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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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Friday, 20 September 19
INDIA TO INVITE BIDS FOR COMMERCIAL COAL MINING IN DECEMBER - MINISTER FOR COAL
India aims to begin the process of holding the first round of commercial coal mining auctions December end, Minister for Coal, Mines and Parliament ...
Friday, 20 September 19
INDIA: ECONOMIC SLOWDOWN IMPACTS COAL IMPORT CARGO IN H1 FY20 - PTI
Economic slowdown has impacted coal import cargo in the first half of this fiscal, as overall cargo growth at major ports registered a marginal gro ...
Wednesday, 18 September 19
SHIPPING MARKET INSIGHT - INTERMODAL
During the first week of September, I had the privilege of attending the Donsö Shipping Meet 2019, in Donsö, a small island of around 1,& ...
Tuesday, 17 September 19
PANAMA SHIP REGISTRY MODERNIZES SHIP REGISTRATION
The Panama Ship Registry has announced it will integrate in a single platform “Electronic Ship Registration System (ESRS)” the present ...
Tuesday, 17 September 19
THE DRY BULK FREIGHT MARKET IS ALREADY ON A DOWNWARD CORRECTION - ALLIED
Here we are again, just a breath before the final quarter of the year. Under typical circumstances and on the basis of what we have seen during the ...
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- Xindia Steels Limited - India
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- Merrill Lynch Commodities Europe
- Energy Link Ltd, New Zealand
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- Bhushan Steel Limited - India
- Eastern Energy - Thailand
- IHS Mccloskey Coal Group - USA
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- Energy Development Corp, Philippines
- Singapore Mercantile Exchange
- Mercuria Energy - Indonesia
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- Bukit Baiduri Energy - Indonesia
- Toyota Tsusho Corporation, Japan
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- Grasim Industreis Ltd - India
- IEA Clean Coal Centre - UK
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- Global Coal Blending Company Limited - Australia
- Global Green Power PLC Corporation, Philippines
- Australian Coal Association
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- Sical Logistics Limited - India
- Indonesian Coal Mining Association
- The Treasury - Australian Government
- Pipit Mutiara Jaya. PT, Indonesia
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- Price Waterhouse Coopers - Russia
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- Indian Energy Exchange, India
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- European Bulk Services B.V. - Netherlands
- Minerals Council of Australia
- PowerSource Philippines DevCo
- Samtan Co., Ltd - South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Central Java Power - Indonesia
- TeaM Sual Corporation - Philippines
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- Straits Asia Resources Limited - Singapore
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- Australian Commodity Traders Exchange
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- Trasteel International SA, Italy
- Alfred C Toepfer International GmbH - Germany
- Thiess Contractors Indonesia
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- India Bulls Power Limited - India
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- Electricity Authority, New Zealand
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- ASAPP Information Group - India
- Electricity Generating Authority of Thailand
- Renaissance Capital - South Africa
- International Coal Ventures Pvt Ltd - India
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- Tamil Nadu electricity Board
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- Indogreen Group - Indonesia
- Bukit Makmur.PT - Indonesia
- Binh Thuan Hamico - Vietnam
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- Bhoruka Overseas - Indonesia
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- Siam City Cement - Thailand
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- AsiaOL BioFuels Corp., Philippines
- White Energy Company Limited
- Medco Energi Mining Internasional
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