Antam 1H net sales down 35% on weak commodity price, export ban
Saturday, August 2 2014 - 02:05 AM WIB
IDX-listed mining company PT Aneka Tambang Tbk (Antam) reported Friday that unaudited net sales in the first semester of this year tumbled by 35 percent to Rp 3.99 trillion compared to the figure in the same period of last year due to a combination of weak price of commodities such as nickel and gold, and the introduction of the mineral ore export ban by the government in January.
Gold made up the largest share of the first-half 2014 unaudited net sales with a 49 percent contribution, or amounting to Rp1.95 trillion, the company said, adding that financial reports for the first half of 2014 is currently under limited review and will be available on August 29, 2014, at the latest.
In the second quarter of 2014 (2Q14), Antam recorded an unaudited revenue of Rp1.68 trillion, 40 percent lower compared to the same period in 2013.
Ferronickel sales volume in the first semester of 2014 was recorded at 8,900tons of nickel contained in ferronickel (TNi), 27 percent higher than the sales achievement in the first semester of 2013 of 7,028 TNi
Bauxite production volume in the first semester of 2014 grew significantly by 128 percent to 190,359 wet metric ton (wmt) compared to the first semester of 2013 in line with the preparation program for the operation of the Tayan Chemical Grade Alumina (CGA) plant.
Gold and refinery segment was the largest contributor to Atam's unaudited revenue in the first semester of 2014, amounting to Rp2.07 trillion or 5 percent of the total net sales of Rp3.99 trillion.
| Commodity | Unit | 2Q13 (April-June) 2013 | 1H13 (Jan-June) 2013 | 2Q14 (April-June) 2014 | 1H14 (Jan-June) 2014 |
| Ferronickel | TNi | 5,159 | 10,166 | 4,258 | 7,579 |
| High-Grade Nickel Ore | Wmt | 2,033,852 | 4,059,093 | 218,002 | 396,461 |
| Low-Grade Nickel Ore | Wmt | 776,265 | 2,014,871 | - | - |
| Total Nickel Ore | Wmt | 2,810,117 | 6,073,964 | 218,002 | 396,461 |
| Gold | Kg/Toz | 657/21,123 | 1,266/40,703 | 659/21,187 | 1,172/37,681 |
| Silver | Kg/Toz | 5,818/187,053 | 8,905/286,302 | 5,437/174,804 | 9,290/298,680 |
| Bauxite | Wmt | 43,245 | 83,568 | 75,019 | 190,359 |
| Commodity | Unit | 2Q13 (April-June) 2013 | 1H13 (Jan-June) 2013 | 2Q14 (April-June) 2014 | 1H14 (Jan-June) 2014 |
| Ferronickel | TNi | 3,244 | 7,028 | 3,377 | 8,900 |
| High-Grade Nickel Ore | Wmt | 1,528,144 | 2,614,444 | - | 104,350 |
| Low-Grade Nickel Ore | Wmt | 328,828 | 1,883,135 | - | 111,050 |
| Total Nickel Ore | Wmt | 1,856,972 | 4,497,579 | - | 215,400 |
| Gold | Kg/Toz | 2,584/83,077 | 5,493/176,604 | 1,604/51,570 | 3,926/126,224 |
| Silver | Kg/Toz | 6,062/194,898 | 9,714/312,312 | 6,826/219,461 | 10,727/344,881 |
| Bauxite | Wmt | 27,850 | 53,961 | 28,987 | 28,987 |
Editing by Reiner Simanjuntak