Markets Mining & Energy

ADRO Posts USD 299 M Core Profit

Adaro Energy Tbk (ADRO) booked a core profit of USD 299 million in the first half
of 2017, up 76 percent over the same period last year. The company’s performance is
sustained by higher operating revenues as global coal price increases.

The average coal selling price in the first half of 2017 increased 42 percent yoy
resulting a revenue growth of 32 percent to USD 1.55 billion.

The coal mining and trading division contributed 93 percent of total revenues.
Total coal production and sales volume reached 25.13 million tons and 25.27 million
tons respectively.

On the other hand, the company’s cost of revenue also rose 16 percent to USD 1.02
billion due to higher mining costs, particularly the price of fuel oil (BBM) and
royalty payments amounting to USD 161 million to Indonesian government, up 36
percent over the same period last year.

“Operational EBITDA, excluding non-operating components, rose 58 percent to USD 626
million with higher average selling prices and cost efficiency,” said Garibaldi
Thohir, President Director of ADRO. The company has the opportunity to reach its
operational EBITDA target in the range of USD 900 million to USD 1.1 billion with
this achievement. The operational EBITDA margin reached 40.4 percent, up 20 percent
over the same period last year.

On Tuesday (29/8), ADRO dropped 1.06 percent to IDR 1,870. (*)

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Hari Widowati

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