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PRESS RELEASE
FOR IMMEDIATE RELEASE


                              AMMAN Reports 2023 Interim Results
         Resilient Despite Inclement Weather and Export Restriction

Key Highlights
•   H1/2023 concentrate production of 233,618 metric tons with sales of 137,828 metric tons
•   H1/2023 copper production of 134 Mlbs with sales of 76 Mlbs
•   H1/2023 gold production of 172 Koz with sales of 119 Koz
•   H1/2023 EBITDA of US$336 million
•   Maintained Minancial resilience despite four months of government-imposed export restriction; a new export
    permit was obtained in July 2023
•   Maintained operational resilience despite unprecedented rainfall, with earlier-than-planned Phase 7 fresh
    ore access due to faster-than-expected pit dewatering
•   Focused on scheduled expansion program



Jakarta, 29 September 2023 – PT Amman Mineral Internasional Tbk (IDX: AMMN) (“AMMAN, the
“Company,” or “we”), a fully integrated and globally signiCicant copper and gold producer, today announced
its six-month Cinancial and operational results ended 30 June 2023.


“We managed to overcome multiple exogenous challenges and maintained optimal utilization of our plant
and equipment in very challenging conditions. We experienced severe rainfall, nearly double the historical
yearly average, for almost seven months from October 2022 to April 2023. During that time, we could not
access fresh ore from Phase 7, and we focused instead on the Phase 8 waste removal to optimize operations.
As we transitioned to dry season, we stepped up the pumping of pit water, enabling us to access the high-
grade fresh ore one-and-a-half months ahead of schedule. As a result, we will surpass pre-IPO production
targets for FY2023,” said Alexander Ramlie, President Director of AMMAN. “We will continue to focus on
operational improvement and remain committed to sustainable practices in our mining, processing, and
smelting activities. AMMAN is well-positioned to capitalize on the growing demand for copper globally, which
is essential for the transition to cleaner and more sustainable energy sources. We aim to be a major force in
supporting the country’s strategic focus on downstream development and empowering neighboring
communities.”


“Despite being unable to sell our concentrate due to the delayed issuance of our export permit from April 1
to July 24, 2023, we maintained Cinancial resilience and a healthy cash position during the Cirst half of 2023.
We swiftly sold four months’ worth of concentrate inventories within six weeks of receiving the export permit
in July 2023,” said Arief Sidarto, Director of Finance of AMMAN. “Our results highlight the operational
discipline and prudent Cinancial management to which we continuously adhere. We remain on track to deliver
stronger second-half results and achieve improved full-year 2023 guidance. We are expected to complete
more than 70% of our smelter project by December 2023, with mechanical completion targeted in May 2024.”




                                                                                                                 1
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AMMAN H1/2023 Key Operational and Financial Highlights
                                                H1/2023                    H1/2022                   % Change
  Operating metrics
  Copper production (Mlbs)                             134                   209                      (36)%
  Copper sold (Mlbs)                                     76                  187                      (59)%
  Copper price nett (US$/lb)                           4.48                  4.23                         6%
  Gold production (Koz)                                172                   350                      (51)%
  Gold sold (Koz)                                      119                   322                      (63)%
  Gold price nett (US$/oz)                           2,004                 1,852                          8%
  Materials mined (Mt)                                 140                   150                        (6)%
  Mill throughput (Mt)                                   18                    21                     (12)%
                                                H1/2023                    H1/2022                   % Change
  Financial metrics ($m)
  Total net sales                                      581                 1,387                        (58)%
  EBITDA                                               336                   871                        (61)%
  Net income                                           122                   565                        (78)%
  C1 cash cost (US$/lb)                              (1.31)                (0.25)                       427%
  Adjusted C1 cost (US$/lb)1                         (0.90)                (1.06)                       (15)%
  Capex                                                436                   312                          40%
  Cash and cash equivalents                            650                   763                        (15)%

1 Adjusted for amortization of deferred stripping cost and movement in stockpiles and concentrate inventories




Production


In the Cirst half of 2023, AMMAN’s mining operations continued efCiciently and were on track to match FY2022
Cigures in total metric tons mined, despite external headwinds. From October 2022 to April 2023, the Batu
Hijau mine experienced extreme and unprecedented rainfall, which caused delays in extracting Phase 7 fresh
ore. Consequently, our mining operations shifted focus entirely to the Phase 8 pit cutback (waste removal),
allowing accelerated access to Phase 8 ore. As the rainy season subsided and the dry season commenced, we
intensiCied pit water pumping and gained access to the Phase 7 high-grade ore earlier than expected in July
2023.


