Adaro Energy Lowers Costs and Increases Production Despite Downturn

August 29, 2013, 11:58 am | Admin

PT Adaro Energy Tbk (IDX: ADRO) today lodged its consolidated financial statements reviewed by public accounting firm Tanudiredja, Wibisana & Rekan (a member firm of PricewaterhouseCoopers global network), for the six months period ending June 30, 2013. Adaro achieved record thermal coal production of 13.52 million tonnes (Mt) in the second quarter, and increased production by 8% in the first half of 2013 to 24.94 Mt. During the period, Adaro decreased cost of revenue by 5.4% to US$1,228.1 million and lowered cash cost (exroyalty) by 7% year over year to US$35.51 per tonne. Due to strong production and lower costs, Adaro recorded net income of US$116 million. Adaro’s EBITDA margin was 26.2%, remaining among the best for Indonesian thermal coal producers. The balance sheet remained strong with net debt to EBITDA of 2.14x and access to nearly US$1 billion of liquidity.

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, 12:00 pm | 1132