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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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- Dr Ramakrishna Prasad Power Pvt Ltd - India
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- Samtan Co., Ltd - South Korea
- Simpson Spence & Young - Indonesia
- Intertek Mineral Services - Indonesia
- GMR Energy Limited - India
- Renaissance Capital - South Africa
- Maharashtra Electricity Regulatory Commission - India
- Indo Tambangraya Megah - Indonesia
- Interocean Group of Companies - India
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- Meenaskhi Energy Private Limited - India
- Bhoruka Overseas - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- South Luzon Thermal Energy Corporation
- Global Business Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- The University of Queensland
- Commonwealth Bank - Australia
- Central Electricity Authority - India
- Bukit Makmur.PT - Indonesia
- Manunggal Multi Energi - Indonesia
- Georgia Ports Authority, United States
- Sojitz Corporation - Japan
- Bank of Tokyo Mitsubishi UFJ Ltd
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- TNB Fuel Sdn Bhd - Malaysia
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- Australian Coal Association
- Gujarat Mineral Development Corp Ltd - India
- Holcim Trading Pte Ltd - Singapore
- IEA Clean Coal Centre - UK
- IHS Mccloskey Coal Group - USA
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- Eastern Coal Council - USA
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- Alfred C Toepfer International GmbH - Germany
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- Directorate General of MIneral and Coal - Indonesia
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- Jindal Steel & Power Ltd - India
- Borneo Indobara - Indonesia
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- Deloitte Consulting - India
- Coal and Oil Company - UAE
- San Jose City I Power Corp, Philippines
- LBH Netherlands Bv - Netherlands
- Altura Mining Limited, Indonesia
- Heidelberg Cement - Germany
- Kalimantan Lumbung Energi - Indonesia
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- Straits Asia Resources Limited - Singapore
- New Zealand Coal & Carbon
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- Coastal Gujarat Power Limited - India
- Global Coal Blending Company Limited - Australia
- Xindia Steels Limited - India
- Edison Trading Spa - Italy
- Globalindo Alam Lestari - Indonesia
- Kohat Cement Company Ltd. - Pakistan
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- Binh Thuan Hamico - Vietnam
- Lanco Infratech Ltd - India
- Minerals Council of Australia
- Economic Council, Georgia
- McConnell Dowell - Australia
- Rashtriya Ispat Nigam Limited - India
- Ministry of Finance - Indonesia
- GN Power Mariveles Coal Plant, Philippines
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- Mercuria Energy - Indonesia
- Wood Mackenzie - Singapore
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- Banpu Public Company Limited - Thailand
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- Larsen & Toubro Limited - India
- Iligan Light & Power Inc, Philippines
- Cement Manufacturers Association - India
- Chamber of Mines of South Africa
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- Mercator Lines Limited - India
- Electricity Generating Authority of Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Barasentosa Lestari - Indonesia
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- Ministry of Transport, Egypt
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- PowerSource Philippines DevCo
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- European Bulk Services B.V. - Netherlands
- Krishnapatnam Port Company Ltd. - India
- Ceylon Electricity Board - Sri Lanka
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- Jaiprakash Power Ventures ltd
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- Pipit Mutiara Jaya. PT, Indonesia
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- Meralco Power Generation, Philippines
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- Merrill Lynch Commodities Europe
- Power Finance Corporation Ltd., India
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- International Coal Ventures Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Goldman Sachs - Singapore
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- Medco Energi Mining Internasional
- Sarangani Energy Corporation, Philippines
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- Semirara Mining and Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Vedanta Resources Plc - India
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- India Bulls Power Limited - India
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