Alamtri Minerals’ aluminium sales expand to Switzerland, lift 9M26 profit to $317.5m
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Indonesia-based PT Alamtri Minerals Indonesia Tbk (ADMR) recorded a 55.5 per cent year-on-year increase in net profit to USD 317.53 million (IDR 5.75 trillion) in the first nine months of 2026, post the commencement of aluminium sales. The company’s new aluminium business helped drive revenue growth, while export markets accounted for more than three-quarters of its earnings.
Alamtri’s aluminium sales contributed USD 522.4 million to ADMR’s third-quarter (Q3) revenue, helping lift total revenue by 85.59 per cent to more than USD 1.2 billion through September 2026.
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A strong export revenue backed by aluminium sales
Domestic sales generated USD 309.77 million in revenue as of September, while exports contributed the remaining 75.28 per cent.
After carrying out its first shipments of primary aluminium in June 2026, ADMR began supplying aluminium to Switzerland in Q3, generating USD 221.56 million in revenue. The expansion follows the loss of its Hong Kong market at the beginning of 2026.
Singapore remained the company’s largest export destination, with sales of USD 576.97 million, representing 46.05 per cent of total revenue.
However, aluminium sales costs reached USD 337.79 million, adding to the company’s cost of revenue. ADMR also reported foreign exchange losses of USD 8.27 million and other investment losses of USD 9.45 million.
These pressures narrowed its net profit margin from 30.24 per cent in September 2025 to 25.34 per cent by the end of Q3 2026.
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However, despite the stronger financial performance, ADMR’s share price has moved in the opposite direction. Its shares declined 24.01 per cent from the beginning of the year, closing at IDR 1,250 (USD 0.069) on October 30.
PT Alamtri Resources Indonesia Tbk (ADRO) continues to hold 85.45 per cent of ADMR, while the company’s free float stands at 11.9 per cent.
The IDR conversion is based on Bank Indonesia’s JISDOR exchange rate of IDR 18,138 per US dollar on October 30.
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