Summary of the Company's financial performance:
FINANCIAL PERFORMANCE ANALYSIS FOR YEAR ENDED 31 DECEMBER 2017 :
- The Company recorded revenues of Rp9.2 trillion, which increased by Rp2.2 trillion from the same period in 2016. This increase in revenue was driven by increased demand for world refined tin and increase in the average selling price of refined tin. Recorded during the year 2017 world tin consumption increased by 3.2%, especially in Japan, Europe and the United States that as of December 31, 2017 the Company's refined tin sales volume increased by 12% to 29,914 Mton from the previous year of 26,677 Mton. Meanwhile, the average selling price of the Company increased by 11% to $20,429/t from the previous year of $18,408/t.
- As of December 2017, Cost of revenues increased 31% from the previous year to Rp 7.7 trillion. Significant increase in tin production is one of the main causes of the increase in overall cost of revenue. The largest contribution from the increase comes from raw materials of tin ore by 92%, salaries & allowances 8% and fuel 6%. The cost of tin ore raw materials increased by 61% to Rp4.4 trillion and fuel increased by 25% to Rp527 billion. Meanwhile, the increase in salaries and allowances is one of the Company's appreciations for the achievement of performance improvement during 2017.
- EBITDA increased by 38% to Rp1.4 trillion from Rp1.0 trillion in the same period of 2016. The increase is in line with the improved average selling price of refined tin by the end of 2017, improving the Company's operational performance and efficiency in a sustainable manner.
- As of December 2017 the company's total capital expenditure amounted to Rp779 billion. Of the total capital expenditure, the Company has allocated Rp293 billion for machinery and installations, Rp68 billion for exploration, mining and production equipment where the cost is used for capacity enlargement on machinery and installation. The rest is used for production support facilities, recondition and replacement and for other operational needs.
Summary of the Company's operating performance: