Announcement • Jun 09
PT Atlas Resources Tbk, Annual General Meeting, Jun 30, 2026 PT Atlas Resources Tbk, Annual General Meeting, Jun 30, 2026. Reported Earnings • May 05
First quarter 2026 earnings released: EPS: US$0.002 (vs US$0.003 in 1Q 2025) First quarter 2026 results: EPS: US$0.002 (down from US$0.003 in 1Q 2025). Revenue: US$106.9m (up 8.3% from 1Q 2025). Net income: US$6.08m (down 42% from 1Q 2025). Profit margin: 5.7% (down from 11% in 1Q 2025). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 24% per year but the company’s share price has increased by 21% per year, which means it is well ahead of earnings. Reported Earnings • Apr 03
Full year 2025 earnings released: EPS: US$0 (vs US$0 in FY 2024) Full year 2025 results: EPS: US$0 (in line with FY 2024). Revenue: US$363.7m (up 15% from FY 2024). Net income: US$1.29m (down 2.4% from FY 2024). Profit margin: 0.4% (in line with FY 2024). Over the last 3 years on average, earnings per share has fallen by 42% per year but the company’s share price has increased by 8% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • Feb 02
Investor sentiment deteriorates as stock falls 18% After last week's 18% share price decline to Rp264, the stock trades at a trailing P/E ratio of 8x. Average trailing P/E is 17x in the Oil and Gas industry in Indonesia. Total returns to shareholders of 3.1% over the past three years. Reported Earnings • Nov 04
Third quarter 2025 earnings released: US$0.001 loss per share (vs US$0.001 loss in 3Q 2024) Third quarter 2025 results: US$0.001 loss per share (in line with 3Q 2024). Revenue: US$103.1m (up 46% from 3Q 2024). Net loss: US$3.60m (loss narrowed 22% from 3Q 2024). Over the last 3 years on average, earnings per share has fallen by 56% per year but the company’s share price has only fallen by 2% per year, which means it has not declined as severely as earnings. Board Change • Oct 24
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 2 experienced directors. 6 highly experienced directors. No independent directors (3 non-independent directors). Independent Commissioner Justinus Supartono was the last independent director to join the board, commencing their role in 2016. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Announcement • Jun 03
PT Atlas Resources Tbk, Annual General Meeting, Jun 23, 2025 PT Atlas Resources Tbk, Annual General Meeting, Jun 23, 2025. Location: jl kemang raya no 43 kecamatan mampang, prapatan jakarta selatan 12730 kota adm, jakarta selatan dki, Indonesia Reported Earnings • Nov 02
Third quarter 2024 earnings released: US$0.001 loss per share (vs US$0.001 loss in 3Q 2023) Third quarter 2024 results: US$0.001 loss per share (in line with 3Q 2023). Revenue: US$70.8m (up 13% from 3Q 2023). Net loss: US$4.59m (loss widened 50% from 3Q 2023). Over the last 3 years on average, earnings per share has fallen by 45% per year but the company’s share price has only fallen by 5% per year, which means it has not declined as severely as earnings. New Risk • Aug 29
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Indonesian stocks, typically moving 9.8% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Share price has been volatile over the past 3 months (9.8% average weekly change). Market cap is less than US$100m (Rp1.08t market cap, or US$70.5m). Reported Earnings • Aug 02
Second quarter 2024 earnings released: EPS: US$0 (vs US$0 in 2Q 2023) Second quarter 2024 results: EPS: US$0 (in line with 2Q 2023). Revenue: US$84.4m (up 36% from 2Q 2023). Net income: US$1.70m (down 3.1% from 2Q 2023). Profit margin: 2.0% (down from 2.8% in 2Q 2023). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 9% per year whereas the company’s share price has fallen by 5% per year. Announcement • May 19
PT Atlas Resources Tbk, Annual General Meeting, Jun 26, 2024 PT Atlas Resources Tbk, Annual General Meeting, Jun 26, 2024. Location: jakarta Indonesia Reported Earnings • May 12
First quarter 2024 earnings released: US$0.001 loss per share (vs US$0 in 1Q 2023) First quarter 2024 results: US$0.001 loss per share (further deteriorated from US$0 in 1Q 2023). Revenue: US$49.3m (down 33% from 1Q 2023). Net loss: US$2.87m (down US$2.91m from profit in 1Q 2023). Over the last 3 years on average, earnings per share has increased by 29% per year but the company’s share price has only increased by 20% per year, which means it is significantly lagging earnings growth. New Risk • Apr 10
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Indonesian stocks, typically moving 12% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risk Share price has been highly volatile over the past 3 months (12% average weekly change). Minor Risk Market cap is less than US$100m (Rp947.0b market cap, or US$59.7m). Reported Earnings • Apr 02
