JAKARTA - PT Aneka Tambang Tbk (ANTM) or Antam scored the highest revenue in history of IDR 69.19 trillion and recorded a profit for the current year of IDR 3.85 trillion. This profit achievement jumped 25 percent compared to the previous year of IDR 3.08 trillion.
Along with the increase in profit, Antam also recorded EBITDA growth of 3 percent to Rp6.73 trillion from the previous Rp6.55 trillion. Gross profit rose 3 percent to Rp6.50 trillion, and operating profit increased 15 percent to Rp3.00 trillion from Rp2.62 trillion in 2023.
Antam's President Director, Nico Kanter, said efficiency was also the key to the company's achievements throughout 2024. The company's operating expenses fell 5 percent to IDR 3.50 trillion, mainly due to reduced logistics and insurance costs due to licensing constraints that had affected nickel and bauxite sales.
The company also paid off an investment of IDR 1.68 trillion at the end of 2024, opening up additional space for business development funding in the future.
Nico further said that gold commodities will be the backbone of Antam's income in 2024 with a significant contribution of IDR 57.56 trillion, an increase of 120 percent compared to 2023 of IDR 26.12 trillion.
"This spike is driven by the world's rising gold prices and high domestic demand," he said.
Meanwhile, the gold sales volume also set a record high of 43,776 kg or 1,407,431 troy oz., growing 68 percent from 26,129 kg or 840,067 troy oz. in the previous year. All gold sales are focused on the domestic market.
In addition to gold, the nickel segment also contributed Rp9.50 trillion or 14 percent of total revenue, despite being faced with market challenges and licensing barriers.
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The volume of ferronickel production reached 20,103 tons of nickel in feronikel (TNi), with the sale of 19,452 TNi to export markets, such as China, India, and South Korea.
Meanwhile, nickel ore production reached 9.94 million wet metric tons (wmt), with sales of 8.35 million wmt, all for the domestic market, both to the Antam smelter itself and third parties.
Sales from the bauxite and alumina segment reached IDR 1.80 trillion, up 7 percent from IDR 1.69 trillion in 2023. Antam produced 1.33 million wmt bauxite with sales of 736,000 wmt.
"The challenge of licensing and not yet massive downstreaming in this sector is a factor limiting growth," he added.
For alumina, through the subsidiary of PT Indonesia Chemical Alumina (ICA), production reached 147,826 tons, with sales of 177,178 tons, an increase of 24 percent from the previous year.
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