Aneka Tambang (ANTM) is optimistic that it can improve its financial performance in the remainder of this year

ILLUSTRATION. The nickel processing plant owned by PT Aneka Tambang Tbk

Reporter: Dimas Andi | Editor: Anna Suci Perwitasari

KONTAN.CO.ID – JAKARTA. In general, the financial performance of PT Aneka Tambang Tbk (ANTM) during the current year this has been less than satisfactory. However, ANTM still sure the room for improvement in performance until the end of the year will remain open.

For your information, ANTM experienced a decrease in net profit of 80.18% (yoy) to Rp 84.82 billion in the first semester of 2020. At the same time, the state-owned company revenue also shrank 36.04% (yoy) to Rp 9.22 trillion.

Senior Vice President Corporate Communication Aneka Tambang Kunto Hendraprawoko said that the Covid-19 pandemic was one of the main factors affecting ANTM’s performance like other industries in general.

“Policy lockdown Several destination countries for ferronickel exports, especially in the first quarter of 2020, have quite affected the company’s performance, ”he said, Monday (12/10).

Also Read: Today Antam’s gold price fell by Rp 2,000 to Rp 1,017,000 per gram, Monday (12/10)

However, amidst global economic uncertainty, the performance of profitability ANTM actually still awake. This is reflected in the realization of Earning Before Interest, Taxes, Depreciation, and Amortization (EBITDA) in the first semester of 2020 which reached IDR 828 billion.

This positive EBITDA was supported by stable operating performance and sales of key commodities ANTM as well as efficiency improvements that lead to the fulfillment of optimal company operating cash cost levels.

If traced, gold is still the largest contributor to sales ANTM until the first semester of 2020, which amounted to Rp 6.41 trillion, equivalent to 69% of the total sales of the state-owned company.

In the first semester also the precious metals and refining operations segment of ANTM, an index member Kompas100 This, recorded an operating profit of Rp 495.16 billion with a gold sales rate of 7,915 kilograms. This result grew 111% (yoy) compared to the results in the first semester of 2019 of Rp 234.94 billion, even though the volume of gold sales at that time reached 15,741 kilograms.

Kunto said, along with the adaptation phase for new habits, economic conditions and global commodity demand began to experience an improving trend in the second semester.

“We continue to strive to improve production and sales of key commodities through efficiency, innovation, and market adaptation amid pandemic conditions, so that the company is expected to record better performance at the end of the year,” he said.