Annual GMS 2023 Records Profit of Rp27.5 Trillion, MIND ID Continues Sustainable Performance

Jakarta, 10 June 2014 - MIND ID, the Holding State-Owned Enterprise for the Mining Industry, saw positive performance growth throughout 2023. Their proactive approach to business expansion, emphasizing innovation through circular economy principles, has led to optimal added value and revenue for the company.

MIND ID held its Annual General Meeting of Shareholders (Annual GMS) for the Fiscal Year 2023 on Tuesday (11/6). The Company successfully recorded a net profit of Rp27.5 trillion. This marks a 22.4% increase from the previous year and 36.3% higher than the 2023 Corporate Budget Plan (RKAP).

MIND ID's EBITDA reached Rp40.3 trillion, growing 9.7% compared to the previous fiscal year and 58.7% higher than the 2023 RKAP.

MIND ID's total assets also grew by 13% YoY to Rp259.2 trillion, while equity rose by 18% YoY to Rp129.6 trillion.

Operationally, MIND ID successfully maintained the production rate of various mining commodities including nickel, copper, tin, coal, gold, and silver, enhancing the added value of Indonesia's mineral resources.

MIND ID President Director Hendi Prio Santoso attributed this positive performance from MIND ID and its Holding Members' commitment to continuously optimizing the company's operations.

The successful implementation of various strategic plans in 2023 has strengthened the company's financial performance.

"This achievement is a testament to our efforts, and we will certainly continue to uphold it. The government has entrusted MIND ID to manage Indonesia's mineral commodities, ensuring they deliver significant added value while maintaining the company's prime condition, particularly in support of government economic programs," he said.

Throughout January to December 2023, MIND ID produced at least 41.90 million tons of coal, 15,300 tons of tin ingots, 214,900 tons of aluminum, 13.44 million tons of nickel, 21,500 tons of ferronickel, 2.01 million tons of bauxite, and 1.2 tons of gold.

Hendi emphasized that MIND ID and all Holding Members could effectively mitigate geopolitical conditions. Efforts to mitigate and anticipate price and exchange rate fluctuations remain crucial for the company.

"Moving forward, the company is exploring new market expansions and maintaining the strengthening of existing commodity market penetration. This strategy has positively impacted our ability to optimize the sales and production of Indonesian minerals," he said.

Hendi ensured the achievement of the National Strategic Project (PSN) implementation targets within the MIND ID Group, including the strategic delivery unit as stipulated in the 2024 RKAP.

"In carrying out PSN, we will proactively carry out various acceleration programs to provide the greatest added value to the economy," he said.

 

MIND ID Management Structure

Furthermore, the Annual GMS approved the honorable discharge of Jisman Parada Hutajulu as Commissioner. The Annual GMS also approved the appointment of Grace Natalie Louisa as Commissioner.

Additionally, the Annual GMS approved the appointment of Fuad Bawazier as President Commissioner and Pamitra Wineka as Independent Commissioner.

Board of Commissioners

President Commissioner: Fuad Bawazier

Independent Commissioner: Muhammad Munir

Independent Commissioner: Pamitra Wineka

Commissioner: Astera Primanto Bhakti

Commissioner: Grace Natalie

Commissioner: Nicolaus Teguh Budi Harjanto

 

Board of Directors

President Director: Hendi Prio Santoso

Vice President Director: Dany Amrul Ichdan

Director of Portfolio and Business Development: Dilo Seno Widagdo

Director of Finance: Akhmad Fazri

Director of Risk Management and HSSE: Nur Hidayat Udin

“With the shareholders’ decisions, MIND ID is anticipated to become the foremost strategic holding in advancing the downstream sector in Indonesia’s mining industry, achieving optimal and sustainable performance” concluded Hendi.