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20240328_TINS_Laporan Informasi dan Fakta Material_31620779_lamp2.pdf
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PRESS RELEASE
UNTUK SEGERA DISIARKAN
Bukukan Pendapatan Rp8,4 Triliun,
TINS Terus Dorong Perbaikan Tata Kelola Pertambangan dan Niaga Timah
Jakarta, 28 Maret 2024 – PT TIMAH Tbk (“Perseroan”; IDX: TINS) hari ini mengumumkan
Laporan Keuangan Konsolidasian untuk periode yang berakhir 31 Desember 2023 yang telah
diaudit.
Lambatnya pemulihan perekonomian global dan domestik, serta tekanan harga logam timah
dunia di tahun 2023 akibat penguatan mata uang AS dan lemahnya permintaan timah karena
tingginya persediaan LME berdampak pada menurunnya ekspor timah Indonesia sejak tahun
2022 sampai dengan saat ini. Selain itu, penambangan timah tanpa izin yang terjadi di Bangka
Belitung akibat tata kelola pertimahan yang belum membaik, berdampak negatif pada bisnis
pertimahan di Indonesia khususnya Perseroan.
“Kondisi ekonomi global dan domestik yang belum membaik serta lemahnya permintaan logam
timah global ditengah aktifitas penambangan tanpa izin berdampak pada kinerja Perseroan di
tahun 2023. Di tahun 2024 ini, Perseroan fokus pada peningkatan produksi melalui
penambahan alat tambang dan pembukaan lokasi baru, strategi recovery plan dan program
efisiensi berkelanjutan, manajemen optimis kinerja Perseroan di tahun ini akan lebih baik sesuai
dengan target.” ujar Fina Eliani Direktur Keuangan dan Manajemen Risiko PT TIMAH Tbk.
Kinerja Operasi
TINS mencatat produksi bijih timah sebesar 14.855 ton atau 74% pada akhir tahun 2023
dibandingkan periode yang sama tahun sebelumnya sebesar 20.079 ton. Adapun produksi
logam timah sebesar 15.340 metrik ton atau 77% dibandingkan periode yang sama tahun
sebelumnya sebesar 19.825 metrik ton, serta penjualan logam timah sebesar 14.385 metrik ton
atau 69% dibandingkan periode yang sama tahun sebelumnya sebesar 20.805 metrik ton.
Harga jual rerata logam timah sebesar USD26.583 per metrik ton atau lebih rendah 84%
dibandingkan periode yang sama tahun sebelumnya sebesar USD31.474 per metrik ton. Sampai
dengan akhir tahun 2023, TINS mencatatkan ekspor timah sebesar 92% dengan 6 besar negara
tujuan ekspor meliputi Jepang 17%; Korea Selatan 13%; Belanda 11%; India 9%; Taiwan 9% dan
Amerika Serikat 8%.
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Kinerja Keuangan
Di tahun 2023, Perseroan membukukan pendapatan sebesar Rp8,4 triliun, EBITDA sebesar
Rp684,3 miliar dan rugi tahun berjalan sebesar Rp449,7 miliar. Penurunan volume penjualan
logam timah sebesar 6.420 metrik ton dan penurunan harga jual rerata logam timah sebesar
USD4.891 per metrik ton dari tahun 2022 berpengaruh signifikan terhadap kinerja keuangan
Perseroan di tahun 2023.
Posisi nilai aset Perseroan pada tahun 2023 sebesar Rp12,8 triliun, sementara posisi liabilitas
sebesar Rp6,6 triliun, naik 9,7% dibandingkan posisi akhir tahun 2022 sebesar Rp6,0 triliun. Di
samping itu, pinjaman bank dan utang obligasi pada akhir tahun 2023 menjadi Rp3,5 triliun dari
sebelumnya Rp2,8 triliun.
Posisi ekuitas sebesar Rp6,2 triliun, turun 11% dibandingkan posisi akhir tahun 2022 sebesar
Rp7,0 triliun seiring kerugian yang dialami Perseroan.
Indikator keuangan Perseroan masih menunjukkan hasil yang baik, terlihat dari beberapa rasio
keuangan penting di antaranya Quick Ratio sebesar 38%, Current Ratio sebesar 139%, Debt to
Asset Ratio sebesar 5,41%, dan Debt to Equity Ratio sebesar 105,9%.
Kondisi saat ini dan prospek ke depan
Manajemen menyusun strategi dan kebijakan untuk menjaga kinerja Perseroan tetap
berkelanjutan. Program-program peningkatan produksi sampai dengan saat ini masih dilakukan
seperti pembukaan lokasi baru, peningkatan kapasitas produksi tambang primer dari alat
penambangan maupun alat pengolahan, memperbaharui IUP yang ada, melakukan survey
lokasi dan inventarisir kepemilikan lahan untuk pembukaan tambang darat baru serta
peningkatan recovery dengan melakukan upgrading kembali dari sisa hasil pengolahan sebagai
upaya strategis untuk meningkatkan kinerja Perseroan. Selain itu, program efisiensi
berkelanjutan baik dari hulu ke hilir pun terus diupayakan.
