Jakarta, TAMBANG, – Another positive performance was recorded by the state-owned mining company PT ANTAM (Persero), Tbk (ANTM). The issuer, also known as ANTAM, again recorded an increase in financial performance in the first quarter of 2026. This achievement was achieved amidst ongoing global challenges, including fluctuations in commodity prices, increasing geopolitical tensions in the Middle East region, and slowing global economic growth.
Solid Operational Execution
ANTAM’s financial performance is driven by increasingly strong operational fundamentals. This is reflected in the optimal performance of the nickel segment, strengthening sourcing gold to maintain continuity of supply. Then the start of operation of the smelter grade alumina (SGA) factory helped strengthen the growth of the bauxite and alumina segments.
In the first quarter of 2026, ANTAM recorded profitability growth with a profit for the period of IDR 3.66 trillion. An increase of 58% compared to the first quarter of 2025 of IDR 2.32 trillion. In line with this increase, ANTAM also posted growth Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) of 55%. The company also posted an EBITDA achievement for the first quarter of 2026 of IDR 5.05 trillion. Meanwhile, EBITDA for the first quarter of 2025 was recorded at IDR 3.26 trillion.
ANTAM President Director Untung Budiharto explained that the positive financial performance achievements were also supported by the Company’s consistency in implementing adaptive and innovative marketing strategies. The company also carries out effective and disciplined cost control in all operational lines.
ANTAM’s profitability growth in the 2026 quarter is reflected in gross profit of IDR 5.62 trillion. This achievement shows an increase of 54% compared to quarter 1-2025 of IDR 3.64 trillion. In line with this, operating profit in the first quarter of 2026 reached IDR 4.50 trillion or grew 67% from IDR 2.69 trillion in the first quarter of 2025. This performance was also supported by an increase in other income of 15% to IDR 279.60 billion, from IDR 243.64 billion in the first quarter of 2025.
This improved performance also contributed to an increase in net profit per basic share to IDR 141.77 per basic share, or an increase of 60% compared to IDR 88.69 per basic share in 1Q25.
In the financial position report, ANTAM posted total assets of IDR 63.30 trillion in 1Q26, an increase of 31% from IDR 48.30 trillion in 1Q25. Asset growth reflects business expansion and strengthening operational capacity to support sustainable performance.
Equity value also increased 17% to IDR 40.41 trillion, from IDR 34.62 trillion in 1Q25. Meanwhile, cash and cash equivalents were recorded at IDR 9.04 trillion, up 31% from IDR 6.92 trillion in 1Q25, reflecting the Company’s financial flexibility in supporting operational needs and business development.
Operational Optimization to Support Company Performance
ANTAM continues to be committed to implementing good mining practices and operational excellence in all operational activities to realize a sustainable business. In the first quarter of this year, ANTAM recorded optimal production and sales performance.
Net sales reached IDR 29.32 trillion, growing 12% compared to IDR 26.15 trillion in the same period last year. Domestic sales contributed IDR 28.31 trillion or the equivalent of 97% of total net sales. This growth is in line with the strategy to strengthen the domestic customer base, especially in gold, nickel ore and bauxite ore products.
“Implementation of tough operational strategies and disciplined and prudent financial management has encouraged continuous strengthening of performance, thereby providing positive returns and added value for shareholders,” added Untung Budiharto.
In the first quarter of 2026, the gold segment contributed around 81% to total sales. Gold sales grew 11% to IDR 23.89 trillion, from IDR 21.61 trillion in the first quarter of last year. Through strengthening domestic marketing strategies, gold sales volume reached 8,464 kg (272,124 troy oz.).
To ensure sustainable supply of raw materials, ANTAM signed a Gold Sales & Purchase Agreement (GSPA) with Merdeka Group on March 4 2026. This collaboration is a strategic step in strengthening national gold sovereignty while ensuring continuity of supply for the domestic industry.
The nickel segment (ferronickel and nickel ore) contributed 15% or IDR 4.47 trillion to total sales in the first quarter, an increase of 19% from IDR 3.77 trillion in the first quarter of 2025.
Nickel ore production reached 3.88 million wet metric tons (wmt), with a sales volume of 3.40 million wmt, all of which was absorbed by the domestic market. Meanwhile, ferronickel production was recorded at 3,976 tons of nickel in ferronickel (TNi), with a sales volume reaching 2,803 TNi. All ferronickel sales are absorbed by the export market.
The bauxite and alumina segment contributed 3% to total sales with a value of IDR 879.14 billion, an increase of 24% compared to IDR 708.75 billion in the same period last year.
Bauxite production reached 628,785 wmt, in line with optimizing mine capacity and productivity as well as increasing domestic market absorption. Sales volume was recorded at 593,476 wmt, up 9% from 544,750 wmt in the first quarter of last year.
In line with the optimization of CGA factory operations, alumina (chemical grade alumina) production reached 49,566 tons, an increase of 13% compared to 44,051 tons in the same period in 2025. In terms of sales, volume was recorded at 49,072 tons, growing 11% from 44,048 tons.
With a solid operational foundation and healthy financial condition, the Company is optimistic about maintaining growth momentum and facing global dynamics through a measurable and sustainable strategy.
Source: tambang.co.id
