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Friday, 22 November 19
FORTY PERCENT OF ADARO'S COAL SALES VOLUME IN 9M19 GOES TO THE SOUTHEAST ASIA REGION
 PT Adaro Energy Tbk released its consolidated financial statements yesterday, for the nine month period, ending September 30, 2019.
President Director and Chief Executive Officer, Mr. Garibaldi Thohir, said “We deliver solid financial results on the back of healthy volume growth year-on-year. Demand for our coal remains solid, yet global coal prices continued to be under pressure due to macroeconomic and industry headwinds. In the midst of this challenging time, we continue to focus on operational excellence and efficiency. We remain positive on the long-term coal market fundamentals and continue to execute our strategy for business sustainability. Our recent bond issuance will further strengthen our financial position and capital structure to weather the short-term market volatility.”
Adaro recorded an operational EBITDA of US$976 million and maintained solid operational EBITDA margin at 37%. Adaro says, the company is in line to achieve the company's 2019 operational EBITDA guidance of US$1-US$1.2 billion. The company's core earnings remained at US$513 million and liquidity is at US$1,267 million, with cash balance of US$1,008 million. Adaro's balance sheet stood at healthy level with Net debt to equity and net debt to last 12 months operational EBITDA of 0.06x and 0.22x, respectively.
Adaro's revenue according to the report, reached US$2,654 million in 9M19, relatively flat year-over-year (y-o-y). The company also recorded 14% increase in sales volume to 44.66 Mt y-o-y, however Adaro's average selling price (ASP) was 13% lower y-o-y as coal prices declined. In 9M19, Adaro mined 44.13 Mt of coal, a 13% increase y-o-y.
"Solid demand for our coal during the period and strong operations performance supported the improvement. We are on track to achieve our 2019 production guidance of 54-56 Mt", Adaro says.
The dry weather in 3Q19 contributed to the AE's strong operational achievement. According to report, the AE’s coal production in 9M19 of 44.13 Mt was 13% higher compared to 9M18, while our sales volume increased 14% y-o-y to 44.66 Mt in 9M19. AE’s coal production in 3Q19 reached 15.66 Mt, 5% higher than 3Q18, which marked a new record for quarterly production.
The company's sales of coal in 3Q19 increased 3% compared to 3Q18 to 15.89 Mt. Adaro says, the Southeast Asia region continued to be their main sales destination and accounted for 40% of AE’s sales volume in 9M19. Adaro also says, they had strong buying interest from India in 3Q19, as a result of high power generation demand in the country.
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Saturday, 11 January 20
BALTIC BRIEFING TANKER REPORT - WEEK 2
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Friday, 10 January 20
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Thursday, 09 January 20
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Thursday, 09 January 20
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- Manunggal Multi Energi - Indonesia
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- Chamber of Mines of South Africa
- SMG Consultants - Indonesia
- Commonwealth Bank - Australia
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- Australian Commodity Traders Exchange
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- Sakthi Sugars Limited - India
- Medco Energi Mining Internasional
- Asmin Koalindo Tuhup - Indonesia
- CNBM International Corporation - China
- Jindal Steel & Power Ltd - India
- Parry Sugars Refinery, India
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- Savvy Resources Ltd - HongKong
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Pendopo Energi Batubara - Indonesia
- Energy Link Ltd, New Zealand
- Bangladesh Power Developement Board
- Ministry of Finance - Indonesia
- Agrawal Coal Company - India
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- Star Paper Mills Limited - India
- Altura Mining Limited, Indonesia
- Holcim Trading Pte Ltd - Singapore
- Africa Commodities Group - South Africa
- Vedanta Resources Plc - India
- Indian Energy Exchange, India
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- Sojitz Corporation - Japan
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- Karaikal Port Pvt Ltd - India
- The Treasury - Australian Government
- International Coal Ventures Pvt Ltd - India
- The State Trading Corporation of India Ltd
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- Cement Manufacturers Association - India
- Meralco Power Generation, Philippines
- Mintek Dendrill Indonesia
- Gujarat Electricity Regulatory Commission - India
- GN Power Mariveles Coal Plant, Philippines
- Toyota Tsusho Corporation, Japan
- Eastern Coal Council - USA
- Australian Coal Association
- Ministry of Transport, Egypt
- Madhucon Powers Ltd - India
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- Metalloyd Limited - United Kingdom
- Renaissance Capital - South Africa
- Thiess Contractors Indonesia
- Kartika Selabumi Mining - Indonesia
- Sree Jayajothi Cements Limited - India
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- SN Aboitiz Power Inc, Philippines
- Global Coal Blending Company Limited - Australia
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- Global Business Power Corporation, Philippines
- Mjunction Services Limited - India
- Straits Asia Resources Limited - Singapore
- Sinarmas Energy and Mining - Indonesia
- Essar Steel Hazira Ltd - India
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- PowerSource Philippines DevCo
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- Tamil Nadu electricity Board
- CIMB Investment Bank - Malaysia
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- PNOC Exploration Corporation - Philippines
- Tata Chemicals Ltd - India
- South Luzon Thermal Energy Corporation
- Goldman Sachs - Singapore
- Kaltim Prima Coal - Indonesia
- LBH Netherlands Bv - Netherlands
- Rashtriya Ispat Nigam Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Coastal Gujarat Power Limited - India
- Rio Tinto Coal - Australia
- Kohat Cement Company Ltd. - Pakistan
- Bukit Makmur.PT - Indonesia
- Orica Australia Pty. Ltd.
