MIND ID Group, INALUM Catact Positive Performance Semester 1 Year 2022

Jakarta, 19 August 2022 – MIND ID, as Holding BUMN Mining Industry in Indonesia has mandate to manage mineral and coal resources in Indonesia along with its members, consisting of: PT Antam Tbk, PT Bukit Asam, PT Freeport Indonesia, PT Inalum (Persero), and PT Timah Tbk, to run mining operations in accordance with the principles of good mining practice. In addition also maintains productive performance and patent synergy as well as its collaboration, it is reflected on the positive performance of PT Inalum (Persero) in the semester 1 year 2022.

PT Indonesia Asahan Aluminum (Persero) or INALUM recorded positive performance in the semester of 1 year 2022 with increased revenue 34,4% (yoy) than the previous year. In addition to the value of revenue, the company’s assets also increase up to 8,2% (yoy) than the previous year.

The Operation and Portfolio of PT INALUM (Persero) Danny Praditya mentions that INALUM successfully proves positive performance although the aluminum market faces the global challenges of Pandemi Covid-19 for the last two years. With the achievement, the INALUM is optimistic of the performance of 2022 is better than the previous year.

“INALUM is proven to be able to agile in dealing with challenges. The positive performance is good from the side of revenue and production proves Inalum agup answers the challenges in the domestic and global aluminium market. Of course we still have to work hard until the end of 2022, but we are optimistic the performance of this year will be positive from the previous year,” said Danny.

Revenue INALUM in the semester 1 year 2022 not only rose by 34.4% of the previous year (yoy) but also higher than 28,7% of RKAP INALUM 2022. This increase is affected by a higher price of aluminum 27% of the estimated RKAP. The result, the company’s net income has been achieved higher 29.8% of the previous year (yoy) or higher than the early forecast of the year. Meanwhile, the company’s assets are increasing as a result of increased revenue and increased assets remain due to reva. This growth also occurs along with the strategic actions of the company in the development of the company's business.

Positive schedule is also proven in production volume, INALUM produces 114,654 metric tons of aluminum, higher than the target RKAP Semester 1 by 113.055 metric tons. While in sales performance, the company managed to rot sales by 121.967 metric tons where more than 70% are sold for the fulfillment of domestic market needs.

“We are optimistic to maintain positive results in the middle of this 2022 year. In the future, we hope to speed up some strategic corporate action in order to synergistic the aluminum industry, from hulu to downstream so that the benefits can be felt not only by the company, but also by society and Indonesia,” said Danny.

For this, as one – the only MIND Group of aluminum producing ID, INALUM is doing some strategic corporate action among other Deduction Furnace Technology Upgrading Project, Smelter Optimization of Kuala Tanjung, Smelter Construction Grade Alumina Refinery in Mempawah, and Construction of IAA Remelt Aluminum. The strategic project is expected to make INALUM is able to meet the needs of the aluminum market that still has a large potential in Indonesia and Regional.

Delivery with NKRI’s Independence warning to 77, as a INALUM donation for aluminum downstreaming, which presents subsidiary of the company called Indonesia Aluminium Alloy (IAA). In this year, IAA made a soft commissioning project revamping remelt facilities and Billet manufacturing. It is expected that the presence of IAA will increase the production capacity of billet up to 50 thousand MT per year and is able to meet the needs of domestic markets. In addition, INALUM also patents collaboration and synergy with other BUMN such as PLN in order to create energy availability.