9M10 Adaro Energy Recorded 6% Increase in Net Revenue to US$2.0 Billion Due to 12% Production Growth

October 28, 2010, 11:41 am | Admin

PT Adaro Energy Tbk (IDX: ADRO) today announces consolidated unaudited net revenue for the nine month period ended 30thSeptember 2010 increased 6% to US$1.98 billion due to a 12% growth in production despite the 7% lower average selling price. Adaro Energy’s production and sales volumes in 9M10 both increased 12% to 31.84 million tonnes and 32.36 million tonnes respectively.

Lower than expected coal production volumes were caused by heavy rainfall during the period. Due to higher mining costs, caused by a higher strip ratio and longer overburden hauling distances, Adaro Energy’s cost of revenue increased 22% causing operating income to decline 16% to US$593 million. Net income decreased 43% to US$186 million, or a 52% decrease to Rp1,696 billion. Earnings per share decreased to Rp53.0 from Rp109.9.

General Media:
For further information, please contact:
Devindra Ratzarwin
Corporate Secretary
Tel: (6221) 521 1265
Fax: (6221) 5794 4685
Email: corsec@ptadaro.com

Financial Media:
For further information, please contact:
Mr. Cameron Tough
Head of Investor Relations
Tel: (6221) 521 1265
Fax: (6221) 5794 4685
Email: cameron.tough@ptadaro.com

Last modified on January 30, 2017, 11:42 am | 962