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Wednesday, 12 March 14
ADARO ENERGY IMPROVES EFFICIENCY AND GENERATED STRONG EBITDA IN 2013
 COALspot.com: PT Adaro Energy Tbk, Indonesia's single largest coal miner posted revenue of US$ 3.28 billion and cost of revenue of US$ 2.54 billion for the year 2013.
According to the note posted on the company's website, the company has achieved their FY13 EBITDA guidance of US$750 million to US$900 million, recorded EBITDA of US$822 million, a decline of 25%, and EBITDA margin of 25%.
"Our FY13 Operational EBITDA, which excludes non-operational accounting items, declined by 23% to US$860 million, reflecting the resiliency of our business model and the earning power of the firm" the company said in its report.
The company has also beats company's FY13 coal cash cost (excluding royalty) target of US$35 to US$38 per tonne for FY13 posting coal cash cost of US$34.86 per tonne, down 11% due to cost reduction initiatives and lower than expected fuel prices. For the twelve months ended December 31, 2013, Adaro booked a 12% lower revenue y-o-y of US$3,285 million. The decrease was attributed to lower average selling price (ASP), which was 19% lower y-o-y.
The company's net income for FY13 decreased 40% to US$229 million mainly driven by lower revenue from softer average selling price of coal during 2013, the company claimed.
"We achieved record annual production and delivered on the higher end of our guidance of 50 Mt to 53 Mt, growing by 11% y-o-y to 52.3 Mt from 47.2 Mt. Our 4Q13 production of 13.59 Mt was our second highest quarterly production" said Adaro.
The company further said the capital expenditure in 2013 decreased 66% to US$165 million in-line with the company's target of US$150 million to US$200 million. We achieved record annual production without spending for heavy equipment.
According to company, on the back of strong cash flow from operating activities and reduced capital expenditure, company's FY13 free cash flow increased by 141% to US$568 million.
"Our liquidity remained solid with access to cash of approximately US$1.1 billion, allowing us to weather the current cyclical downturn and continue to execute on our business model", company said.
Garibaldi Thohir, the president director and CEO of Adaro Energy said, we delivered on our 2013 targets, despite macro headwinds. Our operations are running well and we had a record year of production with 52.3 Million MT.
According to Garibaldi Thohir, we believe the fundamentals for the coal industry remain strong supported by increasing demand for energy. ASEAN countries together with China and India will play a major role in energy demand due to large population base, robust economic growth and current low levels of electrification. He believes, Indonesian coal will remain competitive due to its low cost of production and close proximity to major export destinations.
According to Adaro, coal prices in 2013 were under pressure mainly due to an oversupply in the coal market and softer domestic prices in China.
However, for Adaro, the effects of such macro challenges were offset by the strong performance of the company's core business. CEO of Adaro further said, we continue to work together with our contractors, improve the business process and productivity along the coal supply chain, further instill a culture of cost discipline throughout the company, and provide reliable coal supply to our customers.
As for Adaro, we will keep doing what we do best: maintain reliability of coal supply to our customers, continue to improve operational efficiency and strengthen our capital structure. It all boils down to creating maximum value from Indonesian coal and giving our maximum contribution to national development, Garibaldi Thohir, the president director and CEO Adaro Energy concluded, in his note.
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Monday, 03 February 14
API 8 CFR SOUTH CHINA COAL SWAP CONTRACTS FALL
COALspot.com: API 8 CFR South China Coal swaps for average Q1 14 delivery lost 4.71 percent month on month and closed at US$ 78.87 per mt as on Frid ...
Monday, 03 February 14
COAL FREIGHT RATES REMAIN UNDER PRESSURE
COALspot.com: The BDI is fell 50 pct over last one month which seems to be one of the lowest fall in last few years.
The BDI was down by 11 ...
Friday, 31 January 14
U.S. COAL PRODUCTION TOTALED APPROXIMATELY 19.2 MMST W-O-W
COALspot.com – United States the world’s second largest coal producer, produced approximately 19.2 million short tons (mmst) of coal in ...
Friday, 31 January 14
DRY BULK MARKET STILL ON A FALL, EXPECTED TO WORSEN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market is definitely in the doldrums since the start of the year, in what could only be described as a "lost" month for indus ...
