Sales during January-December last year of state-owned nickel producer PT Aneka Tambang Tbk (ANTM) plummeted 10% compared to previous year due to drop in sales volume as well as nickel prices.
The company posted Rp8.65 trillion in sales last year. It produced 12,550 tons nickel in feronickel (TNi) in 2009, outpacing its internal production volume target of 12,000 TNi. But, production volume realization last year plunged 29% last year compared to the previous year level.
During fourth quarter last year, ANTM produced 3,873 TNi, up 9% from the same period in 2008, due to operational of feronickel plant III.
Gold production volume in 2009 reached 2,626 kg, 7% drop compared to previous year, in line with lowering production.
The company has anticipated decrease of nickel sales volume since end of 2008. Adding to that, it has lowered sales and production volume target in 2009.
According to ANTM's September financial performance, it posted Rp6.27 trillion in net sales, slightly lower than the same period in 2008 of Rp7.58 trillion.
Operating profit suffered a steep plunge from September 2008 of Rp2.05 trillion to the same period last year of Rp337.23 billion due to soaring cost of goods sold.
ANTM's September 2009 bottom line experienced a sharp drop from Rp1.62 trillion or Rp170.30 per share in September 2008 to Rp292.66 billion or Rp30.69 per share.
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