TINS Profits Reach Rp1.31 Trillion, Exceeding Target by 119% Despite Production Decline
PT Timah Tbk (TINS) reported a net profit for the 2025 fiscal year of Rp1.31 trillion, achieving 119% of the company’s target. This achievement is noteworthy for investors as it demonstrates improved profitability amid a decline in tin production volume.
Based on disclosures to the Indonesia Stock Exchange (BEI) and the Financial Services Authority (OJK) on 23 April 2026, the company’s revenue for 2025 was recorded at Rp11.55 trillion, up 6.41% from Rp10.86 trillion in 2024. This increase was driven by higher average selling prices for tin metal.
PT Timah Tbk is a state-owned tin metal mining issuer operating in the mining and mineral processing sector.
Tin Prices Support Performance
Throughout 2025, the average tin price on the London Metal Exchange (LME) reached US$34,119.96 per tonne, up 13% from the previous year. This condition helped TINS maintain revenue despite lower sales volumes.
TINS’s tin ore production fell 4% to 18,635 tonnes of Sn from 19,437 tonnes of Sn previously. Tin metal production also declined 6% to 17,815 metric tonnes.
Meanwhile, tin metal sales dropped 5% to 16,634 metric tonnes. However, the average selling price rose to US$35,240 per metric tonne from US$31,181 per metric tonne.
Financial Position Strengthens
TINS’s total assets at the end of 2025 increased 6.75% to Rp13.64 trillion. The rise was mainly from an increase in trade receivables not yet due.
Liabilities were recorded at Rp5.23 trillion, up slightly by 0.80% from the end of 2024. Meanwhile, equity grew 10.83% to Rp8.41 trillion.
PT Timah Tbk’s President Director, Restu Widiyantoro, stated that the company focused on strengthening tin governance as well as optimising operations, marketing, and finance throughout 2025.
Exports Dominant, 2026 Prospects Open
As much as 95% of TINS’s tin metal sales came from exports and 5% domestic. The main export destinations include Singapore, South Korea, Japan, the Netherlands, Italy, and China.
Management stated that in 2026, the company will focus on aggressively recovering production capacity and strengthening downstream processing. Other strategies include sustainable efficiency, digitalisation, and strengthening ESG.
Based on data provided by the company, the projected tin price for 2026 is in the range of US$33,500 to US$48,750 per tonne. This has the potential to become a supporting factor for the global tin industry.
Conclusion
PT Timah Tbk recorded solid profit performance in 2025 despite declines in production and sales volumes. The rise in global tin prices was the main factor supporting revenue and profitability. The focus on production recovery and downstream processing in 2026 is something the market should monitor to assess the sustainability of TINS’s growth.