JAKARTA – PT Timah (Persero) Tbk (TINS), the state-owned tin producer, reported a 5.14% year-on-year increase in net profit to IDR 1.31 trillion as of December 2025, supported by higher tin prices throughout the year.

“In 2025, the company recorded net profit of IDR 1.31 trillion, or 119% of the target set in the 2025 RKAP,” said Restu Widiyantoro in a statement on Thursday (23/4).

The performance was underpinned by a 6.41% rise in revenue to IDR 11.55 trillion, despite declines in tin production and sales volumes.

The company reported a 4% drop in tin ore production to 18.63 thousand tonnes (Sn), amid widespread illegal mining and community resistance to new mining sites.

This led to a 6% decline in refined tin output to 18.91 thousand metric tonnes.

Although tin sales also fell 5% to 16.63 thousand metric tonnes in 2025, a 13% increase in the average selling price to USD 35.24 thousand per tonne helped sustain revenue growth.

Export sales continued to dominate, accounting for 95% of total revenue, with key markets including Singapore, South Korea, Japan, as well as Europe and China.

“Export sales contributed around 24% of Indonesia’s total tin exports of 53,050 metric tonnes, and about 3% of global tin exports of 371,369 metric tonnes,” the company said.

However, higher global tin prices also lifted cost of revenue by 8.41%, as TINS continued to procure tin ore feedstock.

On the other hand, sharply lower freight costs reduced selling expenses by 43.08%.

As a result, net profit margin edged down slightly from 11.51% to 11.37% at the end of December 2025.

In 2026, the company plans to focus on aggressively restoring production capacity and strengthening value-added operations through downstreaming.

“As part of Indonesia’s Mining Industry Holding, the company is positioning itself to capitalise on strong global tin prices and the crackdown on illegal mining, which has significantly affected global tin supply,” management said.

According to Trading Economics, tin prices fell 1.49% to USD 49.93 thousand per tonne as of Tuesday (21/4). However, the commodity has surged 60.4% over the past year.

Tin futures in the UK even reached USD 50 thousand per tonne in April, up 20% since the start of the year.

This price hike was driven by supply uncertainty due to declining production in Indonesia and Myanmar, alongside rising demand from semiconductors, photovoltaic panels, and other energy transition technologies. (ZH)