Thursday, 30 January 14
JPU SETTLEMENT PRICE AS A BENCHMARK WILL DECLINE IN IMPORTANCE BUT REMAIN RELEVANT, SAYS WOOD MACKENZIE
JPU price will remain above spot, trending closer to spot till 2015 then increasing to 2035.
Japanese Power Utilities (JPU) are approaching a cru ...
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- Global Business Power Corporation, Philippines
- Goldman Sachs - Singapore
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- Sindya Power Generating Company Private Ltd
- Directorate Of Revenue Intelligence - India
- TNB Fuel Sdn Bhd - Malaysia
- IHS Mccloskey Coal Group - USA
- PowerSource Philippines DevCo
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- ASAPP Information Group - India
- OPG Power Generation Pvt Ltd - India
- Economic Council, Georgia
- Energy Link Ltd, New Zealand
- Savvy Resources Ltd - HongKong
- Wood Mackenzie - Singapore
- Makarim & Taira - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Pipit Mutiara Jaya. PT, Indonesia
- Miang Besar Coal Terminal - Indonesia
- Aditya Birla Group - India
- Directorate General of MIneral and Coal - Indonesia
- Energy Development Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- Commonwealth Bank - Australia
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- TeaM Sual Corporation - Philippines
- Meenaskhi Energy Private Limited - India
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- Chamber of Mines of South Africa
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- Oldendorff Carriers - Singapore
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- Bulk Trading Sa - Switzerland
- Singapore Mercantile Exchange
- Thiess Contractors Indonesia
- Minerals Council of Australia
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- Samtan Co., Ltd - South Korea
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- Karbindo Abesyapradhi - Indoneisa
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- Africa Commodities Group - South Africa
- Indo Tambangraya Megah - Indonesia
- White Energy Company Limited
- Riau Bara Harum - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
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- LBH Netherlands Bv - Netherlands
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- Planning Commission, India
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- Rio Tinto Coal - Australia
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- Bhoruka Overseas - Indonesia
- Ind-Barath Power Infra Limited - India
- Meralco Power Generation, Philippines
- Heidelberg Cement - Germany
- International Coal Ventures Pvt Ltd - India
- Bangladesh Power Developement Board
- Trasteel International SA, Italy
- Thai Mozambique Logistica
- Alfred C Toepfer International GmbH - Germany
- CIMB Investment Bank - Malaysia
- Gujarat Sidhee Cement - India
- Anglo American - United Kingdom
- India Bulls Power Limited - India
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- Ministry of Finance - Indonesia
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- London Commodity Brokers - England
- Vizag Seaport Private Limited - India
- Sarangani Energy Corporation, Philippines
- Simpson Spence & Young - Indonesia
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- Holcim Trading Pte Ltd - Singapore
- Straits Asia Resources Limited - Singapore
- SMC Global Power, Philippines
- Agrawal Coal Company - India
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- PTC India Limited - India
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- Binh Thuan Hamico - Vietnam
- Essar Steel Hazira Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
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- Indian Oil Corporation Limited
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- Indonesian Coal Mining Association
- Eastern Energy - Thailand
- Attock Cement Pakistan Limited
- Latin American Coal - Colombia
- Billiton Holdings Pty Ltd - Australia
- Standard Chartered Bank - UAE
- Deloitte Consulting - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The Treasury - Australian Government
- Electricity Generating Authority of Thailand
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- Sakthi Sugars Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
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- Indian Energy Exchange, India
- Cement Manufacturers Association - India
- Metalloyd Limited - United Kingdom
- Barasentosa Lestari - Indonesia
- McConnell Dowell - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Electricity Authority, New Zealand
- Borneo Indobara - Indonesia
- Coal and Oil Company - UAE
- CNBM International Corporation - China
- Romanian Commodities Exchange
- Maheswari Brothers Coal Limited - India
- Ministry of Transport, Egypt
- Eastern Coal Council - USA
- Kaltim Prima Coal - Indonesia
- Price Waterhouse Coopers - Russia
- Globalindo Alam Lestari - Indonesia
- Indika Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Independent Power Producers Association of India
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- Tamil Nadu electricity Board
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- The University of Queensland
- Australian Coal Association
- Leighton Contractors Pty Ltd - Australia
- Maharashtra Electricity Regulatory Commission - India
- Global Coal Blending Company Limited - Australia
- Siam City Cement - Thailand
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