Dear Capital Market Participants,
Adaro Energy has today lodged to the Indonesia Stock Exchange and OJK our Quarterly Activities Report for the first quarter of 2014.
Highlights of the quarter:
• We achieved a record quarterly coal production of 13.99 million tonnes (Mt), a 23% increase compared to the previous year, due to the combination of strong contractors’ performance and normal, though seasonally rainy weather conditions.
• We are on track to achieve our production guidance of 54Mt to 56Mt (which is pending government approval) for 2014.
• We continued to see solid demand for our coal during the quarter. We sold 13.85Mt, a 24% increase compared to the previous year. Our new product, E4900, continued its success and accounted for more than 50% of our total sales during the quarter.
• We removed 68.22 million bank cubic meter (Mbcm) of overburden, a 10% increase compared to previous year. We were able to lower our strip ratio to 4.88x without harming our long-term mine plan due to the stripping activities we carried out in 2013 and during the years of higher coal prices. We are on track to achieve our consolidated planned strip ratio of 5.78x for 2014.
Financial Media Contact:
Cameron Tough, Head of Investor Relations & Corporate Secretary
investor.relations@ptadaro.com
Public & General Media Contact:
Devindra Ratzarwin, Corporate Secretary
corsec@ptadaro.com