Jakarta, July 28, 2026 -- PT TIMAH (Persero) Tbk (“the Company”; IDX: TINS) today announced its Consolidated Financial Statements for the period ended June 30, 2026, reporting significant growth in both financial and operational performance.
Global Tin Market Conditions
The global tin market remained fundamentally strong throughout the first half of 2026 despite economic volatility, geopolitical uncertainty, and evolving international trade policies that continued to influence market sentiment. Tin prices remained at a substantially higher level than in the same period last year, supported by tight global supply due to limited mine production in several major producing countries.
The average Cash Settlement Price (CSP) for tin on the London Metal Exchange (LME) during the first half of 2026 reached USD50,319.19 per metric ton, an increase of 56.68% compared with USD32,115.77 per metric ton during the same period last year. This price increase reflects the continued strength of the tin market's fundamentals, although price movements remain influenced by supply dynamics and developments in the global economy.
As the first half of 2026 progressed, global tin supply conditions began to improve, as reflected in rising metal inventories at LME warehouses and recovering production in several regions. Tin inventories in LME warehouses stood at 8,575 tons at the end of June 2026, an increase of 58.36% compared with 5,415 tons at the beginning of 2026.
On the demand side, global tin market fundamentals remained solid, with solder continuing to account for approximately 50% of total global consumption, primarily driven by the semiconductor and electronics industries. Demand is expected to remain positive as digital transformation and the global energy transition continue to drive investment in artificial intelligence (AI), data centers, electric vehicles (EVs), energy storage systems, and electrical infrastructure. These developments are expected to further strengthen tin's role as a strategic raw material for a wide range of modern technology applications.
According to the CRU Tin Monitor, global refined tin production during the first half of 2026 totaled 173,536 tons, while global refined tin consumption reached 179,256 tons. This indicates that the global tin market remained in a supply deficit, which is expected to continue supporting positive industry prospects in the second half of 2026.
Financial Performance
The Company recorded revenue of Rp10.42 trillion in the first half of 2026, an increase of 247% compared with Rp4.22 trillion in the first half of 2025. The increase was driven by higher sales volumes and rising average selling prices for refined tin amid favorable market conditions.
In line with revenue growth, the Company posted operating profit of Rp3.48 trillion, representing a significant increase from Rp0.38 trillion in the first half of 2025. The Company also recorded EBITDA of Rp3.90 trillion, up 363% from Rp0.84 trillion in the first half of 2025.
Meanwhile, the Company's net profit for the first half of 2026 reached Rp2.71 trillion, exceeding the Company's full-year 2026 net profit target of Rp1.61 trillion, or 169% of the target.
From a financial position perspective, the Company's total assets increased by 21% to Rp16.45 trillion in the first half of 2026, compared with Rp13.64 trillion at the end of 2025. Total liabilities stood at Rp5.90 trillion, up 13% from Rp5.23 trillion at year-end 2025. Meanwhile, shareholders' equity increased by 25% to Rp10.55 trillion from Rp8.41 trillion at the end of 2025, supported by the Company's net profit generated during the first half of 2026.
The Company's financial performance was also reflected in significant improvements in profitability. During the first half of 2026, the Company recorded an Operating Margin of 33.24% (1H25: 9.01%), an EBITDA Margin of 37.39% (1H25: 19.92%), and a Net Profit Margin of 26.05% (1H25: 7.11%). In addition, the Company achieved a Return on Assets (ROA) of 16.50% (1H25: 2.20%) and a Return on Equity (ROE) of 25.74% (1H25: 3.57%), demonstrating its ability to optimize the utilization of assets and capital to create value for shareholders.
For more information, please visit: PT TIMAH (Persero) Tbk Reports First Half 2026 Net Profit