Bersama dengan upaya perbaikan tata kelola pertambangan dan niaga timah Indonesia yang
digencarkan oleh pemerintah ditengah terjadinya aktifitas penambangan tanpa izin, Perseroan
terus mendorong perbaikan tata kelola pertimahan dengan gencar melakukan pengamanan
aset dan penegakan aturan serta kerja sama penambangan rakyat untuk mereduksi
penambangan tanpa izin di wilayah konsesi pertambangan serta konsisten dan berkomitmen
dalam melakukan langkah-langkah strategis untuk meningkatkan kinerja operasi dan produksi.
Saat ini, harga rata-rata timah CSP di LME sejak Maret 2024 meningkat 5,7% menjadi USD
27.436 per ton dari harga rata-rata timah CSP di LME selama tahun 2023 sebesar USD 25.959
per ton serta proyeksi harga timah versi Bloomberg di kisaran USD 23.000 – 29.000 per metrik
ton.
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Ke depan, Perseroan terus berupaya dalam merealisasikan beberapa inisiatif strategis
diantaranya peningkatan sumberdaya dan cadangan secara organik/anorganik, optimalisasi
penambangan dan pengolahan timah primer, optimalisasi tata kelola penambangan rakyat,
pengembangan bisnis pasir silika & mineral ikutannya, pengembangan monasite-REE, serta
melakukan efisiensi biaya di seluruh rantai bisnis proses.
-- selesai ---
Sekilas PT TIMAH Tbk
PT TIMAH Tbk adalah anak usaha dari holding pertambangan Indonesia MIND ID merupakan
produsen timah terkemuka sekaligus eksportir timah terbesar di dunia dengan wilayah
operasional pertambangan dan peleburan logam timah di provinsi Bangka Belitung, Kepulauan
Riau, dan Riau.
Menjadi Perseroan Terbatas sejak tahun 1976 dan melantai di Bursa Efek Indonesia sejak tahun
1995, PT TIMAH Tbk menjalankan bisnis timah yang terintegrasi secara vertikal, mulai dari
kegiatan eksplorasi, penambangan, peleburan dan pemurnian logam timah hingga pemasaran
yang melayani para pelanggan internasional maupun domestik. Produk logam timah dengan
merek “Banka Tin”, “Kundur Tin”, dan “Mentok Tin” memiliki reputasi internasional dan telah
terdaftar di London Metal Exchange (LME).
Saat ini PT TIMAH Tbk yang merupakan anggota dari International Tin Association (ITA) memiliki
4 (empat) lini bisnis utama yakni pertambangan timah, hilirisasi timah (tin chemical dan tin
solder), pertambangan non‐timah (batubara dan nikel), serta bisnis berbasis kompetensi
termasuk properti, galangan kapal, agro bisnis.
Untuk keterangan lebih lanjut dapat menghubungi:
Abdullah Umar, Corporate Secretary
Telepon : +62 (21) 23528000 dan +62 (717) 4258000
Email : corsec@pttimah.co.id
Website : www.timah.com
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PT TIMAH Tbk
Ikhtisar Unjuk Kerja
Tahun 2023 dan 2022
2023 2022 Perubahan (%)
Keterangan
a b (a-b)/b
Produksi bijih timah - Ton Sn
Darat 4.278 7.121 -40%
Laut 10.577 12.958 -18%
Total 14.855 20.079 -26%
Produksi logam timah - Metrik Ton 15.340 19.825 -23%
Penjualan logam timah - Metrik Ton 14.385 20.805 -31%
Harga Jual Rata-Rata - US$/Metrik Ton 26.583 31.474 -16%
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PRESS RELEASE
FOR IMMEDIATE RELEASE
Booked Revenue Rp8.4 Trillion,
TINS Continues to Encourage Improvement of Tin Mining and Trading
Governance
Jakarta, March 28, 2024 – PT TIMAH Tbk (“the Company”; IDX: TINS) today announced its
audited Consolidated Financial Statements for the period ended December 31, 2023 .
The slow recovery of the global and domestic economy, as well as pressure on world tin metal
prices in 2023 due to the strengthening of the US currency and weak tin demand due to high
LME inventories have resulted in a decline in Indonesia's tin exports since 2022 until now. In
addition, unauthorized tin mining that occurred in Bangka Belitung due to the unimproved
governance of tin, negatively impacted the tin business in Indonesia, especially the Company.
"Global and domestic economic conditions that have not improved as well as weak global
demand for tin metal amidst unlicensed mining activities have an unfavorable impact on the
Company's performance. In 2024, the Company focuses on increasing production through the
addition of mining equipment and opening new locations, recovery plan strategies and
sustainable efficiency programs, management is optimistic that the Company's performance
this year will be better in accordance with the target." said Fina Eliani, Director of Finance and
Risk Management of PT TIMAH Tbk.