Our processing operations continued at full capacity throughout H1/2023, despite delays in Phase 7 ore
mining and product shipments. We managed to produce 134 Mlbs of copper and 172 Koz of gold in H1/2023,
reClecting the operational resilience of our business.


Net sales


In H1/2023, AMMAN generated copper sales of 76 Mlbs with an average selling price of US$4.48 per pound
and gold sales of 119 Koz with an average selling price of US$2,004 per ounce. There was a four-month delay
in copper and gold sales during the period due to the expiration of AMNT’s export permit in March 2023. The
concentrate was stored in the barn until the new export permit was subsequently granted in July 2023.
Shortly after we received the permit, we managed to sell four months of inventories within six weeks.



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Between H1/2022 and H1/2023, the average selling price for copper increased from US$4.23 per pound to
4.48 per pound (net), whereas for gold, it increased from US$1,852 per ounce to US$2,004 per ounce (net).


EBITDA


AMMAN reported EBITDA of US$336 million in H1/2023, representing a 61% decrease from US$871 million
in H1/2022, primarily driven by a fall in revenues due to the delays in receiving our export permit, as well as
the increase in the cost due to the processing of lower grade stockpiled ore. EBITDA margin was 58% in
H1/2023 as compared to 63% in the same period last year. These outcomes were previously forecasted and
communicated during the IPO process, and there have been no surprises.


Net income


Our net income in H1/2023 was also affected by our inability to export our concentrate, down 78% to US$122
million compared to US$565 million in H1/2022. Net income margin was 21%, compared to 41% in the same
period last year.


C1 cash cost & adjusted C1 cost


We maintained our strong low-cost position globally with a C1 cash cost of negative US$1.31 per pound for
H1/2023, compared to negative US$0.25 per pound for H1/2022 as we removed 37% more Phase 8 waste in
H1/2023 and the associated deferred stripping costs were capitalized.


We also calculated the adjusted C1 cost, which we believe is more accurate due to the large amount of
stockpiles that have not been considered in the regular C1 cash cost formula. The adjusted C1 cost takes into
account the amortization of deferred stripping costs as well as the movement in stockpiles and concentrate
inventories. Our adjusted C1 cost was negative US$0.90 per pound for H1/2023, compared to negative
US$1.06 per pound for H1/2022.


Capex


AMMAN’s total capital expenditure in H1/2023 was US$436 million, with the breakdown as follows: capital
expenditure related to the need to purchase mining equipment, build and upgrade supporting facilities for
Phase 7 ore mining activities and Phase 8 waste removal (sustaining capex) of US$132 million; smelter capex
of US$92 million; processing plant expansion of US$166 million; and combined cycle power plant (“CCPP”)
and LNG facilities of US$46 million. AMMAN is expected to incur US$980 million of capital expenditures in
H2/2023.


AMMAN’s mining and infrastructure projects continued to progress on schedule. We have spent up to US$339
million on copper smelter and precious metals reCinery (“PMR”) projects. Additionally, our processing plant
expansion projects have incurred US$358 million in capital expenditure until June 2023, while the CCPP and
LNG facilities recorded capital expenditure of US$157 million.




                                                                                                             3
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Debt


As of end of June 2023, AMMAN had total debt of US$2,110 million, and net debt of US$1,460 million. The
debt maturity proCile has been structured to allow AMMAN to focus on its expansion program.

 (As of end June 2023)                  Maturity Date          Balance                     Notes
                                                            (US$ million)
 Total short-term debt                                           88
 US$115 million AMNT Working             23 Dec 2027             88          -
 Capital Loan Facility
 Total long-term debt                                          2,022
 US$1,750 million AMNT Term Loan         22 Dec 2027            1,722        Fully drawn-down in June
 Facility II                                                                 2023
 US$750 million AMNT Term Loan           23 Dec 2027              -          Entered in July 2023
 Facility III
 US$1,295 million AMIN Term Loan         31 Dec 2031            300          Includes US$275 m Letter of
 Facility                                                                    Credit facility.
 Total debt                                                    2,110


Export Permit


On 24 July 2023, AMMAN received an export permit granted by Indonesia’s Ministry of Trade to export
concentrate. The permit for 900,000 wet metric tons of concentrate is valid from July 24, 2023 to May 31,
2024, allowing us to immediately resume concentrate export and realize delayed revenue. In accordance with
Peraturan Menteri Keuangan (“PMK”) No. 71/2023, we expect to pay export duty at a rate of 10% until May
31, 2024. We will continue to communicate with the Government to increase our export license tonnage (as
deemed necessary) and continue exports of concentrate until our smelter is fully operational.


