PT Adaro Energy Tbk Announces Unaudited Consolidated Earnings and Production Results for the Nine Months Ended September 30, 2014; Provides Capital Expenditure and Production Guidance for 2014
October 29, 2014
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PT Adaro Energy Tbk announced unaudited consolidated earnings and production results for the nine months ended September 30, 2014. For the period, net revenue was $2,507,461,000 against $2,434,856,000 a year ago. Operating income was $471,879,000 against $535,895,000 a year ago. Profit before income tax was $371,663,000 against $448,953,000 a year ago. Net income was $224,943,000 against $315,217,000 a year ago. Cash flows provided from operating activities was $500,448,000 against $516,792,000 a year ago. Purchase of fixed assets was $46,098,000 against $102,946,000 a year ago. Payment for addition of mining properties was $38,190,000 against $29,638,000 a year ago. Payment for addition of exploration and evaluation assets was $70,000. EBITDA was $701 million against $630 million a year ago. Net debt was $1,215 million against $1,690 million a year ago. Capital expenditure was $149 million against $137 million a year ago. Free cash flow was $407 million against $456 million a year ago. Basic earnings per share (EPS) were $0.00689 against $0.00988 a year ago. Net income decreased 29% to $225 million mainly due to the inclusion of a gain from the Balangan acquisition in 2013.
For 2014, the company expects production of 54 Mt to 56 Mt. The company also expects capital expenditure of $200 million to $250 million.
For the nine months, the company's production volume was 41.9 Mt against 38.7 Mt and overburden removal was 241.7 Mbcm against 223.0 Mbcm a year ago.
PT Adaro Energy Indonesia Tbk is engaged in mining, quarrying, mining support services, trading, transportation, warehousing and transportation support services, cargo handling (stevedoring), sea-port service activities, agriculture, construction, repair and installation of machines, power supply, water treatment, and forestry and industry. The Companyâs businesses include mining, services, power, logistics, land, water, capital, and foundation. The Company, through its subsidiary, PT Adaro Indonesia (AI), is involved in coal mining operations and produces its flagship thermal coal product, Envirocoal, a sub-bituminous coal with medium calorific value (CV) and ultra-low pollutant content. Its PT Saptaindra Sejati (SIS), provides a range of services for the coal mining industry, which covers many aspects from contract mining services, civil works, and infrastructure development to land logistics. Its PT Indonesia Bulk Terminal provides services for coal and fuel handling.
PT Adaro Energy Tbk Announces Unaudited Consolidated Earnings and Production Results for the Nine Months Ended September 30, 2014; Provides Capital Expenditure and Production Guidance for 2014