ANTM posted a strong 9M21 earnings with revenue grew by 46.7% YoY to IDR 26.5 trillion and net earnings rose 104.1% YoY to IDR 1.71 trillion. ANTM’s better-than-expected results were on the back of surging global gold price (4.4% from July to August) after The Fed’s tapering announcement. This also helped increase ASP by 1.7% throughout Q3-21 and boosted ANTM’s domestic gold sales volume by 34.3% YoY.
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