UK Steel Criticizes Budget for Ignoring High Electricity Costs Facing British Steelmakers

After commencing aluminium sales, Indonesia-based PT Alamtri Minerals Indonesia Tbk (ADMR) posted a net profit of USD 317.53 million (IDR 5.75 trillion) for the first nine months of 2026, up 55.5 per cent year on year. The new aluminium operation supported revenue growth, with export markets accounting for more than three-quarters of earnings. In the third quarter (Q3), aluminium sales generated USD 522.4 million; by September 2026, total revenue had climbed 85.59 per cent to more than USD 1.2 billion.

Exports Drive Revenue as Margins Narrow

By September, exports accounted for 75.28 per cent of revenue, while domestic sales generated USD 309.77 million. Singapore was ADMR’s largest export market, generating USD 576.97 million, or 46.05 per cent of total revenue. After making its first primary aluminium shipments in June 2026, the company began supplying Switzerland in the third quarter, generating USD 221.56 million in revenue there and expanding into the market after losing Hong Kong at the start of 2026. Aluminium sales costs totalled USD 337.79 million, increasing ADMR’s cost of revenue. The company also recorded foreign exchange losses of USD 8.27 million and other investment losses of USD 9.45 million.

• ADMR’s net profit margin narrowed from 30.24 per cent in September 2025 to 25.34 per cent by the end of Q3 2026.
• Despite stronger financial results, ADMR’s share price fell 24.01 per cent year to date, closing at IDR 1,250 (USD 0.069) on October 30.
• PT Alamtri Resources Indonesia Tbk (ADRO) retains an 85.45 per cent stake in ADMR, which has a free float of 11.9 per cent.
• Bank Indonesia’s JISDOR rate of IDR 18,138 per US dollar on October 30 is cited as the basis for both USD and IDR conversions.