COMPANY REPORT

ANTM
ANEKA TAMBANG (PERSERO) TBK.

Company Profile
ANTAMisaverticallyintegrated,exportoriented,diversifiedminingandmetalscompany.
With operations spread throughout the mineralrich Indonesian archipelago, ANTAM
undertakesallactivitiesfromexploration,excavation,processingthroughtomarketingof
nickelore,ferronickel,gold,silver,bauxiteandcoal.Thecompanyhaslongtermloyalblue
chip customers in Europe and Asia. Due to the vastness of the company's licensed
explorationareasaswellasitsknownlargeholdingsofhighqualityreservesandresources,
ANTAMhasformedseveraljointventureswithinternationalpartnerstoprofitablydevelop
geologicalorebodiesintoprofitablemines.
ANTAM's objectives are centered on increasing shareholder value. The company's main
objective is to enhance shareholder value by lowering costs while profitably expanding
operationsinasustainablemanner.ThestrategymaintainsfocusonANTAM'scorebusiness
of nickel, gold and bauxite with a view to maximizing output in order to increase cash
generationandlowerunitcosts.ANTAMplanstosustaingrowththroughreliableexpansion
projects,strategicalliances,increasingqualityreservesandaddingvaluebymovingaway
from selling raw materials and increasing processing activities. ANTAM will also maintain
financial strength. By generating as much cash as possible ANTAM ensures it will have
sufficientfundstorepaydebts,financecontinuedgrowthandpaydividends.Loweringcosts
meansoperatingmoreefficientlyandproductively,aswellasincreasingcapacitytobenefit
fromeconomiesofscale.
2015wasachallengingyearfortheglobalminingindustryduelowercommoditypricesasa
result of the slowdown in global economy condition. Despite these challenges, in 2015
ANTAMsoperationalperformanceremainedpositive.ANTAMwasfocusingoninnovation
and efficiency in its line of businesses. ANTAM also strived to create and implement its
winningstrategytocapturethegrowthpotentialdespitechallengingtimes.ANTAMsefforts
to ensure the successful delivery of its commitment will determine the companys
sustainability.Throughtheseefforts,ANTAMremainedoptimisticofitsfuture.

February 2016
Disclaimer:
The facts and opinions stated or expressed in this publication are for information purposes only and are not necessarily and must not be relied upon as being those of the
publisher or of the institutions for which the contributing authors work. Although every care has been taken to ensure the accuracy of the information contained within the
publication it should not be by any person relied upon as the basis for taking any action or making any decision. The Indonesia Stock Exchange cannot be held liable or
otherwise responsible in anyway for any advice action taken or decision made on the basis of the facts and opinions stated or expressed or stated within this publication.

18

RESEARCH AND DEVELOPMENT DIVISION

ANTM Aneka Tambang (Persero) Tbk. [S]

COMPANY REPORT : JANUARY 2016

As of 29 January 2016

Main Board
Industry Sector : Mining (2)
Industry Sub Sector : Metal And Mineral Mining (23)

Individual Index
:
Listed Shares
:
Market Capitalization :

216.918
24,030,764,725
7,906,121,594,525

91 | 7.91T | 0.16% | 85.98%

58 | 5.76T | 0.42% | 82.62%

COMPANY HISTORY
Established Date
: 05-Jul-1968
Listing Date
: 27-Nov-1997
Under Writer IPO :
PT Danareksa Sekuritas
PT Bahana Securities
PT Pentasena Arthasentosa
Securities Administration Bureau :
PT Datindo Entrycom
Wisma Sudirman - Puri Datindo
Jln. Jend. Sudirman Kav. 34 - 35, Jakarta 10220
Phone : (021) 570-9009
Fax
: (021) 570-9026
BOARD OF COMMISSIONERS
1. Fachrul Razi
2. Bambang Gatot Ariyono
3. Hikmahanto Juawana *)
4. Laode M. Kamaluddin *)
5. Robert A. Simanjuntak
6. Zaelani
*) Independent Commissioners
BOARD OF DIRECTORS
1. Tedy Badrujaman
2. Agus Zamzam Jamaludin
3. Dimas Wikan Pramudhito
4. Hari Widjajanto
5. I Made Surata
6. Johan N.B Nababan
AUDIT COMMITTEE
1. Laode M. Kamaluddin
2. Musyid Amal
3. Rukmana Nugraha Adhi
4. Zaelani
CORPORATE SECRETARY
Tri Hartono
HEAD OFFICE
Aneka Tambang Building
Jln. Letjen TB. Simatupang No. 1
Jakarta 12530

SHAREHOLDERS (January 2016)

1. Negara Republik Indonesia
2. Public (<5%)

15,620,000,000 :
8,410,764,725 :

