MIND ID Posts Net Profit of Rp6.74 Trillion in Quarter One 2022

Jakarta, 1 June 2022 – 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) dan PT Timah Tbk, has realized positive production and financial performance in the first quarter of 2022.  The Company posted consolidated net profit of Rp6.74 trillion, up 319% over the same period in 2021 of Rp1.61 trillion.

The positive financial and operational performance was supported by the optimal production and sales performance of the MIND ID Group.  The company also placed its main attention on financial strategy, specifically in maintaining the level of liquidity in the midst of improving global commodity prices.

MIND ID President Director, Hendi Prio Santoso, said that the “MIND ID’s positive performance is a reflection of the operational governance optimalization of MIND ID Members.  As a Holding Company for the Mining Industry, the Company continues to drive MIND ID Members to implement good mining practice and mineral processing. MIND ID also implements strategic management policy and active in each business process of MIND ID Members, thereby producing more effective, efficient and sustainable business process.”

In the first quarter of 2022, optimal production and sales activities of MIND ID Members were maintained. The Company posted Income of Rp26.96 trillion or an increase of 41% compared to the same period in 2021 of Rp19.15 trillion.

The Company posted positive profitability by achieving Earnings Before Interest, Taxes, Depreciation and Amortization (EBITDA) of Rp10.23 trillion, or an increase of 134% compared to the first quarter of 2021 of Rp4.37 trillion. The EBITDA Margin position in the first quarter of 2022 was also 37.92% higher compared to the first quarter of 2021 of 22.84%. Net Profit Margin also accelerated to 25.00% compared to the same period last year of 8.40%.

MIND ID is optimistic in achieving the performance target stipulated. In 2022, the Company focuses on working programs and will drive the production of the MIND ID Group to a more optimal level.

On MIND ID

The Mining Industry Holding was officially formed on 27 November 2017, with PT Indonesia Asahan Aluminium (Persero) as the holding company with majority shares in four largest mining companies in Indonesia, PT Aneka Tambang Tbk, PT Bukit Asam Tbk, PT Timah Tbk and PT Freeport Indonesia.

On 17 August 2019, the Mining Industry Holding was transformed into MIND ID (Mining Industry Indonesia) to differentiate the functions of INALUM as Holding and as Operational company.

Informasi lebih lanjut dapat menghubungi:

Heri Yusuf

SVP Corporate Secretary
PT Inalum (Persero) Holding Industri Pertambangan

Email: heri.yusuf@mind.id

www.mind.id