Adaro Achieved Profit of US$ 1.64 Billion
In 2023 realized sales volume grew 7 percent to 65.71 million tons.
REPUBLIKA.CO.ID, JAKARTA -- PT Adaro Energy Tbk wrapped up a profit of 1.64 billion US dollars in 2023. This profit was derived from revenues of 6.51 billion US dollars.
President Director of Adaro Energy, Garibaldi Thohir, said the company could still post positive earnings and earnings despite the challenges of coal prices and extreme weather in 2023.
“The scale of production volumes and operational efficiency are able to push the company to reach the target,” Garibaldi said in an official statement on Friday (1/3/2024).
Garibaldi explained in 2023 the realization of sales volumes grew 7 percent to 65.71 million tons. These realizations exceeded the target sales volume of 62-64 million tons.
The revenue realization in 2023 is indeed down compared to the achievement in 2022 due to the decrease in the price of coal. The decrease in average selling prices reached 26 percent.
The value of coal exports fell 23.9 percent to 5.282 billion U.S. dollars. So too, with coal sales to the home market down 5.8 per cent.
Garibaldi explained the company is setting a sales volume target of 65 million tons to 67 million tons by 2024.
That target includes 61 million tons to 62 million tons of thermal coal, and 4.9 million tons to 5.4 million tons of metallurgical coal from subsidiaries.
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