REPUBLIKA.CO.ID, JAKARTA -- PT Adaro Energy, Indonesia's second largest coal producer recorded revenue of 3.28 billion USD, decreased 12 percent compared to previous year due to low average selling price. Company's net profit was recorded 229 million USD.
President Director of Adaro Energy, Garibaldi Thohir said that the effects of macro problem could be avoided with solid performance of its core business.
"Coal price in 2013 was under pressure due to the excess of coal supply in market and lower domestic coal price in China," Thohir said on Tuesday as reported by Nidia Zuraya.
Company continues to work with contractors to improve business process and productivity of coal supply chain. Thohir added that in the middle of difficult macro condition in 2013, company's operational activities run well. Adaro recorded the highest production of 52.3 million tonnes. EBITDA margin was 25 percent, the best among Indonesian thermal coal companies.
Adaro has successfully reached lower coal cash in range of 35-38 USD per ton, which decreased 11 percent to support cost reduction initiatives and fuel price more than its projection.
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