DIVIDEND ANNOUNCEMENT
Bonus
Cash
Year
1997
1997
1998
1998
1999
2000
2000
2001
2001
2001
2002
2003
2004
2005
2005
2006
2007
2008
2009
2010
2011
2012
2013

Shares

Dividend
11.00
11.59
50.00
53.87
79.19
80.00
75.66

100 : 55
47.10
46.77
34.42
38.60
19.60
128.48
150.05
325.58
215.23
57.47
25.38
70.71
90.99
47.09
9.67

Cum Date
29-Jun-98
01-Oct-98
29-Jun-99
04-Oct-99
05-Jun-00
23-Jul-01
23-Oct-01
10-Jul-02
05-Aug-02
28-Oct-02
17-Jul-03
18-Jun-04
23-Dec-04
20-Jun-05
22-Jun-06
21-Jun-07
17-Jul-08
17-Jun-09
28-Jun-10
06-Jul-11
27-Jun-12
29-May-13
29-Apr-14

Ex Date
30-Jun-98
02-Oct-98
30-Jun-99
05-Oct-99
06-Jun-00
24-Jul-01
24-Oct-01
11-Jul-02
06-Aug-02
29-Oct-02
18-Jul-03
21-Jun-04
27-Dec-04
21-Jun-05
23-Jun-06
22-Jun-07
18-Jul-08
18-Jun-09
29-Jun-10
07-Jul-11
28-Jun-12
30-May-13
30-Apr-14

Recording
Date
09-Jul-98
12-Oct-98
08-Jul-99
13-Oct-99
14-Jun-00
27-Jul-01
29-Oct-01
17-Jul-02
09-Aug-02
01-Nov-02
21-Jul-03
23-Jun-04
29-Dec-04
23-Jun-05
27-Jun-06
26-Jun-07
22-Jul-08
22-Jun-09
01-Jul-10
11-Jul-11
02-Jul-12
03-Jun-13
05-May-14

65.00%
35.00%

Payment
Date
06-Aug-98
09-Nov-98
06-Aug-99
10-Nov-99
28-Jun-00
10-Aug-01
12-Nov-01
30-Jul-02
23-Aug-02
15-Nov-02
05-Aug-03
30-Jun-04
10-Jan-05
30-Jun-05
11-Jul-06
06-Jul-07
01-Aug-08
03-Jul-09
15-Jul-10
25-Jul-11
16-Jul-12
18-Jun-13
20-May-14

F
F
F
F
F
F
F
B
F
F
F
F
I
F
F
F
F
F
F
F
F
F

ISSUED HISTORY
No.
1.
2.
3.
4.
5.
6.
7.
8.
9.
10.

Type of Listing
Negara RI (Seri A)
First Issue
Company Listing
Bonus Shares
Stock Split
Right Issue I
Right Issue I
Right Issue I
Right Issue I
Right Issue I

Shares
1
430,769,000
799,999,999
676,922,950
7,630,767,800
9,770,941,207
1,419,898,697
1,738,706,667
1,144,096,939
418,661,465

Listing
Date
27-Nov-97
27-Nov-97
27-Nov-97
30-Jul-02
12-Jul-07
27-Oct-15
28-Oct-15
30-Oct-15
02-Nov-15
03-Nov-15

Trading
Date
16-Jun-10
27-Nov-97
31-Jul-98
30-Jul-02
12-Jul-07
27-Oct-15
28-Oct-15
30-Oct-15
02-Nov-15
03-Nov-15

Phone : (021) 780-5119, 789-1234, 781-2635

Fax
: (021) 781-2822, 789-1224
Homepage
Email

F/I

: www.antam.com
: corsec@antam.com

RESEARCH AND DEVELOPMENT DIVISION

19

ANTM Aneka Tambang (Persero) Tbk. [S]

Closing
Price*

Volume
(Mill. Sh)

2,400

800

2,100

700

1,800

600

1,500

500

1,200

400

900

300

600

200

300

100

Jan-12

Jan-13

Jan-14

Jan-15

Jan-16

Closing Price*, Jakarta Composite Index (IHSG) and

Mining Index
January 2012 - January 2016
120%
90%

79.2%

60%
30%
-30%
-60%

-65.2%
-83.0%

-90%
-120%

Jan 12

Jan 13

Jan 14

Jan 15

Jan 16

SHARES TRADED

2012

2013

2014

Volume (Million Sh.)

Value (Billion Rp)
Frequency (Thou. X)
Days

3,820
5,415
263
246

4,137
5,465
282
244

6,313
7,046
381
242

12,009
5,387
515
244

2,411
759
63
20

Price (Rupiah)
High
Low
Close
Close*

2,025
1,120
1,280
1,075

1,620
930
1,090
916

1,290
920
1,065
895

1,135
285
314
314

335
292
329
329

25.36
20.76
0.81

-13.51
3.23
0.84

-5.45
5.06
0.56

-5.71
5.67
0.59

RESEARCH AND DEVELOPMENT DIVISION

Freq.

