Indonesian mining giant PT ANTAM (Persero) (ASX:ATM) reports a net profit of Rp6.91 trillion ($543.53 million) for the first half of 2026, up 34% from the same period last year.
Earnings before interest, taxes, depreciation, and amortisation (EBITDA) rose 35% to Rp9.62 trillion in the first half of 2026 compared to Rp7.11 trillion in 1H25. Gross profit increased 32% to Rp10.85 trillion, while operating profit climbed 38% to Rp8.44 trillion. Basic earnings per share grew 36% to Rp265.85.
President Director Untung Budiharto says the company’s positive financial performance in the first half of 2026 was supported by stronger operational performance and ‘disciplined’ working capital management.
“This performance provides a solid foundation for ANTAM to further strengthen operational execution through its beyond operational excellence initiatives, enabling the company to become more competitive, adaptable, and well positioned to deliver sustainable growth,” Budiharto says.
Net sales rose 6% to Rp62.71 trillion, with domestic sales providing Rp60.15 trillion.
According to ANTAM, gold was the primary sales driver, contributing 80% of total revenue at Rp50.39 trillion. Sales volume also reached 18,080kg (581,286 troy ounces) while mine production delivered 433kg.
Meanwhile, the nickel segment generated Rp10.41 trillion, representing 17% of total sales. Mine output reached 7.78 million wet metric tonnes (wmt) of nickel ore with sales of 6.77 million wmt. Ferronickel production totaled 7,788 tonnes of nickel contained in ferronickel (TNi), while sales increased 32% to 7,605 TNi.
Bauxite and alumina generated Rp1.88 trillion, up 28%. Bauxite production reached 1.28 million wmt with sales of 1.26 million wmt. Chemical grade alumina output grew 12% to 100,257 tonnes, with sales reaching 100,437 tonnes.
Finally, total assets rose 27% to Rp61.27 trillion, while total equity grew 14% to Rp38.53 trillion. ANTAM held cash and cash equivalents of Rp9.23 trillion.
Director of Finance and Risk Management Arini Kasmira says the company remains focused on translating profitability into sustainable cash flows.
“ANTAM continues to strengthen discipline in working capital and inventory management, cash conversion, and prudent capital allocation,” Kasmira says.
PT ANTAM (Persero) is a diversified Indonesian state-owned mining and metals company focused on precious metals, nickel, bauxite, and alumina.
Write to Paula Fabe at Mining.com.au
Images: PT ANTAM
