Adaro Energy, an Indonesian coal miner, has recorded 4% growth in coal production to 54.04 MnT in CY18 from 51.79 MnT in CY17, as per the statement issued by the company in a filing to the Indonesia Stock Exchange on Monday.
The company’s coal production last year was well within the company original target range of between 54 MnT to 56 MnT, the statement said.
Company’s coal sales volume increased 5% to 54.39 MnT last year from 51.82 MnT in the previous year.
Sales to Southeast Asia, including Indonesia, comprised 40% of total sales volume in 2018. Meanwhile, East Asia made up 30% of sales, followed by India and China at 14% and 11%, respectively.
This was in line with India’s higher demand for coal import in 2018, the statement said.
Others including Spain, the Netherlands, Greece, United States, New Zealand and Pakistan had taken the remaining 5% of the total share in CY18.
Amidst uncertainty in the global coal market, the company sets its coal production target at 54-56 MnT in CY 2019.
The company is also poised to make EBITDA in the range of USD 1-1.2 Billion in CY 2019. While capital expenditure for this year is affixed at between USD 450-600 Million.
The company is yet to announce its full-year financial report, which is expected to come out in the coming weeks.
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