Refishowcase Business & Finance

PT Aneka Tambang Tbk (ANTM) recorded 9.84% decline in income in the year 2009. The growth of gold sales performance of 57.75% the company managed to restrain the rate of price decline by 33% ferronickel that makes ferronickel company revenues fell 40%.

This was conveyed in a company statement published on Tuesday (2/2/2010).

In the year 2009, ANTM recorded unaudited revenue of Rp 8.647 trillion, down 9.84% from the year 2008 amounting to Rp 9.591 trillion. Contribution biggest decline came from ferronickel income.

ANTM ferronickel production during 2009 as many as 12,550 tons, down 29% from the year 2008 as much as 17,566 tons. Ferronickel sales volume in 2009 of 14,191 tons, down 17% from the year 2008 as much as 17,025 tons.

The average price of ferronickel received by the company in 2009 amounted to U.S. $ 6,63 / lb, down 33% from the year 2008 amounted to U.S. $ 9.91 / lb. This causes ANTM ferronickel income was recorded at 2.106 trillion in 2009, down 40% from the year 2008 amounting to Rp 3.517 trillion.

ANTM nickel ore production in 2009 of 5.782 million wmt, down 12% from the year 2008 as many as 6.571 million wmt. Nickel ore sales volume of 4.901 million wmt, down 8% from the previous year as many as 5.342 million wmt. Revenue from the company nickel ore reached Rp 1.673 trillion, down 43.38% from the year 2008 amounting to Rp 2.955 trillion.

ANTM gold production in 2009 as much as 2626 pounds, down 7% from the year 2008 as much as 2832 kg. ANTM gold sales volume recorded at 12,893 kg, up 31% from the previous 9820 kg.

The average price of gold revenue the company earned U.S. $ 970.97 / toz, up 11% from the previous U.S. $ 873/toz. ANTM gold income in the export market was recorded at Rp 1.614 trillion, down 23% from the previous Rp 2.098 trillion.

But gold ANTM income in the domestic market reached USD 2.706 billion, soared 322% from the previous USD 641.011 billion. Total income ANTM gold in the domestic market and exports reached USD 4.321 trillion, up 57.75% from the year 2008 amounting to Rp 2.739 trillion.

This means that gold income portion of ANTM took 49.97% of total revenues in 2009 ANTM or contributed the highest contribution of ferronickel income than that of 40.67% and sales of nickel ore for only 19.34%.

An international rating agency Moody `s said, the president of Iceland refusal to approve a compensation agreement with London and The Hague in the collapse of Icesave bank country complicates the prospects of recovery.

Although Iceland is not downgraded or put on notice, as did the other ranking, Moody `s Investors Service said the move” has implications for credit is uncertain, but it would be difficult for any short-term plan (for Iceland) to get out of the economic crisis and finance. ” Read the rest of this entry »