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PT Aneka Tambang Tbk, or Antam, recorded sales of Rp9.75 trillion (approximately US$660 million) with a net profit of Rp1.47 trillion (approximately US$100 million) in the first quarter of 2022. This performance continues the company's positive achievements from 2021.
Antam's sales grew by 5.8% year-on-year (YoY) in Q1 2022 compared to Q1 2021. A 3.75% YoY decrease in the cost of goods sold resulted in an expanded margin.
This led to Antam's gross profit surging by 50.3% YoY, from Rp1.63 trillion to Rp2.45 trillion. Net profit also soared by 132.6%, from Rp630.38 billion to Rp1.47 trillion.
As of March 31, 2022, Antam recorded total assets of Rp31.54 trillion. Equity was recorded at Rp22.3 trillion, and liabilities at Rp9.24 trillion.
Antam will focus on expanding its domestic customer base throughout 2022. This development will primarily target the marketing of gold, nickel ore, and bauxite products.
(read: Three Mining SOE Emitters Distribute Dividends, How Much is the Contribution to the State?)
"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."
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