Antam's Revenue Jumps 40% in First Nine Months of 2024 Despite Global Challenges

[Antam's Revenue Surges by 40% Amid Global Challenges]

PT Aneka Tambang Tbk (Antam) has posted impressive performance in the first nine months of 2024, with a 40% increase in revenue compared to the same period last year, reaching IDR 43.20 trillion. The company reported a net profit of IDR 2.23 trillion and a positive EBITDA of IDR 3.93 trillion, overcoming global economic challenges and domestic regulations.

Antam's President Director, Nico Kanter, expressed pride in these results, emphasizing the company's commitment to maintaining stability and enhancing shareholder value. Strategies such as operational excellence and cost control led to a 19% reduction in operating expenses and a 14% decrease in financial expenses.

In the gold segment, Antam saw an 85% increase in sales, totaling IDR 35.70 trillion, supported by a strong domestic market presence. The company is also making strides in the nickel segment despite early-year licensing issues, with significant production and sales figures.

Aligning with the national downstream program, Antam is advancing its Smelter Grade Alumina Refinery project, aiming to bolster the supply chain and contribute to the electric vehicle battery ecosystem through strategic investments. Additionally, Antam has formed partnerships for mining endeavors to enhance local resource utilization and sustainable mining practices.