JAKARTA. PT Aneka Tambang Tbk (ANTM) or Antam, experienced a loss of Rp.281.84 billion in the first quarter (Q1) of 2020, due to financial expenses which rose by 59.66% compared to the figure in the same period last year.
Kunto Hendrapawoko, Antam's Corporate Secretary, said in Q1 2020 the company faced fluctuations in commodity prices and the US dollar exchange rate against the rupiah. "This has also affected Antam's profitability," Hendrapawoko said through an official statement at the weekend.
Hendrapawoko stated that the total foreign exchange losses recorded by Antam in Q1 2020 reached Rp 362 billion.
Antam also recorded a 16.35% decline Year on Year (YoY) in its sales in Q1 2020 to Rp 5.2 trillion. In the same period last year, the state-owned mining company was able to record sales of Rp 6.22 trillion. (KR/AR)