ADRO Scores 52% Higher Net Profits

By Editorial Team 26/08/2019
Summary

Despite the decline in global coal price, PT Adaro Energy Tbk still posted a 52 percent increase in net profit to US$ 296,85 million or Rp 4.15 trillion (US$ 1 = Rp 14,000) year-on-year (YoY) in the first half of 2019, according to the company’s financial statement. Meanwhile, the company's revenue rose 10.24 percent to US$ 1.77 billion or approximately Rp 24.85 trillion.

Adaro Energy CEO Garibaldi Thohir said the growth was driven by the company's strategy of successful cost discipline to maintain healthy margins amid macro challenges and global coal market uncertainty. Additionally, the ADRO stock-coded coal miner’s production rose 18 percent YoY to 28.47 metric tons, while coal sales rose 21 percent YoY to 28.77 metric tons.

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