MIND ID Achieves Net Profit of Rp 9.8 Trillion in Q3 2021

State-Owned Enterprises (SOEs) Mining Industry Holding, Mining Industry Indonesia (MIND ID), recorded a net profit of Rp 9.8 trillion until September 30, 2021. The net profit of the SOE holding company, whose members include PT Aneka Tambang Tbk (Antam), PT Bukit Asam (PTBA), Freeport Indonesia, PT Inalum, and PT Timah, increased by 799% compared to the third quarter of 2020, which recorded a net loss of Rp 1.4 trillion.

MIND ID prioritizes the operational aspects of its members. One example is its innovation in creating more effective and efficient business processes, while strictly adhering to health protocols.

Furthermore, MIND ID booked total revenue of Rp 63.8 trillion until September 2021. This figure is 35% higher than the same period in the previous year.

Three main contributors to revenue came from coal, gold, and tin commodities. The company recorded a Net Profit Margin of 15.4%, up from -3% last year.

MIND ID's profitability is also demonstrated by its achievement of Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) of Rp 19.8 trillion with a margin of 31%. This figure is 179% higher than last year.