Expansion Projects


Processing and Power Facilities Expansion
We are expanding our processing plant to increase our capacity to 80-85 Mtpa, which is more than double
our current capacity. This will enable us to process ore supply from Batu Hijau's Phase 8 and Elang in the
future, which is necessary for us to meet the growing demand for our products. At the same time, we are
constructing a 450MW CCPP and its supporting LNG facilities. We remain committed to minimizing our
impact on the environment.


Smelter Construction
Currently, AMMAN is constructing copper smelter and PMR facilities with an aggregate input capacity of
900,000 metric tons per annum (“tpa”) of concentrate from Batu Hijau mine and Elang mine in the future.
The copper smelter will produce up to 222 Ktpa of copper cathode and 830 Ktpa of sulfuric acid. Meanwhile,
the PMR facility will receive 970 tpa anode slime input from the smelting activities. The PMR facility will
produce 18 tpa of gold bars, 55 tpa of silver bars, and 70 tpa of selenium. As of May 2023, our smelter and




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PMR projects have reached 58.5% and 59.8% 1 of target completions, respectively, with mechanical
completion expected in May 2024. When the smelter project is completed, we expect to beneCit from tax
savings, lower export duties, and lower royalties. The construction of the smelter project is in line with
Indonesia’s strategic focus on downstream activities.



Company Outlook


We expect to return to stronger Cinancial performance after a challenging H1/2023 and remain on track to
deliver stronger second-half results and achieve full-year guidance:


        Operating and Financial Measures                               Full Year 2023 Guidance
 Concentrate production                                   610,000 dry metric tons
 Copper production                                        337 Mlbs (million pounds)
 Gold production                                          529 Koz (thousand ounces)
 Smelter progress                                         >70% (end December 2023 target)
                                                     CAPEX
 Sustaining capex (including one-off capex)               US$332 million
 Smelter & PMR                                            US$365 million
 Processing plant expansion                               US$469 million
 CCPP and LNG facilities                                  US$226 million
 C1 cash cost                                             US$(1.51) per lb
 Adjusted C1 cost                                         US$(0.80) per lb


Upon receiving our export permit, we immediately resumed concentrate sales from our inventories and
completed our Cirst shipments in late July 2023. For the full year of 2023, we expect to produce 610,000 dry
metric tons of concentrate.


Smelter construction is expected to continue as scheduled, with a target completion of >70% by December
2023. Upon the mechanical completion of the smelter in May 2024, we will focus on the smelter
commissioning and production ramp-up for 4-5 months to produce the Cirst reCined metals.


Our guidance represents our expectations as of the date of this press release and may be subject to change.



                                                       ###




1 Note: Data veriUied by a competent and independent third party and acknowledged by the Ministry of Energy and

Mineral Resources (ESDM).

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About AMMAN

PT Amman Mineral Internasional Tbk (IDX: AMMN) is the largest copper and gold producer listed on the
Indonesian Stock Exchange. Through its subsidiary, AMNT, the company owns and operates the Batu Hijau
mine, Indonesia’s second-largest copper-gold mine. AMNT also processes ore into concentrate, as well as
conducts exploration activities at the Elang project. Through PT Amman Mineral Industri (“AMIN”)'s
subsidiary, a copper smelter and a PMR are also being built and are targeted to be operational in 2024. Upon
completion of the copper smelter and PMR facilities, AMMAN will become a fully integrated mining-to-
smelting business, situated near key end-market regions in Asia. We are committed to leading with
sustainable practices and creating a legacy of the best for Indonesia.

Additional Information

Mineral Exploration
Our Phase 7 ore mining at the Batu Hijau mine is currently underway and will continue through 2024.
Concurrently, Phase 8 waste removal is progressing as planned, and will commence Phase 8 ore mining in
2025 through 2030. Based on a series of ore reserves statements prepared by an independent mining
consultant with drilling and resource modelling in 2020, Phase 8 is expected to produce 460 Mt of ore
amounting to 3,815 Mlbs of copper, 5.2 Moz of gold, and 16.4 Moz of silver, effectively extending the mine life
for six years. We are committed to employing advanced techniques and reconCiguring mining sequences to
enhance productivity and efCiciency.

The Elang Deposit is one of the world's largest undeveloped porphyry copper and gold deposits and is located
in close proximity to the Batu Hijau mine. Once Phase 8 ore mining is completed, AMMAN intends to
commence production at the Elang mine from 2031 through 2046. The Elang mine will utilize the existing
processing infrastructure at Batu Hijau throughout its mine life. The ongoing DeCinitive Feasibility Study for
Elang is expected to be completed in 2024.

