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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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- Rio Tinto Coal - Australia
- Parliament of New Zealand
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- Baramulti Group, Indonesia
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- Orica Mining Services - Indonesia
- Aditya Birla Group - India
- Planning Commission, India
- Ministry of Transport, Egypt
- Banpu Public Company Limited - Thailand
- Xindia Steels Limited - India
- Lanco Infratech Ltd - India
- Interocean Group of Companies - India
- Kohat Cement Company Ltd. - Pakistan
- IEA Clean Coal Centre - UK
- Carbofer General Trading SA - India
- Miang Besar Coal Terminal - Indonesia
- Meenaskhi Energy Private Limited - India
- Metalloyd Limited - United Kingdom
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Marubeni Corporation - India
- Chamber of Mines of South Africa
- Billiton Holdings Pty Ltd - Australia
- Cigading International Bulk Terminal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Bangladesh Power Developement Board
- India Bulls Power Limited - India
- McConnell Dowell - Australia
- Medco Energi Mining Internasional
- International Coal Ventures Pvt Ltd - India
- Indian Oil Corporation Limited
- OPG Power Generation Pvt Ltd - India
- Orica Australia Pty. Ltd.
- GVK Power & Infra Limited - India
- Bulk Trading Sa - Switzerland
- Minerals Council of Australia
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- White Energy Company Limited
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- Jaiprakash Power Ventures ltd
- LBH Netherlands Bv - Netherlands
- Oldendorff Carriers - Singapore
- Energy Development Corp, Philippines
- Price Waterhouse Coopers - Russia
- Indian Energy Exchange, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Australian Coal Association
- New Zealand Coal & Carbon
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- Samtan Co., Ltd - South Korea
- Bukit Makmur.PT - Indonesia
- Sree Jayajothi Cements Limited - India
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- Mercuria Energy - Indonesia
- TeaM Sual Corporation - Philippines
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- Neyveli Lignite Corporation Ltd, - India
- Indogreen Group - Indonesia
- Manunggal Multi Energi - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- ASAPP Information Group - India
- TNB Fuel Sdn Bhd - Malaysia
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- Pendopo Energi Batubara - Indonesia
- Bayan Resources Tbk. - Indonesia
- Georgia Ports Authority, United States
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- Barasentosa Lestari - Indonesia
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- Attock Cement Pakistan Limited
- Ministry of Finance - Indonesia
- Edison Trading Spa - Italy
- Madhucon Powers Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Maheswari Brothers Coal Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Romanian Commodities Exchange
- Port Waratah Coal Services - Australia
- Thiess Contractors Indonesia
- Sical Logistics Limited - India
- Kideco Jaya Agung - Indonesia
- Borneo Indobara - Indonesia
- Merrill Lynch Commodities Europe
- Eastern Energy - Thailand
- Electricity Authority, New Zealand
- Mintek Dendrill Indonesia
- Anglo American - United Kingdom
- Siam City Cement - Thailand
- Independent Power Producers Association of India
- Posco Energy - South Korea
- Bharathi Cement Corporation - India
- Parry Sugars Refinery, India
- Kaltim Prima Coal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Cement Manufacturers Association - India
- Ceylon Electricity Board - Sri Lanka
- Bhoruka Overseas - Indonesia
- Mjunction Services Limited - India
- Rashtriya Ispat Nigam Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Kartika Selabumi Mining - Indonesia
- Deloitte Consulting - India
- Vedanta Resources Plc - India
- Standard Chartered Bank - UAE
- Siam City Cement PLC, Thailand
- Ministry of Mines - Canada
- MS Steel International - UAE
- London Commodity Brokers - England
- Global Business Power Corporation, Philippines
- The Treasury - Australian Government
- Indonesian Coal Mining Association
- AsiaOL BioFuels Corp., Philippines
- Ambuja Cements Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Makarim & Taira - Indonesia
- GMR Energy Limited - India
- Sindya Power Generating Company Private Ltd
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- Bukit Baiduri Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- San Jose City I Power Corp, Philippines
- CNBM International Corporation - China
- Economic Council, Georgia
- Central Java Power - Indonesia
- Uttam Galva Steels Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- IHS Mccloskey Coal Group - USA
- Petron Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Jindal Steel & Power Ltd - India
- Global Coal Blending Company Limited - Australia
- Antam Resourcindo - Indonesia
- Wilmar Investment Holdings
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- Goldman Sachs - Singapore
- Meralco Power Generation, Philippines
- Iligan Light & Power Inc, Philippines
- Videocon Industries ltd - India
- Renaissance Capital - South Africa
- Trasteel International SA, Italy
- Indika Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Gujarat Electricity Regulatory Commission - India
- Star Paper Mills Limited - India
- Savvy Resources Ltd - HongKong
- Kobexindo Tractors - Indoneisa
- Kepco SPC Power Corporation, Philippines
- Sakthi Sugars Limited - India
- Coal and Oil Company - UAE
- Intertek Mineral Services - Indonesia
- SN Aboitiz Power Inc, Philippines
- SMG Consultants - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Wood Mackenzie - Singapore
- Bhatia International Limited - India
- Central Electricity Authority - India
- The University of Queensland
- Semirara Mining Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- Thai Mozambique Logistica
- Directorate Of Revenue Intelligence - India
- Singapore Mercantile Exchange
- South Luzon Thermal Energy Corporation
- Grasim Industreis Ltd - India
- Ind-Barath Power Infra Limited - India
- Binh Thuan Hamico - Vietnam
- VISA Power Limited - India
- Indo Tambangraya Megah - Indonesia
- The State Trading Corporation of India Ltd
- European Bulk Services B.V. - Netherlands
- Dalmia Cement Bharat India
- Bank of Tokyo Mitsubishi UFJ Ltd
- GN Power Mariveles Coal Plant, Philippines
- PNOC Exploration Corporation - Philippines
- Heidelberg Cement - Germany
- Eastern Coal Council - USA
- Australian Commodity Traders Exchange
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- Global Green Power PLC Corporation, Philippines
- SMC Global Power, Philippines
- Asmin Koalindo Tuhup - Indonesia
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- Alfred C Toepfer International GmbH - Germany
- Larsen & Toubro Limited - India
- Latin American Coal - Colombia
- CIMB Investment Bank - Malaysia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Tata Chemicals Ltd - India
- Chettinad Cement Corporation Ltd - India
- Agrawal Coal Company - India
- Mercator Lines Limited - India
- Sojitz Corporation - Japan
- PTC India Limited - India
- Energy Link Ltd, New Zealand
- Straits Asia Resources Limited - Singapore
- Power Finance Corporation Ltd., India
- Aboitiz Power Corporation - Philippines
- Coalindo Energy - Indonesia
- Kumho Petrochemical, South Korea
- Vijayanagar Sugar Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Essar Steel Hazira Ltd - India
- Salva Resources Pvt Ltd - India
- Commonwealth Bank - Australia
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- Formosa Plastics Group - Taiwan
- Riau Bara Harum - Indonesia
- Africa Commodities Group - South Africa
- Krishnapatnam Port Company Ltd. - India
- Bhushan Steel Limited - India
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