Adaro?s 2009 net profit soars, coal output reached 40.6 Mt
Wednesday, March 31 2010 - 03:07 AM WIB
The significant increase is attributed to higher average selling prices as well as increased production, the company said, adding that revenue increased by 49 percent to Rp 26.9 trillion, the Company said.
Adaro?s 2009 full-year production reached 40.6 million metric tons (Mt). Supported by favorable weather, production achieved record highs of 10.5Mt in the third quarter of 2009 and 12.1Mt in the fourth quarter of 2009. Combined with an additional trading volume of 0.3Mt through subsidiary Coaltrade and sales from inventory, Adaro Energy?s sales increased 12 percent to 24Mt in the second half of 2009, pushing the 2009 total sales slightly higher to 41.4Mt.
?Combined with the higher average selling price realization, due to the high coal price environment of 2008 when most prices for 2009 were set, the positive sales volume growth in 2009 resulted in revenue increasing 49 percent to Rp 26.9 trillion,? it said.
In 2010, the company will focus on increasing production and marketing its new coal product Envirocoal-Wara, executing the current development projects to further improve the efficiency of the coal supply chain and seeking acquisition and investment opportunities in worldclass deposits of Indonesian coal.
From the mining services division, Saptaindra Sejati (SIS)?s revenue, including revenue from PT Adaro Indonesia, a coal unit of Adaro Energy, increased 48 percent to Rp 2.7 trillion in 2009.
SIS delivered an exceptional operating performance in 2009 with the total overburden removal increasing 34 percent to 115.0 Mbcm (including overburden from Adaro Indonesia), in line with the plan. SIS?s coal extraction increased 44 percent to 16.4 Mt which was also in line with the plan despite the lower production volume during the first half of the year. (denny)