Disclaimer

This press release and the information in it have been prepared by PT Amman Mineral Internasional Tbk.
(IDX: AMMN) solely for information purposes only and does not constitute a recommendation regarding any
securities of the Company. The information contained in this document should be considered in the context
of the circumstances prevailing at the time and is subject to change without notice and will not be updated to
reClect material developments that may occur after the date hereof. Certain statements in these materials
constitute “forward-looking statements” and information with respect to the future Cinancial condition,
results of operations and certain plans and objects of management of the Company and the Group. Such
forward-looking statements are made based on management’s current expectations or beliefs as well as
assumptions made by, and information currently available to, management. Neither the Company nor any of
its advisers assumes any responsibility to update forward-looking statements or to adapt them to future
events or developments.


Contacts

Media:

Kartika Octaviana, Vice President Corporate Communications & Investor Relations
communications@amman.co.id

[Vemmy Febrianti, Corporate Secretary & Legal
corporate.secretary@amman.co.id]

Investors / Analysts:

AMMAN: investor.relations@amman.co.id




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ATTACHMENT

                                          PT AMMAN MINERAL INTERNASIONAL TBK
                                          DAN ENTITAS ANAK/AND ITS SUBSIDIARIES


   Laporan Posisi Keuangan Konsolidasian Interim                            Interim Consolidated Statements of Financial Position
   30 Juni 2023 dan 31 Desember 2022                                                        June 30, 2023 and December 31, 2022
   (Disajikan dalam Ribuan Dolar Amerika Serikat,                                 (Expressed in Thousands of United States Dollars,
   Kecuali Dinyatakan Lain)                                                                             Unless Otherwise Stated)

                                                                30 Juni/        31 Desember/
                                               Catatan/         June 30,        December 31,
                                                Notes             2023              2022

   ASET                                                                                                                                 ASSETS

   ASET LANCAR                                                                                                        CURRENT ASSETS
   Kas dan setara kas                               4                 650,154            817,758                 Cash and cash equivalents
   Kas yang dibatasi penggunaannya
      - bagian lancar                              5                   41,664                578         Restricted cash - current portion
   Piutang usaha                                   6                   28,349            339,589                        Trade receivables
   Aset derivatif - bagian lancar                  18                   8,767              8,108        Derivative assets - current portion
   Persediaan, bersih                              7                  319,757            167,270                           Inventories, net
   Stockpiles - bagian lancar                      7                  217,270            302,735               Stockpiles - current portion
   Pajak penghasilan dibayar dimuka                8a                  39,276                  -                      Prepaid income tax
   Piutang pajak lainnya                           8a                 140,658            122,999                     Other tax receivables
   Biaya dibayar dimuka dan                                                                                             Prepayments and
      aset lancar lainnya                                                                                          other current assets
      - Pihak ketiga                              13                  202,286             95,340                         Third parties -
      - Pihak berelasi                           13,28                      -             26,895                        Related party -

   Jumlah Aset Lancar                                             1,648,181           1,881,272                        Total Current Assets

   ASET TIDAK LANCAR                                                                                           NON-CURRENT ASSETS
   Kas yang dibatasi penggunaannya                                                                                         Restricted cash
      - bagian tidak lancar                         5                  50,600             65,585                  - non-current portion
   Aset derivatif                                                                                                        Derivative assets
      - bagian tidak lancar                        18                 5,701                 734                   - non-current portion
   Stockpiles - bagian tidak lancar                7              1,054,802           1,141,611           Stockpiles - non-current portion
   Piutang pajak penghasilan                       8a                     -               6,821                    Income tax receivables
   Piutang pajak lainnya                           8a                10,303               9,841                      Other tax receivables
   Aset pajak tangguhan                            8d                     -                 386                         Deferred tax asset
   Aset tetap, bersih                              9              1,726,976           1,281,954        Property, plant and equipment, net
   Properti pertambangan, bersih                   10               113,416             199,606                      Mining properties, net
   Biaya pengupasan lapisan tanah
      yang ditangguhkan, bersih                    11             1,959,995           1,547,676                Deferred stripping costs, net
   Investasi jangka panjang                        12               234,798             225,634                     Long term investments
   Goodwill                                        14                47,712              47,712                                    Goodwill
   Aset tidak lancar lainnya                                                                                     Other non-current assets
      - Pihak ketiga                              13                   12,291             84,079                          Third parties -
      - Pihak berelasi                           13,28                  6,048              6,048                       Related parties -

   Jumlah Aset Tidak Lancar                                       5,222,642           4,617,687                  Total Non-Current Assets

   JUMLAH ASET                                                    6,870,823           6,498,959                               TOTAL ASSETS




      Catatan atas laporan keuangan konsolidasian interim terlampir      The accompanying notes to the interim consolidated financial statements
     merupakan bagian yang tidak terpisahkan dari laporan keuangan        form an integral part of these interim consolidated financial statements.
                konsolidasian interim secara keseluruhan.

