PT Adaro Energy Tbk announced consolidated unaudited earnings result for the six months ended June 30, 2014. For the period, the company reported revenue of $1,693,140,000 against $1,579,372,000 a year ago, increased on the back of higher sales volume of 13% while its average selling price (ASP) declined 5%. Operational EBITDA which excluded non-operational accounting items increased 31% to $513 million compared to for the same period a year ago. Operating income was $361,094,000 against $397,958,000 a year ago. Profit before income tax was $305,615,000 against $341,861,000 a year ago. Profit for the period was $171,769,000 against $248,721,000 a year ago, mainly due to the inclusion of a gain from the Balangan acquisition in 2013. Earnings per diluted share were $0.00489 against $0.00721 a year ago. Net cash flows provided from operating activities was $364,339,000 against $360,858,000 a year ago. Purchase of fixed assets was $35,309,000 against $78,508,000 a year ago. Payment for addition of mining properties was $31,879,000 against $26,691,000 a year ago. Payment for addition of exploration and evaluation assets was $57,000 against $68,000 a year ago. Net capital expenditure decreased by 31% to $67 million compared to for the same period a year ago. Net debt was $1,310 million. Core earnings were $210 million against $132 million a year ago. The company posted EBITDA of $513 million up 31% compared to a year ago driven by a lower strip ratio, cost reduction initiatives and robust sales volume.

The company announced that it is on track to achieve its capital expenditure guidance of $200 million to $250 million for the year 2014 and EBITDA guidance for 2014 of $750 million to $1 billion.

The company announced production volume of 27.8 Mt against 24.9 Mt for the same period a year ago, due to solid demand for its coal.