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ZINC sales grew 38% in 2021

www.idnfinancials.com

Wed 11 May 2022, 12:01 PM

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PT Kapuas Prima Coal Tbk (“ZINC”), posted growth in performance both in terms of sales and net income during 2021. ZINC recorded sales of IDR838.8 billion, an increase of 38% compared to 2020 which was recorded at IDR608.1 billion. Meanwhile, ZINC's net income also shot up 165% to reach IDR77.2 billion from IDR29.1 billion in the same period in the previous year. This achievement was driven by additional sales of iron concentrates amounting to IDR126.3 billion and sales of ZINC iron ore which increased very significantly in 2021 reaching 734% or IDR61.8 billion. 

ZINC Director Evelyne Kioe explained, “The year 2021 had been quite challenging for the dynamics of the domestic and global industry. Because several new variants of the Covid-19 virus emerged that year, slightly hampering the economic recovery. However, we are grateful that we were able to go through this challenging year with satisfactory results. Supported by rising commodity prices and increasing demand for concentrates, ZINC's sales had still been able to grow in 2021. We hope that in 2022, ZINC's sales can grow even better with a sales target of around IDR1.2 trillion.” 


During 2021, ZINC's sales were still dominated by sales of zinc concentrate (Zn) amounting to IDR386.8 billion or an increase of about 27% compared to the same period in 2020 which was recorded at IDR304.9 billion. Then ZINC silver sales also increased by 10% to IDR185.4 from IDR168.8 billion in 2020. Meanwhile, sales for lead concentrate (Pb) were recorded at IDR134.0 billion or increased by 5% from IDR127.0 billion in 2020. 

Evelyne continued, seeing that 2022 economy has started improving compared to the previous year, ZINC is optimistic that this year it can achieve the performance targets that have been set, with ZINC projecting to produce 550,000–642,000 tonnes of ore. As for sales, ZINC targets to sell around 31,980 tonnes of lead concentrate and 61,245 tonnes of zinc concentrate in 2022. We also have a target for iron ore of 180,000 tonnes by the end of the year. 

Source: https://www.idnfinancials.com/news/42978/zinc-sales-grew

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