Despite higher sales, Antam suffers Q1 loss
Friday, May 1 2015 - 08:14 AM WIB
IDX-listed mining firm PT Aneka Tambang Tbk (Antam) said that despite higher production and sales volume, it fell into the red in the first quarter of this year, booking a net loss of Rp 240 billion.
The company did not provide comparative figure for the first quarter of last year, and said the reason for the loss was due to non-cash ?other burdens.?
Antam said in a statement Thursday that ferronickel and gold production in the first quarter of this year increased by 36 percent and 6 percent, respectively compared to the volume in the corresponding period of last year.
Meanwhile, gold sales volume jumped by 63 percent year-on-year, making it the largest contributor to the company?s total sales (accounting for 68 percent, or Rp 1.94 trillion).
The company said that gross profit soared by 480 percent to Rp 257 billion in the first quarter of this year, compared ot the same period of last year. Meanwhile, operating profit reached Rp 56 billion in the first three months of this year from an operating loss of Rp 96 billion in the January-March period of last year.
Antam President Director Tedy Badrujaman said that the company would continue with various efficiency measures and existing planned projects. The company is also preparing to launch rights issue to raise funds for financing of various projects.
| Commodity | Unit | 1Q14 (Jan-Mar) 2014 | 1Q15 (Jan-Mar) 2015 |
| Ferronickel | TNi | 3,320 | 4,512 |
| Nickel Ore | Wmt | 178,459 | 432,471 |
| Gold | Kg/oz | 513/16,493 | 541/17,394 |
| Silver | Kg/oz | 3,853/123,877 | 3,970/127,639 |
| Bauxite | Wmt | 115,340 | 54,797 |
| Alumina | Ton | - | 10,686 |
| Commodity | Unit | 1Q14 (Jan-Mar) 2014 | 1Q15 (Jan-Mar) 2015 |
| Ferronickel | TNi | 5,523 | 4,247 |
| Nickel Ore | Wmt | 215,400 | - |
| Gold | Kg/oz | 2,323/74,686 | 3,792/121,916 |
| Silver | Kg/oz | 3,901/125,420 | 1,456/46,812 |
| Bauxite | Wmt | - | 49,365 |
| Alumina | Ton | - | 7,040 |
Editing by Reiner Simanjuntak