Antam's Gold Sales Soar, Profits Up 105% in 2022

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Adi Ahdiat 31/03/2023 11:10 WIB

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PT Aneka Tambang Tbk, also known as Antam, reported a net profit of Rp3.82 trillion in 2022, a 105% year-on-year increase and the highest in the last six years.

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Antam's Gold Sales Soar, Profits Up 105% in 2022

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Antam's Net Profit (2017-2022)

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PT Aneka Tambang Tbk (Antam) reported a net profit of Rp3.82 trillion in 2022. This figure represents a 105% year-on-year (YoY) increase and is the highest in the last six years.

Throughout 2022, the state-owned enterprise (SOE)'s net sales also increased by 19% (YoY) to Rp45.93 trillion. Approximately 80% of this came from domestic sales, while 20% was from exports.

Gold was the largest contributor, with sales of Rp31.63 trillion, or 69% of Antam's total sales.

"With this achievement in gold sales, Antam has once again recorded the highest gold sales in the company's history," said Syarif Faisal Alkadrie, Head of Antam's Corporate Secretary Division, in a press release (March 27, 2023).

"To improve the quality of service for our customers, Antam implements an online gold sales mechanism through the official website www.logammulia.com and through marketplaces Tokopedia, Shopee, and TikTok Shop, in addition to offline purchases at Antam's Logam Mulia Boutique network spread across 12 major cities in Indonesia," he continued.

Besides gold, Antam's 2022 sales were also contributed by nickel and bauxite-based commodities.

Starting in early 2023, Antam also launched a joint project with Hong Kong CBL Limited (HKCBL) to develop the electric vehicle battery ecosystem in Indonesia.

"This is in line with Antam's efforts to increase the added value of lateritic nickel ore, which is the raw material for electric vehicle (EV) batteries," said Syarif.

"In terms of developing downstream processing of bauxite commodities, the company is currently focusing on the construction of the Smelter Grade Alumina Refinery (SGAR) in Mempawah, West Kalimantan, developed in collaboration with PT Indonesia Asahan Aluminium," he continued.

The issuer with the code ANTM remains in the LQ45 index for the February-July 2023 period. LQ45 is a list of 45 issuers selected by the Indonesia Stock Exchange (IDX) based on certain criteria, such as having a large market capitalization and high liquidity.

Editor : Adi Ahdiat

"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."