                                                                      -1-

                                                                                                                                                      7
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                                       PT AMMAN MINERAL INTERNASIONAL TBK
                                       DAN ENTITAS ANAK/AND ITS SUBSIDIARIES


Laporan Posisi Keuangan Konsolidasian Interim                            Interim Consolidated Statements of Financial Position
30 Juni 2023 dan 31 Desember 2022                                                        June 30, 2023 and December 31, 2022
(Disajikan dalam Ribuan Dolar Amerika Serikat,                                 (Expressed in Thousands of United States Dollars,
Kecuali Dinyatakan Lain)                                                                             Unless Otherwise Stated)

                                                             30 Juni/        31 Desember/
                                            Catatan/         June 30,        December 31,
                                             Notes             2023              2022

LIABILITAS DAN EKUITAS                                                                                      LIABILITIES AND EQUITY

LIABILITAS                                                                                                                       LIABILITIES

LIABILITAS JANGKA PENDEK                                                                                     CURRENT LIABILITIES
Pinjaman bank jangka pendek                     16                  87,890             99,000                    Short term bank loan
                                                                                                                  Trade payables and
Utang usaha dan beban akrual                                                                                     accrued expenses
   - Pihak ketiga                              15                  312,335            224,032                          Third parties -
   - Pihak berelasi                           15,28                  5,383              7,711                      Related parties -
Utang pajak penghasilan                        8b                       43            179,590                      Income tax payable
Utang pajak lainnya                            8b                    9,922             11,741                       Other tax payables
Liabilitas reklamasi dan penutupan                                                                   Reclamation and closure liabilities
   tambang - bagian lancar                      19                  13,968             15,139                       - current portion
Pinjaman bank jangka panjang                                                                                    Long term bank loans
   - bagian lancar                              17                  13,125               5,000                  - current maturities
Liabilitas jangka pendek lainnya                                                                               Other current liabilities
   - Pihak ketiga                              21                       90                 216                         Third parties -
   - Pihak berelasi                           21,28                  8,476               3,376                     Related parties -

Jumlah Liabilitas Jangka Pendek                                    451,232            545,805                   Total Current Liabilities

LIABILITAS JANGKA PANJANG                                                                               NON-CURRENT LIABILITIES
Pinjaman bank jangka panjang, bersih                                                                         Long term bank loans, net
   - setelah dikurangi bagian lancar  17                       2,009,168           1,696,246              - net of current maturities
Liabilitas reklamasi dan penutupan                                                                   Reclamation and closure liabilities
   tambang - bagian tidak lancar      19                           306,231            303,891                  - non-current portion
Liabilitas imbalan kerja              20                             5,426              3,653               Employee benefit liabilities
Liabilitas pajak tangguhan, bersih    8d                           304,345            294,461                Deferred tax liabilities, net
Liabilitas derivatif                                                                                                Derivative liabilities
   - bagian tidak lancar              18                             1,862               9,783                 - non-current portion
Liabilitas jangka panjang lainnya                                                                           Other non-current liabilities
   - Pihak ketiga                     21                               773                304                         Third parties -
   - Pihak berelasi                  21,28                          49,923             35,517                       Related parties -

Jumlah Liabilitas Jangka Panjang                               2,677,728           2,343,855              Total Non-Current Liabilities

JUMLAH LIABILITAS                                              3,128,960           2,889,660                          TOTAL LIABILITIES




   Catatan atas laporan keuangan konsolidasian interim terlampir      The accompanying notes to the interim consolidated financial statements
  merupakan bagian yang tidak terpisahkan dari laporan keuangan        form an integral part of these interim consolidated financial statements.
             konsolidasian interim secara keseluruhan.

