Growth Trend Continues, ANTAM Records Profit of Rp3.66 Trillion in Q1 2026

Jakarta, CNBC Indonesia - PT ANTAM (Persero) Tbk (ANTM) has once again recorded an improvement in its financial performance for the first quarter of 2026. This achievement was attained amid ongoing global challenges, including commodity price fluctuations, escalating geopolitical tensions in the Middle East, and a slowdown in global economic growth.

ANTAM’s financial performance was driven by increasingly strong operational fundamentals, reflected in the optimal performance of the nickel segment, strengthened gold sourcing to ensure supply continuity, and the commencement of operations at the smelter-grade alumina (SGA) plant, which bolsters growth in the bauxite and alumina segment.

In Q1 2026, ANTAM recorded growth in profitability, with net profit for the period reaching Rp3.66 trillion, a 58% increase from Rp2.32 trillion in Q1 2025.

In line with this improvement, ANTAM also posted a 55% growth in Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA), achieving Rp5.05 trillion in Q1 2026 compared to Rp3.26 trillion in Q1 2025.

ANTAM’s President Director, Untung Budiharto, stated that this positive financial performance was also supported by the company’s consistency in implementing adaptive and innovative marketing strategies, as well as effective and disciplined cost control across all operational lines.

ANTAM’s profitability growth in Q1 2026 is reflected in gross profit of Rp5.62 trillion, a 54% increase from Rp3.64 trillion in Q1 2025. Accordingly, operating profit in Q1 2026 reached Rp4.50 trillion, growing 67% from Rp2.69 trillion in Q1 2025.

This performance was also supported by a 15% rise in other income to Rp279.60 billion, from Rp243.64 billion in Q1 2025. The improved performance also drove an increase in basic earnings per share to Rp141.77, up 60% from Rp88.69 in Q1 2025.

In the balance sheet position, ANTAM recorded total assets of Rp63.30 trillion in Q1 2026, a 31% increase from Rp48.30 trillion in Q1 2025. Asset growth reflects business expansion and strengthened operational capacity to support sustainable performance.

Equity value also increased 17% to Rp40.41 trillion, from Rp34.62 trillion in Q1 2025. Meanwhile, cash and cash equivalents stood at Rp9.04 trillion, up 31% from Rp6.92 trillion in Q1 2025, reflecting the company’s financial flexibility in supporting operational needs and business development.

“ANTAM continues to commit to implementing good mining practices and operational excellence in all operational activities to realise sustainable business,” he said on Wednesday (29/4/2026).

In Q1 2026, ANTAM recorded optimal production and sales performance. Net sales reached Rp29.32 trillion, a 12% growth from Rp26.15 trillion in Q1 2025.

Domestic sales contributed Rp28.31 trillion, or 97% of total net sales. This growth aligns with the strategy to strengthen the domestic customer base, particularly for gold, nickel ore, and bauxite ore products.

“The implementation of robust operational strategies and prudent, disciplined financial management has driven sustained performance strengthening, thereby providing positive returns and added value for shareholders,” Untung added.

In Q1 2026, the gold segment contributed around 81% to total sales. Gold sales grew 11% to Rp23.89 trillion, from Rp21.61 trillion in Q1 2025.

Through strengthened domestic marketing strategies, gold sales volume reached 8,464 kg (272,124 troy oz). To ensure raw material supply continuity, ANTAM signed a Gold Sales and Purchase Agreement (GSPA) with the Merdeka Group on 4 March 2026. This collaboration is a strategic step in strengthening national gold sovereignty while ensuring supply continuity for the domestic industry.

The nickel segment (ferronickel and nickel ore) contributed 15% or Rp4.47 trillion to total sales in Q1 2026, up 19% from Rp3.77 trillion in Q1 2025.

Nickel ore production reached 3.88 million wet metric tons (wmt), with sales volume of 3.40 million wmt, all absorbed by the domestic market. Meanwhile, ferronickel production was recorded at 3,976 tons of nickel in ferronickel (TNi), with sales volume reaching 2,803 TNi. All ferronickel sales were absorbed by the export market.

The bauxite and alumina segment contributed 3% to total sales with a value of Rp879.14 billion, up 24% from Rp708.75 billion in Q1 2025.

Bauxite production reached 628,785 wmt, in line with mine capacity and productivity optimisation, as well as increased domestic market absorption. Sales volume was recorded at 593,476 wmt, up 9% from 544,750 wmt in Q1 2025.

In line with the optimisation of CGA plant operations, alumina production (chemical grade alumina) reached 49,566 tons, a 13% increase from 44,051 tons in Q1 2025. On the sales side, 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 measured and sustainable strategies,” he concluded.