Volume

Value

Month
Jan-12
Feb-12
Mar-12
Apr-12
May-12
Jun-12
Jul-12
Aug-12
Sep-12
Oct-12
Nov-12
Dec-12

High
1,900
2,025
1,950
1,880
1,740
1,420
1,430
1,310
1,430
1,380
1,310
1,310

Low
1,610
1,850
1,760
1,690
1,130
1,120
1,250
1,200
1,220
1,260
1,220
1,220

Close
1,880
1,960
1,800
1,720
1,150
1,340
1,280
1,240
1,350
1,280
1,240
1,280

(X)
21,460
19,018
18,690
20,048
36,598
44,270
19,719
13,345
25,003
18,561
12,016
14,100

Jan-13
Feb-13
Mar-13
Apr-13
May-13
Jun-13
Jul-13
Aug-13
Sep-13
Oct-13
Nov-13
Dec-13

1,450
1,410
1,410
1,460
1,390
1,280
1,320
1,420
1,540
1,620
1,610
1,300

1,280
1,260
1,270
1,340
1,260
960
930
1,160
1,290
1,410
1,250
990

1,360
1,290
1,370
1,380
1,280
1,000
1,160
1,330
1,420
1,600
1,260
1,090

22,216
21,263
21,935
29,241
12,742
19,890
35,090
28,844
26,297
19,048
20,019
25,778

334,911
276,248
369,713
379,964
163,731
222,828
484,551
459,193
466,526
291,081
304,490
383,286

459,571
370,664
498,521
531,390
219,021
239,560
558,097
604,265
670,454
444,388
419,207
449,913

21
20
19
22
22
19
23
17
21
21
20
19

Jan-14
Feb-14
Mar-14
Apr-14
May-14
Jun-14
Jul-14
Aug-14
Sep-14
Oct-14
Nov-14
Dec-14

1,110
1,080
1,190
1,265
1,290
1,210
1,270
1,275
1,225
1,110
1,010
1,120

950
995
1,025
1,065
1,140
1,070
1,085
1,185
1,070
925
920
945

1,030
1,040
1,135
1,175
1,200
1,090
1,270
1,195
1,110
970
980
1,065

43,472
34,919
53,411
38,135
37,606
20,978
24,346
21,286
25,680
35,500
20,237
25,530

652,147
573,538
1,188,495
798,966
849,434
284,324
403,327
316,265
282,688
400,479
247,078
315,920

670,288
597,164
1,334,140
930,016
1,038,684
330,285
476,916
391,847
327,543
390,151
237,171
321,526

20
20
20
20
18
21
18
20
22
23
20
20

Jan-15
Feb-15
Mar-15
Apr-15
May-15
Jun-15
Jul-15
Aug-15
Sep-15
Oct-15
Nov-15
Dec-15

1,135
1,080
1,020
925
840
780
685
655
540
540
380
337

1,015
990
850
790
760
675
475
450
465
372
306
285

1,065
27,277
1,005
15,857
865
18,637
795
13,826
760
14,217
680
14,582
475
16,768
500
46,189
486
34,277
378 131,861
315 131,304
314
50,579

358,666
198,657
173,597
119,720
142,077
105,278
144,244
739,580
416,378
3,888,004
4,300,732
1,421,659

386,504
206,880
176,292
111,098
114,866
77,529
131,865
428,743
208,489
1,600,412
1,499,127
445,595

21
19
22
21
19
21
19
20
21
21
21
19

335

292

2,410,865

759,355

20

Jan-16

4.08
PER (X)
8.49
PER Industry (X)
0.95
PBV (X)
* Adjusted price after corporate action

20

2015 Jan-16

Closing Price

Day

TRADING ACTIVITIES

Closing Price* and Trading Volume

Aneka Tambang (Persero) Tbk. [S]
January 2012 - January 2016

329

62,777

(Thou. Sh.) (Million Rp)

294,174
514,604
421,270
218,301
202,265
372,554
217,725
386,105
698,455
899,892
961,176 1,208,483
276,788
374,594
113,522
141,641
318,219
429,649
182,987
239,942
107,020
135,154
229,189
290,864

21
21
21
20
21
21
22
19
20
22
20
18

ANTM Aneka Tambang (Persero) Tbk. [S]

Financial Data and Ratios

Public Accountant : Tanudiredja, Wibisana, Rintis & Rekan (Member of PricewaterhouseCoopers Global Network)
Dec-11

