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Quarter III Antam Achieves Profit 38.3 Billion

Jakarta (Benchmark News) – PT Antam Tbk (Persero) able to record significant increase in profitability for the period January-September 2016. For the period, Antam was able to record a profit of Rp 38.3 billion. Whereas, for the same period the previous year, the company recorded a loss of Rp 1.04 trillion.

Financial Director Antam Dimas Wikan Pramudhito says nothing net profit in quarter III financial performance showed the 2016 the company was back on the right track to provide profitability and good returns to shareholders.

“Optimization of production and sales as well as the ongoing efficiency including increased sales of nickel ore to smelters in the country will be more intensified so that performance will become increasingly positive Antam,” Dimas said in his statement on Tuesday (1/11/1999).

Antam’s net sales until September 2016 was recorded at Rp 6.45 trillion with export market became the largest market with a 59 percent contribution or Rp trillion 3.79.

Export performance Antam gained the appreciation of the Government with the acquisition of the 2016 Primaniyarta Award for the category of the exporter Performs 2016.

Primaniyarta award is the highest award given by the Government of the Republic of Indonesia through the Ministry of Commerce to the national export-oriented trade that rated top achievers in boosting export of non oil and gas.

Gold is still the largest contributor to net sales value of Rp Antam 4.36 trillion, or 68 percent of total sales in the quarter 3 2016.

The second largest contributors being Feronikel sales Antam until September 2016 contributed to Rp1,49 trillion, or 23 percent of total sales. Sales of nickel ore to smelters in the country had already contributed Rp 248 billion or 4 per cent of total sales.

The III quarter of 2016, Antam capital expenditure was recorded at Rp 841.8 billion, comprising Rp 190.1 billion to Rp, routine investment 642.2 billion for the development and investment of Rp 9.5 billion for deferred fees. Capital expenditure for the development investment is mainly used for the completion of the expansion project Pomalaa Feronikel Plant (P3FP) with a total investment of Rp 561.7 billion.

Antam was completed to PROVIDE coal 2x30MW is part of P3FP and preparing in the settlement of P3FP with the estimation of commercial operation by the end of the year 2016.

While in Project Construction Feronikel Haltim (P3FH), ANTAM has appointed a consortium of unincorporated Kawasaki Heavy Industries, Ltd. (GENGHIS) and PT Wijaya Karya (Persero) Tbk (WIKA) as the winner of the tender contract EPC (Engineering, Procurement and Construction) P3FH turnkey phase 1 Line 1 with contract value amounting to Rp 3.42 trillion.

To support the funding of development projects, Antam cooperation in finance up to an amount of US $ 1.5 billion with PT Bank ICBC Indonesia.

This cooperation may take the form of short-term loans including working capital loans and long-term loans including loans for investment purposes, the acquisition, the company’s subsidiary, the construction of a new factory, and the development of means of production or means of distribution.

In quarter III 2016, Antam also continue efforts efficiency and managed to save Usd 23.1 billion. The savings made in the use of the materials for operational activities at the business units as well as negotiating contracts with third parties.

With the cash cost was US $ feronikel 3.38 per lb and the cash cost of gold was US $ 837.07 per oz, Antam remains committed to be one of the manufacturers of feronikel and low-cost…(Red)

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