                                                                   -2-

                                                                                                                                                   8
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                                       PT AMMAN MINERAL INTERNASIONAL TBK
                                       DAN ENTITAS ANAK/AND ITS SUBSIDIARIES


Laporan Posisi Keuangan Konsolidasian Interim                             Interim Consolidated Statements of Financial Position
30 Juni 2023 dan 31 Desember 2022                                                         June 30, 2023 and December 31, 2022
(Disajikan dalam Ribuan Dolar Amerika Serikat,                                  (Expressed in Thousands of United States Dollars,
Kecuali Dinyatakan Lain)                                                                              Unless Otherwise Stated)

                                                             30 Juni/          31 Desember/
                                            Catatan/         June 30,          December 31,
                                             Notes             2023                2022

EKUITAS                                                                                                                      EQUITY
Modal saham - nilai nominal                                                                                 Capital stock - par value
  Rp 125 per saham                                                                                               Rp 125 per share
  Modal dasar -                                                                                                       Authorized -
  113.360.000.000 saham                                                                                  113,360,000,000 shares
  Modal ditempatkan dan disetor -                                                                            Issued and paid-up -
  65.587.672.856 saham                         22a                 601,814            601,814             65,587,672,856 shares
Tambahan modal disetor                         22a                 998,341            998,341              Additional paid-up capital
Cadangan lainnya                                                    18,532              8,188                          Other reserves
Dampak dari transaksi ekuitas                                                                         Effect of equity transactions of
  entitas anak                                                     (270,223)         (270,223)                        a subsidiary
Selisih kurs karena penjabaran                                                                     Foreign exchange adjustment on
  laporan keuangan                                                     (160)             (430) translation of financial statements
Saldo laba                                                                                                         Retained earnings
  Dicadangkan                                  22b                    50                   40                        Appropriated
  Belum dicadangkan                                            2,309,813            2,191,019                      Unappropriated

Jumlah ekuitas yang dapat
  diatribusikan kepada pemilik                                                                             Total equity attributable to
  entitas induk                                                3,658,167            3,528,749            owners of the parent entity

Kepentingan nonpengendali                       23                  83,696              80,550                      Non-controlling interest

JUMLAH EKUITAS                                                 3,741,863            3,609,299                                TOTAL EQUITY

JUMLAH LIABILITAS DAN EKUITAS                                  6,870,823            6,498,959 TOTAL LIABILITIES AND EQUITY




   Catatan atas laporan keuangan konsolidasian interim terlampir       The accompanying notes to the interim consolidated financial statements
  merupakan bagian yang tidak terpisahkan dari laporan keuangan         form an integral part of these interim consolidated financial statements.
             konsolidasian interim secara keseluruhan.

                                                                    -3-


                                                                                                                                                    9
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                                        PT AMMAN MINERAL INTERNASIONAL TBK
                                        DAN ENTITAS ANAK/AND ITS SUBSIDIARIES


Laporan Laba Rugi dan Penghasilan                                               Interim Consolidated Statements of Profit or Loss
Komprehensif Lain Konsolidasian Interim                                                         and Other Comprehensive Income
Untuk Periode-periode Enam Bulan                                                                 For the Six-Month Periods Ended
30 Juni 2023 dan 2022                                                                                      June 30, 2023 and 2022
(Disajikan dalam Ribuan Dolar Amerika Serikat,                                     (Expressed in Thousands of United States Dollars,
Kecuali Dinyatakan Lain)                                                                                  Unless Otherwise Stated)

                                             Catatan/             30 Juni/June 30,
                                              Notes             2023           2022

PENJUALAN                                                                                                                           SALES
  Penjualan tembaga, bersih                                         341,402             789,467                       Sales – copper, net
  Penjualan emas, bersih                                            239,120             597,323                         Sales – gold, net

Penjualan Bersih                                 24                 580,522          1,386,790                                        Net Sales

BEBAN POKOK PENJUALAN                            25                 (297,519)          (553,403) COSTS APPLICABLE TO SALES

LABA KOTOR                                                          283,003             833,387                              GROSS PROFIT

BEBAN OPERASIONAL                                                                                              OPERATING EXPENSES
  Beban akresi                                   19                   (9,812)           (10,040)                   Accretion expenses
  Beban eksplorasi                                                    (8,515)            (9,288)                 Exploration expenses
  Beban pemasaran, umum                                                                                        Marketing, general and
    dan administrasi                             26                  (42,422)           (34,515)            administrative expenses

Jumlah Beban Operasional                                             (60,749)           (53,843)               Total Operating Expenses

LABA OPERASIONAL                                                    222,254             779,544                       OPERATING PROFIT

(BEBAN)/PENDAPATAN LAIN                                                                                   OTHER (EXPENSES)/INCOME
  Bagian laba dari entitas asosiasi                                                                        Share in profit of associate
    dan ventura bersama                          12                  10,494                9,016                and joint ventures
  Amortisasi kerugian yang belum
    direalisasi atas transaksi                                                                    Amortization of unrealized loss
    dengan entitas asosiasi                     12                         -             (5,791) on transaction with associate
  Beban keuangan                             16,17,21                (87,445)           (66,991)                   Finance costs
  Pendapatan lainnya, bersih                                          10,254              7,130                Other income, net

