Jakarta, CNBC Indonesia – Holding of the State-Owned Mining Company (BUMN), Mining Industry Indonesia aka MIND ID, recorded a surge in net profit throughout 2021. MIND ID’s net profit in 2021 jumped 687% to Rp 14.33 trillion from Rp 1.82 trillion in 2020.
MIND ID President Director Hendi Prio Santoso said, “The company’s positive performance growth is supported by the synergy of all MIND ID Group personnel in implementing all the strategic plans that have been set.”
“Operational innovation is carried out to improve cost competitiveness, besides that the company also pays main attention to new opportunities that support business growth in the future,” he said, as quoted from the company’s official statement, Thursday (07/04/2022) .
MIND ID recorded a total revenue of IDR 93.75 trillion in 2021 or an increase of 40% compared to 2020 of IDR 66.57 trillion.
The three biggest contributors to the company’s revenue are coal,
gold and tin by 32%, 28% and 13%, respectively. Meanwhile, aluminum contributed 9%, ferronickel 7%, nickel ore 5% and others 6%.
Hendi said, the excellent growth in operational and financial performance in 2021 is the company’s commitment as a manager of one of the strategic sectors that can support the strengthening and recovery of the Indonesian economy in the midst of a pandemic.
In 2021, the global economy will respond more positively to more controlled pandemic conditions. Likewise in Indonesia, which shows an improvement in the economy compared to 2020.
“MIND ID certainly carries out a strategic policy of business governance in the mining industry that is adapted to the Covid-19 pandemic. Increasing the effectiveness of production and sales of the MIND ID Group by taking advantage of the momentum of improving global commodity prices, has supported the company’s excellent performance growth in 2021,” he explained.
He said, Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) throughout 2021 was recorded at IDR 28.06 trillion, an increase of 149% compared to 2020 of IDR 11.26 trillion.
With the effectiveness of production and sales performance in all mineral commodities of the MIND ID Group, ranging from gold and refining services for precious metals, coal, tin and tin solder, aluminum, ferronickel, and nickel ore, the company recorded an achievement of gross profit in 2021 of Rp 26 .41 trillion and operating profit of Rp. 16.67 trillion.
The MIND ID group members include PT Aneka Tambang Tbk (ANTM), PT Bukit Asam Tbk (PTBA), PT Freeport Indonesia, PT Inalum (Persero) and PT Timah Tbk (TINS).
(wia)
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