MIND ID Posts Net Profit of Rp4.7 trillion in First Half 2021
Jakarta, 31 August 2021 - MIND ID or Mining Industry Indonesia, the Holding State-Owned Enterprise for the Mining Industry, with members PT Aneka Tambang Tbk, PT Bukit Asam Tbk, PT Freeport Indonesia, PT Inalum (Persero) and PT Timah Tbk, posted positive production and financial performance throughout the first semester of 2021. The Company posted Net Profit of Rp4.7 trillion, a significant increase compared to the Net Loss of Rp1.8 trillion in the same period in 2020.
This was supported by optimal production and sales performance of the MIND ID Group, implementation of financial strategy, specifically in maintaining liquidity level, and the improving global commodity prices.
MIND ID Group CEO Orias Petrus Moedak said that, “In the first semester of 2021, the MIND ID Group posted far better operational and financial performance compared to 2020. As the strategic holding, we have implemented a financial strategy, specifically in maintaining liquidity level, including the fulfillment of existing financial obligations, monitoring and maintaining production and sales levels, and driving synergy among MIND ID Members.”
In the first semester of 2021, the Company ensured that operational activities of MIND ID Members had been conducted in accordance with strict health protocols so that production and sales activities were able to proceed optimally and safely. In line with the global economic recovery and encouraged by quite high demand for commodities, the Company has posted Revenue of Rp39.2 trillion or an increase of 34% compared to the same period last year of Rp29.3 trillion.
MIND ID Group posted positive profitability as indicated by the Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) of Rp10.9 trillion or an increase of 198% compared to the position in June 2020 of Rp3.6 trillion. The EBITDA Margin’s position improved, namely 28% higher compared to the achievements of June 2020 of 12%. Net Profit Margin also increased to 12% compared to June 2020 of -6%.
MIND ID is optimistic in achieving performance in line with the target set. In Semester Two of 2021, the Company will continue with the work program which has been stipulated and focus in driving production level, optimizing MIND ID Group synergy, accelerating the investment program and maintaining the liquidity of the Company.