Jumlah Beban Lain, Bersih                                            (66,697)           (56,636)               Total Other Expenses, Net

LABA SEBELUM PAJAK                                                  155,557             722,908                      PROFIT BEFORE TAX

BEBAN PAJAK PENGHASILAN                          8c                  (33,141)          (157,715)                  INCOME TAX EXPENSE

LABA PERIODE BERJALAN                                               122,416             565,193                PROFIT FOR THE PERIOD




    Catatan atas laporan keuangan konsolidasian interim terlampir       The accompanying notes to the interim consolidated financial statements
   merupakan bagian yang tidak terpisahkan dari laporan keuangan         form an integral part of these interim consolidated financial statements.
              konsolidasian interim secara keseluruhan.

                                                                     -4-


                                                                                                                                                     10
Page 11
                                        PT AMMAN MINERAL INTERNASIONAL TBK
                                        DAN ENTITAS ANAK/AND ITS SUBSIDIARIES


Laporan Laba Rugi dan Penghasilan                                              Interim Consolidated Statements of Profit or Loss
Komprehensif Lain Konsolidasian Interim                                                        and Other Comprehensive Income
Untuk Periode-periode Enam Bulan                                                                For the Six-Month Periods Ended
30 Juni 2023 dan 2022                                                                                     June 30, 2023 and 2022
(Disajikan dalam Ribuan Dolar Amerika Serikat,                                    (Expressed in Thousands of United States Dollars,
Kecuali Dinyatakan Lain)                                                                                 Unless Otherwise Stated)

                                             Catatan/             30 Juni/June 30,
                                              Notes             2023           2022

PENGHASILAN/(RUGI)                                                                                           OTHER COMPREHENSIVE
  KOMPREHENSIF LAIN                                                                                                   INCOME/(LOSS)
Pos yang akan                                                                                               Items that will be reclassified
  direklasifikasi ke laba rugi                                                                           subsequently to profit or loss
  Transaksi derivatif                            18                  13,547             23,181                  Derivative transaction
  Pajak sehubungan dengan                                                                                       Related income tax on
     transaksi derivatif                         8d                  (2,980)             (5,100)              derivative transaction
  Bagian penyesuaian translasi                                                                                     Share in translation
     dari entitas asosiasi                       12                    583                1,437            adjustment of associate

                                                                     11,150             19,518

Pos yang tidak akan                                                                                     Items that will not be reclassified
  direklasifikasi ke laba rugi                                                                           subsequently to profit or loss
  Pengukuran kembali                                                                                       Remeasurement of defined
     liabilitas imbalan kerja                    20                    (769)                153         employee benefit liabilities
  Pajak sehubungan dengan                                                                                      Related income tax on
     pengukuran kembali                                                                                 remeasurement of defined
     liabilitas imbalan kerja                    8d                    167                   (34)       employee benefit liabilities

                                                                       (602)                119

Jumlah Penghasilan Komprehensif                                                                             Total Other Comprehensive
  Lain, Setelah Pajak                                                10,548             19,637                    Income, Net of Tax

JUMLAH PENGHASILAN
  KOMPREHENSIF                                                                                              TOTAL COMPREHENSIVE
  PERIODE BERJALAN                                                  132,964            584,830           INCOME FOR THE PERIOD

JUMLAH LABA PERIODE
  BERJALAN YANG DAPAT                                                                                      TOTAL PROFIT FOR THE
  DIATRIBUSIKAN KEPADA:                                                                               PERIOD ATTRIBUTABLE TO:
  Pemilik entitas induk                                             118,804            562,501           Owners of the parent entity
  Kepentingan nonpengendali                                           3,612              2,692              Non-controlling interest

                                                                    122,416            565,193

JUMLAH PENGHASILAN
  KOMPREHENSIF PERIODE                                                                                      TOTAL COMPREHENSIVE
  BERJALAN YANG DAPAT                                                                                    INCOME FOR THE PERIOD
  DIATRIBUSIKAN KEPADA:                                                                                       ATTRIBUTABLE TO:
  Pemilik entitas induk                                             129,148            581,635             Owners of the parent entity
  Kepentingan nonpengendali                      23                   3,816              3,195               Non-controlling interest

                                                                    132,964            584,830

LABA PER SAHAM YANG DAPAT                                                                                   EARNINGS PER SHARE
  DIATRIBUSIKAN KEPADA                                                                               ATTRIBUTABLE TO OWNERS
  PEMILIK ENTITAS INDUK                                                                                 OF THE PARENT ENTITY
  (nilai penuh)                                  27                 0.00181            0.00858                     (full amount)




    Catatan atas laporan keuangan konsolidasian interim terlampir      The accompanying notes to the interim consolidated financial statements
   merupakan bagian yang tidak terpisahkan dari laporan keuangan        form an integral part of these interim consolidated financial statements.
              konsolidasian interim secara keseluruhan.