Full year 2023 earnings released: EPS: US$0 (vs US$0.007 in FY 2022) Full year 2023 results: EPS: US$0 (down from US$0.007 in FY 2022). Revenue: US$280.6m (up 14% from FY 2022). Net loss: US$954.0k (down 104% from profit in FY 2022). Over the last 3 years on average, earnings per share has increased by 64% per year but the company’s share price has only increased by 13% per year, which means it is significantly lagging earnings growth. Reported Earnings • Nov 04
Third quarter 2023 earnings released: US$0.001 loss per share (vs US$0.003 profit in 3Q 2022) Third quarter 2023 results: US$0.001 loss per share (down from US$0.003 profit in 3Q 2022). Revenue: US$62.5m (down 12% from 3Q 2022). Net loss: US$3.07m (down 125% from profit in 3Q 2022). Over the last 3 years on average, earnings per share has increased by 84% per year but the company’s share price has fallen by 14% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Oct 02
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to Rp376, the stock trades at a trailing P/E ratio of 8.8x. Average trailing P/E is 7x in the Oil and Gas industry in Indonesia. Total loss to shareholders of 14% over the past three years. New Risk • Aug 16
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Indonesian stocks, typically moving 10% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (currently running at an operating cash loss). High level of non-cash earnings (23% accrual ratio). Minor Risks Share price has been volatile over the past 3 months (10% average weekly change). Profit margins are more than 30% lower than last year (3.2% net profit margin). Shareholders have been diluted in the past year (9.6% increase in shares outstanding). Market cap is less than US$100m (Rp981.3b market cap, or US$64.1m). Valuation Update With 7 Day Price Move • Aug 14
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to Rp230, the stock trades at a trailing P/E ratio of 5.5x. Average trailing P/E is 6x in the Oil and Gas industry in Indonesia. Total loss to shareholders of 49% over the past three years. New Risk • Aug 09
New major risk - Financial position The company's debt is not well covered by operating cash flow. Currently running at an operating cash loss. This is considered a major risk. If the company's operating cash flows are too small relative to the size of their debt, it increases their balance sheet risk. The company has less cash from operations to cover its expenses from servicing large debt and it increases the risk of liquidity issues. It also extends the time it would take for the company to pay back the debt in full, meaning it may not be able to easily pay it all off in a distress scenario. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (currently running at an operating cash loss). High level of non-cash earnings (23% accrual ratio). Minor Risks Profit margins are more than 30% lower than last year (3.2% net profit margin). Shareholders have been diluted in the past year (9.6% increase in shares outstanding). Market cap is less than US$100m (Rp672.5b market cap, or US$44.3m). Reported Earnings • Aug 08
Second quarter 2023 earnings released: EPS: US$0 (vs US$0.004 in 2Q 2022) Second quarter 2023 results: EPS: US$0 (down from US$0.004 in 2Q 2022). Revenue: US$62.2m (up 15% from 2Q 2022). Net income: US$1.76m (down 87% from 2Q 2022). Profit margin: 2.8% (down from 24% in 2Q 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 116% per year but the company’s share price has fallen by 24% per year, which means it is significantly lagging earnings. Reported Earnings • Nov 28
Third quarter 2022 earnings released: EPS: US$0.004 (vs US$0.001 in 3Q 2021) Third quarter 2022 results: EPS: US$0.004 (up from US$0.001 in 3Q 2021). Revenue: US$71.0m (up 102% from 3Q 2021). Net income: US$12.3m (up 332% from 3Q 2021). Profit margin: 17% (up from 8.1% in 3Q 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 104% per year but the company’s share price has fallen by 15% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Nov 25
Investor sentiment improved over the past week After last week's 18% share price gain to Rp352, the stock trades at a trailing P/E ratio of 4.8x. Average trailing P/E is 6x in the Oil and Gas industry in Indonesia. Total loss to shareholders of 45% over the past three years. Board Change • Nov 16
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 3 experienced directors. 5 highly experienced directors. No independent directors (3 non-independent directors). Independent Commissioner Justinus Supartono was the last independent director to join the board, commencing their role in 2016. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Valuation Update With 7 Day Price Move • Nov 03
