PT Aneka Tambang Tbk, announce unaudited consolidated net profit which increased 175% to IDR1.663 trillion for the full year of 2010, from the IDR604 billion of the full year in 2009. The significant increase was mostly due to higher sales of ferronickel which had higher margins, as well as higher commodities prices.
Antam’s cost of sales decreased as management significantlyreduced precious metals trading activities, which generated lesser margins, in the beginning of 2010 to lower gold price risk fluctuations.
In 2010, Antam also able to save IDR225.5 billion through various efficiency measures to manage the costs. In 2011, the company aim to prioritize the start of construction of downstream projects such as the Tayan Chemical Grade Alumina plant.
Antam’s consolidated unaudited sales revenue of IDR8.745 trillion rose over IDR8.711 trillion in 2009 inline with significant increase of ferronickel sales in 2010. The increase of ferronickel sales was higher than the decrease of precious metals trading activities which was significantly reduced at the beginning of 2010 to reducethe risk of price fluctuation.
As Antam’s FeNi I, FeNi II and FeNi III smelters operated at optimal level in 2010, production
of ferronickel jumped 49% over 2009 to 18,688 tones nickel contained in ferronickel (TNi).
Coupled with higher demand, Antam’s ferronickel sales volume was 29% over 2009 to 18,254 TNi. Higher sales volume and a 49% increase of the average sales price of ferronickel to US$10.12 per lb., generated IDR3.679 trillion in 2010, a 71% jump over 2009.
As Antam’s FeNi I, FeNi II and FeNi III smelters operated at optimal level in 2010, production
of ferronickel jumped 49% over 2009 to 18,688 tones nickel contained in ferronickel (TNi).
Coupled with higher demand, Antam’s ferronickel sales volume was 29% over 2009 to 18,254 TNi. Higher sales volume and a 49% increase of the average sales price of ferronickel to US$10.12 per lb., generated IDR3.679 trillion in 2010, a 71% jump over 2009.
Antam’s nickel ore sales in 2010 also rose 20% over 2009 to 5,863,840 wmt. Higher sales
volume and increased nickel ore prices also boosted revenue from nickel ore business by 39% over 2009 to Rp2.364 trillion. In 2010, Antam’s nickel segment contributed 69% of 2010 sales.
volume and increased nickel ore prices also boosted revenue from nickel ore business by 39% over 2009 to Rp2.364 trillion. In 2010, Antam’s nickel segment contributed 69% of 2010 sales.
As Antam began the commercial operation of the Cibaliung gold mine, gold production rose 6%
over 2009 to 2,776 kg. Sales volume of gold decreased by 49% to 6,561 kg as Antam significantly
reduced precious metals trading activities to reduce the risk in price fluctuation.
over 2009 to 2,776 kg. Sales volume of gold decreased by 49% to 6,561 kg as Antam significantly
reduced precious metals trading activities to reduce the risk in price fluctuation.
Inline with lower sales volume, revenue from gold decreased by 45% to IDR2.354 trillion despite a 26% higher gold price over 2009 to US$1,227.47 per toz.
Antam’s gross profit in 2010 rose 144% over 2009 to IDR2.921 trillion inline with a 22% drop in cost of sales to IDR5.824 trillion, which was largely due to significant reduction of cost of precious
metals purchases.
Antam’s gross profit in 2010 rose 144% over 2009 to IDR2.921 trillion inline with a 22% drop in cost of sales to IDR5.824 trillion, which was largely due to significant reduction of cost of precious
metals purchases.
As Antam posted higher gross profit, gross margin jumped to 33% in 2010 over 14% in 2009.
Antam’s operating profit rose 238% to IDR1.988 trillion in 2010 over IDR588 billion in 2009. As
such, Antam’s operating margin rose to 23% in 2010 over 7% in 2009.
Antam’s operating profit rose 238% to IDR1.988 trillion in 2010 over IDR588 billion in 2009. As
such, Antam’s operating margin rose to 23% in 2010 over 7% in 2009.
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