                                                                    -5-



                                                                                                                                                    11
Page 12
                                        PT AMMAN MINERAL INTERNASIONAL TBK
                                        DAN ENTITAS ANAK/AND ITS SUBSIDIARIES


Laporan Arus Kas Konsolidasian Interim                                          Interim Consolidated Statements of Cash Flows
Untuk Periode-periode Enam Bulan yang Berakhir                                                 For the Six-Month Periods Ended
30 Juni 2023 dan 2022                                                                                    June 30, 2023 and 2022
(Disajikan dalam Ribuan Dolar Amerika Serikat,                                   (Expressed in Thousands of United States Dollars,
Kecuali Dinyatakan Lain)                                                                                Unless Otherwise Stated)

                                             Catatan/             30 Juni/June 30,
                                              Notes             2023           2022

ARUS KAS DARI                                                                                                     CASH FLOWS FROM
  AKTIVITAS OPERASI                                                                                          OPERATING ACTIVITIES
Penerimaan dari pelanggan                    6,24,25                 900,769         1,349,658                  Receipts from customers
Pembayaran kepada pemasok                                           (540,024)         (642,556)                    Payments to suppliers
Pembayaran royalti,                                                                                                Payments of royalties,
  pajak dan jaminan                                                 (263,376)         (125,209)                  taxes and guarantee
Pembayaran beban keuangan                    16,17,21                (85,948)          (62,922)                Payments of finance costs

Kas bersih diperoleh dari                                                                                            Net cash provided by
  aktivitas operasi                                                  11,421            518,971                      operating activities

ARUS KAS DARI                                                                                                      CASH FLOWS FROM
  AKTIVITAS INVESTASI                                                                                       INVESTING ACTIVITIES
                                                                                                                           Acquisitions of
Perolehan aset tetap                           9,31                 (416,521)         (285,569)         property, plant and equipment
                                                                                                               Advance for acquisition of
Uang muka perolehan aset tetap                  13                   (19,953)                    -      property, plant and equipment
Pembayaran untuk penambahan                                                                                       Payment for addition of
  properti pertambangan                         10                          -           (26,738)                     mining properties

Kas digunakan untuk
  aktivitas investasi                                               (436,474)         (312,307) Cash used in investing activities

ARUS KAS DARI                                                                                                       CASH FLOWS FROM
  AKTIVITAS PENDANAAN                                                                                         FINANCING ACTIVITIES
Pembayaran untuk pinjaman                                                                                                   Repayments of
  bank jangka pendek                            16                   (11,110)                    -                 short term bank loan
Penerimaan dari pinjaman                                                                                                    Proceeds from
  bank jangka panjang                           17                  900,000                      -                long term bank loans
Pembayaran untuk pinjaman                                                                                                   Repayments of
  bank jangka panjang                           17                  (578,438)                    -                long term bank loans
Perubahan pada kas yang
  dibatasi penggunaannya                         5                   (51,374)            (3,939)                Changes in restricted cash

Kas bersih diperoleh dari/
  (digunakan untuk)                                                                                              Net cash provided by/
  aktivitas pendanaan                                               259,078              (3,939)       (used in) financing activities

                                                                                                                   NET (DECREASE)/
(PENURUNAN)/KENAIKAN BERSIH                                                                                 INCREASE IN CASH AND
  KAS DAN SETARA KAS                                                (165,975)          202,725                 CASH EQUIVALENTS

                                                                                                                    CASH AND CASH
KAS DAN SETARA KAS                                                                                           EQUIVALENTS AT THE
  PADA AWAL PERIODE                                                 817,758            557,814              BEGINNING THE PERIOD

Pengaruh perubahan kurs                                                                                                  Effect of foreign
  mata uang asing                                                     (1,629)             2,912                 exchange rate changes


KAS DAN SETARA KAS                                                                                   CASH AND CASH EQUIVALENTS
  PADA AKHIR PERIODE                                                650,154            763,451        AT THE END OF THE PERIOD




    Catatan atas laporan keuangan konsolidasian interim terlampir        The accompanying notes to the interim consolidated financial statements
   merupakan bagian yang tidak terpisahkan dari laporan keuangan          form an integral part of these interim consolidated financial statements.
              konsolidasian interim secara keseluruhan.

                                                                      -8-

                                                                                                                                                 12

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