Adaro Energy (ADRO) has posted an increase of 4% year-on-year in coal output to 54.04 MnT in CY18, thanks in part to a strong production of 15.06 MnT in the fourth quarter of 2018, the company said in a filing to the Indonesia Stock Exchange on Monday.
The company said that its coal production was in line with its annual coal production target of between 54 MnT to 56 MnT, it had set early last year.
“Coal sales remained solid at 54.39 MnT, a 5% increase year on year,” the company said in the statement.
In regard to its outlook, the Jakarta-based company said that it maintained its coal production target at between 54 MnT and 56 MnT this year. Its operation EBITDA is estimated at to hit between USD 1-1.2 Billion this year, the company said.
The company also announced that its net profit declined Y-o-Y to USD 410.850 Million in CY18 from USD 465.29 Million in 2017.
It reported an 11% increase in net revenue to USD 3.62 Billion in CY18 from USD 3.26 Billion while cost of revenue increased to USD 2.41 Billion from USD 2.11 Billion in the previous year.
The operational EBITDA rose 7% year-on-year to USD 1.408 Billion from USD 1.315 Billion in the previous year, the statement showed.
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