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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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Wednesday, 31 July 19
SHIPPING MARKET INSIGHT - INTERMODAL
It was a fairly busy week in the dry S&P market. Despite the ease of Capesize rates which impacted Panamaxes as well, interest from potential b ...
Sunday, 28 July 19
ULTRAMAX - INDONESIAN COAL CARGOES SAW A 63,000DWT SHIP FIXING DELIVERY FOR A SOUTH CHINA TRIP VIA INDONESIA, REDELIVERY CHINA, AT $11,700 - BALTIC BRIEFING
Capesize
The market was a white knuckled ride this past week as a large downside movement shed value quickly leaving many in bewilderment. The ...
Wednesday, 24 July 19
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX DOWN 0.27 PCT - XINHUA
China Taiyuan coal transaction price index stood at 138.78 points Monday, down 0.27 percent week on week.
The index, released by Chi ...
Wednesday, 24 July 19
SHIPPING MARKET INSIGHT - INTERMODAL
Tonnes of ink has been spent analysing the rebound of the dry bulk market the last weeks with the most representative example being the rising perf ...
Wednesday, 24 July 19
COAL'S DEMISE QUICKENS IN EUROPE AS MARKET SHIFT IDLES PLANTS - BLOOMBERG
Commodity markets are stripping away the case for coal in Europe, moving quicker than government efforts to close the most polluting power plants.
...
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