• Adhi Kartiko Pratama clarified its H1 2026 profit rose 80.8% to IDR 170.14 billion, despite operating cash flow of -IDR 106.48 billion.
• Cash divergence driven mainly by a one-off IDR 185.93 billion forestry administrative fine payment tied to a March 2026 ministerial decree.
• Working-capital build also weighed on cash, led by higher trade receivables and inventories from increased nickel ore sales volumes.
• Short-term bank loans climbed to IDR 361.79 billion to fund working capital; management cited ongoing covenant compliance.
• All H1 nickel ore sales went to related-party Energy Metal Indonesia under a 2.5 million WMT purchase commitment; 92% of June receivables collected by end-July.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. PT Adhi Kartiko Pratama Tbk published the original content used to generate this news brief via Indonesia Stock Exchange (IDX) (Ref. ID: 32148010) on September 11, 2026, and is solely responsible for the information contained therein.