Investor sentiment deteriorated over the past week After last week's 16% share price decline to Rp300, the stock trades at a trailing P/E ratio of 4.1x. Average trailing P/E is 6x in the Oil and Gas industry in Indonesia. Total loss to shareholders of 53% over the past three years. Valuation Update With 7 Day Price Move • Sep 19
Investor sentiment improved over the past week After last week's 30% share price gain to Rp482, the stock trades at a trailing P/E ratio of 6.3x. Average trailing P/E is 7x in the Oil and Gas industry in Indonesia. Total loss to shareholders of 35% over the past three years. Reported Earnings • Sep 06
Second quarter 2022 earnings released: EPS: US$0.005 (vs US$0 in 2Q 2021) Second quarter 2022 results: EPS: US$0.005 (up from US$0 in 2Q 2021). Revenue: US$54.1m (up 217% from 2Q 2021). Net income: US$13.2m (up US$12.7m from 2Q 2021). Profit margin: 24% (up from 2.9% in 2Q 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 79% per year but the company’s share price has fallen by 20% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Sep 01
Investor sentiment improved over the past week After last week's 18% share price gain to Rp270, the stock trades at a trailing P/E ratio of 17.7x. Average trailing P/E is 8x in the Oil and Gas industry in Indonesia. Total loss to shareholders of 62% over the past three years. Valuation Update With 7 Day Price Move • Jul 18
Investor sentiment deteriorated over the past week After last week's 17% share price decline to Rp185, the stock trades at a trailing P/E ratio of 12x. Average trailing P/E is 8x in the Oil and Gas industry in Indonesia. Total loss to shareholders of 77% over the past three years. Reported Earnings • May 11
Full year 2021 earnings released: EPS: US$0 (vs US$0.005 loss in FY 2020) Full year 2021 results: EPS: US$0 (up from US$0.005 loss in FY 2020). Revenue: US$115.3m (up 174% from FY 2020). Net loss: US$478.0k (loss narrowed 97% from FY 2020). Over the last 3 years on average, earnings per share has increased by 56% per year but the company’s share price has fallen by 33% per year, which means it is significantly lagging earnings. Board Change • Apr 27
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 7 experienced directors. 4 highly experienced directors. 1 independent director (5 non-independent directors). Independent Commissioner Justinus Supartono was the last independent director to join the board, commencing their role in 2016. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Is New 90 Day High Low • Feb 18
New 90-day low: Rp166 The company is down 65% from its price of Rp470 on 20 November 2020. The Indonesian market is up 11% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Oil and Gas industry, which is up 12% over the same period. Is New 90 Day High Low • Feb 01
New 90-day low: Rp216 The company is down 52% from its price of Rp446 on 03 November 2020. The Indonesian market is up 13% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Oil and Gas industry, which is up 18% over the same period. Is New 90 Day High Low • Jan 27
New 90-day low: Rp220 The company is down 51% from its price of Rp446 on 21 October 2020. The Indonesian market is up 19% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Oil and Gas industry, which is up 22% over the same period. Is New 90 Day High Low • Jan 05
New 90-day low: Rp378 The company is down 14% from its price of Rp440 on 08 October 2020. The Indonesian market is up 22% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Oil and Gas industry, which is up 30% over the same period. Is New 90 Day High Low • Dec 21
New 90-day low: Rp392 The company is down 12% from its price of Rp444 on 23 September 2020. The Indonesian market is up 23% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Oil and Gas industry, which is up 29% over the same period. Is New 90 Day High Low • Dec 05
New 90-day low: Rp414 The company is down 8.0% from its price of Rp450 on 04 September 2020. The Indonesian market is up 10.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Oil and Gas industry, which is up 18% over the same period. Is New 90 Day High Low • Nov 09
New 90-day high: Rp550 The company is up 22% from its price of Rp450 on 11 August 2020. The Indonesian market is up 2.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Oil and Gas industry, which is down 7.0% over the same period. Reported Earnings • Oct 08
First half earnings released Over the last 12 months the company has reported total losses of US$27.7m, with losses widening by 154% from the prior year. Total revenue was US$49.6m over the last 12 months, down 5.7% from the prior year. 