Dec-12

Dec-13

Dec-14

Dec-15

Cash & Cash Equivalents

5,639,679

3,868,575

2,792,738

2,618,910

8,086,634

Receivables

1,347,420

1,846,918

1,189,692

1,098,938

578,145

Inventories

1,687,897

1,449,968

2,445,934

1,761,888

1,752,585

Current Assets

9,108,020

7,646,851

7,080,437

6,343,110 11,252,827

Fixed Assets

2,980,743

4,663,449

6,700,156

8,699,660 12,267,804

34,688

61,874

72,239

BALANCE SHEET

TOTAL ASSETS AND LIABILITIES (Bill. Rp)

(Million Rp except Par Value)

Other Assets
Total Assets

Assets

88,724

81,249

15,201,235 19,708,541 21,865,117 22,044,202 30,356,851

Growth (%)

21,000
14,000

0.82%

37.71%

7,000
-

855,830

3,041,406

3,855,512

3,862,917

4,339,330

3,834,819

5,216,118

6,251,724

7,700,802

Total Liabilities

4,429,192

6,876,225

9,071,630 10,114,641 12,040,132

55.25%

31.93%

11.50%

19.04%

3,800,000

3,800,000

3,800,000

3,800,000

3,800,000

953,846

953,846

953,846

953,846

2,403,076

9,538

9,538

9,538

9,538

24,031

100

100

100

100

100

9,700,471 11,748,920 11,758,294 10,890,770

9,593,048

Growth (%)

28,000

10.94%

3,573,362

Liabilities

35,000

29.65%

Long Term Liabilities

Current Liabilities

Book End : December

2011

2012

2013

2014

Dec-15

TOTAL EQUITY (Bill. Rp)

Authorized Capital
Paid up Capital
Paid up Capital (Shares)
Par Value
Retained Earnings
Total Equity

10,772,044 12,832,316 12,793,488 11,929,561 18,316,719

Growth (%)

19.13%

-0.30%

-6.75%

53.54%

Dec-12

Dec-13

Dec-14

Dec-15

18,317
16,242

12,832

12,793

2012

2013

13,490

10,772

11,930

10,738

7,986

5,234

INCOME STATEMENTS
Total Revenues

Dec-11

10,346,433 10,449,886 11,298,322

Growth (%)

1.00%

8.12%

9,420,631 10,531,505

-16.62%

11.79%

Cost of Revenues

7,318,735

8,427,158

9,682,521

Gross Profit

3,027,698

2,022,728

1,615,801

776,495

195,141

Expenses (Income)

1,014,820

1,126,864

1,194,769

955,900

896,579

Operating Profit

2,012,878

895,864

421,032

-179,405

-701,439

-55.49%

-53.00%

N/A

-290.98%

555,903

2,999,631

-553,962

-653,730

-967,335

2,568,781

3,895,495

-132,930

-833,135

-1,668,774

640,889

902,379

-542,878

-57,849

-227,921

1,927,892

2,993,116

409,947

-775,286

-1,440,853

55.25%

-86.30%

N/A

-85.85%

Growth (%)

2,482

-270

2011

2014

Dec-15

8,644,136 10,336,364
TOTAL REVENUES (Bill. Rp)
11,298

10,346

10,450

2011

2012

11,298

10,532
9,421

8,993

Other Income (Expenses)

Income before Tax
Tax
Profit for the period

Growth (%)

6,689

4,384

2,079

Period Attributable

1,927,890

2,993,115

409,944

-775,287

-1,440,852

Comprehensive Income

1,924,739

2,989,025

410,139

-775,179

912,556

Comprehensive Attributable

1,924,737

2,989,024

410,135

-775,180

912,557

RATIOS

Dec-11

Dec-12

Dec-13

Dec-14

Dec-15

Current Ratio (%)

1,064.23

251.42

183.64

164.21

259.32

90.99

47.09

9.67

Dividend (Rp)
EPS (Rp)
BV (Rp)

202.12

313.79

42.98

-81.28

-59.96

1,129.33

1,345.32

1,341.25

1,250.68

762.22

DAR (X)

0.29

0.35

0.41

0.46

DER(X)

0.41

0.54

0.71

0.85

0.66

ROA (%)

12.68

15.19

1.87

-3.52

-4.75

ROE (%)

17.90

23.32

3.20

-6.50

-7.87

GPM (%)

29.26

19.36

14.30

8.24

1.85

OPM (%)

19.45

8.57

3.73

-1.90

-6.66

NPM (%)

18.63

28.64

3.63

-8.23

-13.68

Payout Ratio (%)

45.02

15.01

22.50

5.62

3.68

0.89

Yield (%)

0.40

-226

2013

2014

Dec-15

PROFIT FOR THE PERIOD (Bill. Rp)

2,993
2,589

1,928
1,783

977

410

2014

Dec-15

170

-636

2011

2012

2013
-775

-1,442

RESEARCH AND DEVELOPMENT DIVISION

-1,441

21