile, the company's net cash flow position obtained from operating activities was recorded at IDR 1.69 trillion in the first semester of 2023 or grew 96 percent (yoy) compared to the previous IDR 861.32 billion in the same period in 2022.

Syarif said that this achievement strengthens the company's financial structure, as reflected in the position of cash balance and cash equivalents which reached Rp6.58 trillion, or grew 104 percent (yoy) compared to the previous Rp3.23 trillion in the same period 2022.

During the first semester of 2023, Antam recorded a net sales value of IDR 21.66 trillion, or an increase of 15 percent (yoy) compared to the previous IDR 18.77 trillion in the same period in 2022.