[ferro-alloys.com] PT Aneka Tambang Tbk (ANTAM; IDX: ANTM; ASX: ATM) is pleased to announce positive result on Company’s operation and financial unaudited performance for the first half of 2019 (1H19).
In 1H19 ANTAM’s record net profit of Rp365.75 billion, rose 6% compared to net profit of Rp344.45 billion on the first half of 2018 (1H18). The solid performance of ANTAM’s production and sales figure in 1H19 are also reflecting on Company’s net sales number, amounted to Rp14.43 trillion, increase 22% compared to 1H18 net sales figure of Rp11.82 trillion. ANTAM’s solid financial performance was also reflected from Earning Before Interest, Taxes, Depreciation and Amortization (EBITDA) in 1H19 which amounted to Rp1.46 trillion, an increased of 6% from 1H18 EBITDA level of Rp1.38 trillion. Gold is the largest contributor for ANTAM’s revenue, amounted to Rp9.61 trillion or 67% of total net sales in 1H19.
Positive performance of ANTAM’s operation and sales of company’s main commodity on 1H19 also reflected on ferronickel production volume achievement that reached 13,017 ton nickel in ferronickel (TNi), rose 2% compared to ferronickel production volume of 12,811 TNi in 1H18. Along with the rise on production volume, ferronickel sales on 1H19 reached 13,157 TNi or increased 5% compared to 12,579 TNi on 1H18. In 1H19, ferronickel sales was the second largest contributor to ANTAM's sales, amounting Rp2.31 trillion or 16% of total sales on 1H19.
On nickel ore commodity, production volume of nickel ore in 1H19 amounted to 4.79 million wet metric ton (wmt), or increase up to 27% compared to 3.77 million wmt in 1H18. Meanwhile, total nickel ore sales volume reached 3.90 million wmt, increased by 103% compared to nickel ore sales volume of 1.92 million wmt in 1H18. ANTAM’s revenue from nickel ore amounted to Rp1.76 trillion in 1H19, a 107% growth compared to nickel ore sales revenue in 1H18. In addition, bauxite commodity also delivered positive contribution for Company’s performances during 1H19 period. Bauxite production volume posted 597 thousand wmt, an increase of 43% YoY with sales volume amounted to 611 thousand wmt, that increased by 138% YoY. In 1H19, revenues from the sales of bauxite were recorded at Rp296 billion, increase 136% compared to 1H18.
ANTAM main project under development includes of East Halmahera Ferronickel Plant Development Project (P3FH) with production capacity of 13,500 TNi (Line 1). In 1H19 construction progress reached 97%. After completion of P3FH (Line 1), ANTAM’s ferronickel annual production capacity will increase to 40,500 TNi from the existing production capacity of 27,000 TNi (increase by 50%). On bauxite commodity, ANTAM is currently focusing on the development of Smelter Grade Alumina Refinery (SGAR) plant with PT INALUM (Persero) with an estimated total production capacity of up to one million ton SGA per annum (Stage 1).