Adaro reports positive results
Published by Jonathan Rowland,
Indonesian coal company, Adaro Energy, has reported a core earnings of US$281 million for the first nine months of 2016, according to the company’s latest quarterly report, a year-on-year rise of 23%.
The rise in core earnings comes despite a 16% year-on-year fall in net revenue over the period as cost efficiency initiatives at the company resulted in a 22% fall in the cost of revenue.
Coal production was level with the first nine months of 2015 at 39.33 million t and remains on track to achieve 2016 production guidance of 52 – 54 million t. 3Q16 production was 13.47 million t – a 2% rise on the previous quarter despite a higher than average number of rain days and higher rainfall in July and September.
The company sold 40.45 million t over the same period, 2% down on the previous quarter and 9% down year on year.
Read the article online at: https://www.worldcoal.com/coal/02112016/adaro-reports-positive-results/
You might also like
Cornwall Insight: VNI West Project could delay the retirement of coal generators
Analysis conducted by Cornwall Insight Australia has revealed that certain coal plants in New South Wales may benefit from delaying their retirement.