- Videocon Industries ltd - India
- Deloitte Consulting - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
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- Kapuas Tunggal Persada - Indonesia
- Leighton Contractors Pty Ltd - Australia
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- ICICI Bank Limited - India
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- Offshore Bulk Terminal Pte Ltd, Singapore
- Indonesian Coal Mining Association
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- Indogreen Group - Indonesia
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- Bank of Tokyo Mitsubishi UFJ Ltd
- Kalimantan Lumbung Energi - Indonesia
- Kumho Petrochemical, South Korea
- Minerals Council of Australia
- Aboitiz Power Corporation - Philippines
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- Ceylon Electricity Board - Sri Lanka
- San Jose City I Power Corp, Philippines
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- Coal and Oil Company - UAE
- Indo Tambangraya Megah - Indonesia
- White Energy Company Limited
- Directorate Of Revenue Intelligence - India
- Bulk Trading Sa - Switzerland
- Karbindo Abesyapradhi - Indoneisa
- Wood Mackenzie - Singapore
- Latin American Coal - Colombia
- Bahari Cakrawala Sebuku - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
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- Semirara Mining and Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
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- Indian Oil Corporation Limited
- Singapore Mercantile Exchange
- Merrill Lynch Commodities Europe
- Alfred C Toepfer International GmbH - Germany
- Simpson Spence & Young - Indonesia
- Thai Mozambique Logistica
- Bukit Asam (Persero) Tbk - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Riau Bara Harum - Indonesia
- Kobexindo Tractors - Indoneisa
- Edison Trading Spa - Italy
- ASAPP Information Group - India
- TNB Fuel Sdn Bhd - Malaysia
- Electricity Authority, New Zealand
- Bukit Baiduri Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Standard Chartered Bank - UAE
- Uttam Galva Steels Limited - India
- Meenaskhi Energy Private Limited - India
- Parliament of New Zealand
- PetroVietnam Power Coal Import and Supply Company
- Petron Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Indika Energy - Indonesia
- Borneo Indobara - Indonesia
- Interocean Group of Companies - India
- Posco Energy - South Korea
- SMC Global Power, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Wilmar Investment Holdings
- New Zealand Coal & Carbon
- Carbofer General Trading SA - India
- Georgia Ports Authority, United States
- Semirara Mining Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Binh Thuan Hamico - Vietnam
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Port Waratah Coal Services - Australia
- GMR Energy Limited - India
- Aditya Birla Group - India
- Krishnapatnam Port Company Ltd. - India
- European Bulk Services B.V. - Netherlands
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- Attock Cement Pakistan Limited
- Bhoruka Overseas - Indonesia
- Sarangani Energy Corporation, Philippines
- Romanian Commodities Exchange
- Antam Resourcindo - Indonesia
- Larsen & Toubro Limited - India
- Oldendorff Carriers - Singapore
- Independent Power Producers Association of India
- Bhatia International Limited - India
- Eastern Energy - Thailand
- Central Java Power - Indonesia
- Price Waterhouse Coopers - Russia
- Anglo American - United Kingdom
- Planning Commission, India
- Baramulti Group, Indonesia
- McConnell Dowell - Australia
- Kideco Jaya Agung - Indonesia
- VISA Power Limited - India
- Trasteel International SA, Italy
- Cigading International Bulk Terminal - Indonesia
- Siam City Cement PLC, Thailand
- Mercuria Energy - Indonesia
- Ministry of Mines - Canada
- Heidelberg Cement - Germany
- GVK Power & Infra Limited - India
- MS Steel International - UAE
- Samtan Co., Ltd - South Korea
- PTC India Limited - India
- Banpu Public Company Limited - Thailand
- Intertek Mineral Services - Indonesia
- Economic Council, Georgia
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