Operation Performance
TINS recorded tin ore production of 14,855 tons or 74% by the end of 2023 compared to the
same period the previous year of 20,079 tons. The tin metal production amounted to 15,340
metric tons or 77% compared to the same period the previous year of 19,825 metric tons, and
tin metal sales amounted to 14,385 metric tons or 69% compared to the same period the
previous year of 20,805 metric tons.
The average selling price of tin metal was USD26,583 per metric ton or 84% lower than the
same period last year of USD31,474 per metric ton. Until the end of 2023, TINS recorded tin
exports of 92% with the top 6 export destination countries including Japan 17%; South Korea
13%; Netherlands 11%; India 9%; Taiwan 9% and the United States 8%.
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Financial Performance
In 2023, the Company booked revenue of Rp8.4 trillion, EBITDA of Rp684.3 billion and loss for
the year of Rp449.7 billion. A decrease in tin metal sales volume by 6,420 metric tons and a
decrease in the average selling price of tin metal by USD4,891 per metric ton from 2022 will
significantly affect the Company's financial performance in 2023.
The Company's asset value position in 2023 amounted to Rp12.8 trillion, while the liability
position amounted to Rp6.6 trillion, up 9.7% compared to the end of 2022 position of Rp6.0
trillion. In addition, bank loans and bonds payable at the end of 2023 amounted to Rp3.5 trillion
from Rp2.8 trillion previously.
The equity position amounted to Rp6.2 trillion, a decrease of 11% compared to the year-end
2022 position of Rp7.0 trillion as the Company experienced losses.
The Company's financial indicators still show good results as seen from several important
financial ratios including Quick Ratio of 38%, Current Ratio of 139%, Debt to Asset Ratio of
5.41%, and Debt to Equity Ratio of 105.9%.
Current conditions and prospects for the future
Management develops strategies and policies to maintain the Company's sustainable
performance. Until now, programs to increase production are still being carried out, such as
opening new locations, increasing primary mining production capacity from mining equipment
and processing equipment, renewing existing IUPs, conducting site surveys and land ownership
inventories for opening new land mines and increasing recovery by carrying out re-upgrading
of remaining processing results as a strategic effort to improve the Company's performance. In
addition, sustainable efficiency programs from upstream to downstream continue to be
pursued.
Together with the efforts to improve Indonesian tin mining and trading governance intensified
by the government amidst the occurrence of unlicensed mining activities, the Company
continues to encourage the improvement of mining governance by aggressively securing assets
and enforcing rules and cooperation with community mining to reduce unlicensed mining in
mining concession areas and is consistent and committed to taking strategic steps to improve
operational and production performance.
Currently, the average price of CSP tin on the LME since March 2024 has increased by 5.7% to
USD 27,436 per ton from the average price of CSP tin on the LME during 2023 of USD 25,959
per ton and the projected tin price by Bloomberg in the range of USD 23,000 - 29,000 per metric
ton.
Going forward, the Company will continue to strive to realize several strategic initiatives
including increasing organic/inorganic resources and reserves, optimizing primary tin mining
and processing, optimizing community mining governance, developing the silica sand &
associated mineral business, developing monazite-REE, and carry out cost efficiencies
throughout the business process chain.
--- Finished ---
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A brief description about PT TIMAH Tbk:
PT TIMAH Tbk, a subsidiary of Indonesian mining holding company MIND ID, is the leading tin
producer as well as the largest tin exporter in the world with mining and smelting operations
in Bangka Belitung, Riau Islands, and Riau.
Being a Limited Liability Company since 1976 and listed in the Indonesian Stock Exchange since
1995, PT TIMAH carries out vertically integrated tin business from exploration, mining, smelting
and refining, to marketing for overseas and domestic customers. Refined tin products with the
brands "Banka Tin", "Kundur Tin" and "Mentok Tin" officially registered in the London Metal
Exchange (LME) are considered to be the most preferred brand.
Currently PT TIMAH which is a member of the International Tin Association (ITA) has 4 (four)
main business lines namely tin mining, downstream products (tin chemical and tin solder), non‐
tin mining (coal and nickel), as well as competency‐based businesses such as hospitals,
property, shipyards, agribusiness.
Further information, please contact:
Abdullah Umar, Corporate Secretary
Telepon : +62 (21) 23528000 dan +62 (717) 4258000
Email : corsec@pttimah.co.id
Website : www.timah.com
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PT TIMAH Tbk
Performance Highlight
FY 2023 and FY 2022
Remarks FY 2023 FY 2022 Change (% )
a b (a-b)/b
Production of tin ore - Ton Sn
Onshore 4.278 7.121 -40%
Offshore 10.577 12.958 -18%
Total 14.855 20.079 -26%
Production of refined tin - Metric Ton 15.340 19.825 -23%
Sales of refined tin - Metric Ton 14.385 20.805 -31%
Average selling price - US$/Metric Ton 26.583 31.474 -16%
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