By Rara Suratmi
IDX-listed gold mining firm PT Archi Indonesia Tbk (IDX: ARCI) recorded a total revenue of US$287.62 million in 2024, a 15.2% increase from US$249.63 million in the previous year, driven by stronger sales performance in its gold mining operations.
However, the company’s profit attributable to owners of the parent fell by 28% to US$10.45 million, compared to US$14.56 million in 2023. The decline was attributed primarily to a significant rise in cost of goods sold (COGS), which surged by 26% to US$227.10 million, and a 20.4% increase in finance costs to US$37.67 million.
Gross profit dropped to US$60.52 million, down from US$69.77 million in the previous year. Operating income remained relatively flat at US$56.60 million, supported by a notable increase in other operating income, which more than doubled to US$10.61 million.
Read also: Archi’s revenue rises, but cost pressures lead to net loss
Despite stable operations, the company’s earnings per share (EPS) decreased to US$0.0004, from US$0.0006 in 2023.
Total assets rose to US$865.40 million at year-end, up from US$803.58 million, primarily driven by increases in mine properties and receivables. The company also saw its equity grow to US$272.96 million, while liabilities increased to US$592.44 million.
Editing by Reiner Simanjuntak
