MBMA’s EBITDA grew by 22% YoY in 9M25, in line with improved cost of revenue efficiency. The majority of MBMA’s EBITDA was supported by the NPI segment, reflecting the Company’s...

MDKA's revenue declined amidst the transition and optimization of its nickel business. MDKA's revenue decrease 23% YoY to US$1.29 billion in 9M25 from US$1.67 billion in 9M24. MDKA's EBITDA Increase...

SMRA’s net profit declined by 41% YoY to Rp549.6 billion in 9M25. This decline was mainly driven by a 15% YoY decrease in revenue to Rp6.41 trillion in 9M25. On...

ADRO is undergoing a post-divestment transition marked by weaker financial performance due to lower global coal prices, although higher coal sales volumes and relatively stable margins indicate that profitability pressure...

AADI’s revenue in 9M25 was in line with our expectations. The company recorded revenue of US$1.21 billion in 3Q25 (-2.1% QoQ; -13.2% YoY), resulting in a 10.9% YoY decline in...

AALI posted a solid 3Q25 performance with revenue of IDR 7.67tn (+3.4% QoQ; +28.4% YoY), bringing 9M25 revenue to IDR 22.12tn, above both our estimate and consensus. Growth was supported...

Saprolite Ore Unlocking New Revenue Stream in 9M25. INCO booked its initial saprolite ore sales of 896,263 Wet Metric Ton (Wmt) from the Bahodopi and Pomalaa blocks in 3Q25, earlier...

ANTM’s revenue expanded 66.7% YoY to IDR 71.03 trillion in 9M25. This growth was supported by a 64.3% YoY increase in gold sales to IDR 58.67 trillion, a 171.9% YoY...

>PT Sinergi Inti Andalan Prima Tbk (INET) continues to strengthen its positioning as an integrated digital-infrastructure operator, underpinned by fast-expanding capacity and accelerating contribution from newly developed business segments. Since...