Adaro Energy Releases 4Q13 Quarterly Activities Report

February 4, 2014, 12:41 pm | Admin

Jakarta, February 4th 2014 – Adaro Energy’s Quarterly Activities Report for the fourth quarter 2013 is released today. We regularly issue the quarterly activities report one month after the end of each quarter. The report focuses on our operations, business development, exploration and other activities

Highlights of the quarter:

  • We achieved our second best quarterly coal production of 13.59 million tonnes (Mt) to reach a record production of 52.27 Mt in 2013, an 11% increase year-over-year (y-o-y), and delivered on our guidance of 50 to 53 Mt of production. (page 4,5)
  • We attained record quarterly sales of 14.36 Mt due to strong demand for our coal. We sold 53.47 Mt of our coal in 2013, a 10% increase y-o-y.
  • We removed 294.86 million bank cubic meters (Mbcm) of overburden in 2013, an 11% decrease y-o-y. We were able to lower our strip ratio without harming our long-term mine plan due to the investment we made in overburden removal during a higher coal price environment.
  • Our mining contracting subsidiary, PT Saptaindra Sejati (SIS), achieved its highest quarter of mining and hauling with 19.7 Mt and the second most in overburden removal with 103.2 Mbcm at PT Adaro Indonesia (AI) mining operations in 2013.
  • Japan Credit Rating Agency, Ltd. (JCR) assigned a BBB- rating on AI, while Fitch and Moody’s affirmed their rating on AI of BB+ and Ba1, respectively.
  • Our focus in 2014 is to maintain reliability of supply to our customers, continue to improve operational efficiencies and preserve our solid balance sheet.

Our guidance for 2014:

  • Production volume                    : 54 to 56 million tonnes (pending government approval)
  • Coal cash cost (ex. royalty)     : US$35 to US$38/tonne
  • Planned Stripping Ratio          : 5.78x
  • EBITDA                                        : US$750 million to US$1 billion
  • Capital Expenditure                  : US$200 million to US$250 million

 

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 & Corporate Secretary
Tel: (6221) 521 1265
Fax: (6221) 5794 4685
Email: cameron.tough@ptadaro.com

Last modified on January 30, 2017, 12:44 pm | 1252