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Energy Minerals

PT Adaro Energy Indonesia Tbk

Company Background

Adaro Energy is Indonesia's second-largest coal miner by production volume and largest by market capitalization. The company owns mines in South Kalimantan Province and produced more than 50 million tons of coal in 2013.

Adaro started commercial production in the early 1990s and was acquired by a group of businessmen in 2005. The group included Edwin Soeryadjaya and Garibaldi Thohir, both of whom are sons of the co-founders of Astra International, one of Indonesia's largest conglomerates. After taking Adaro public in 2008, the group of investors merged most of their share ownerships into a single entity, Adaro Strategic Investments, which currently controls more than 40% of total shares. Soeryadjaya serves as Adaro's president commissioner and Thohir as president director & CEO.

In 2011, Adaro joined a consortium of Japanese companies to build one of the largest coal-fired power plants in Asia. But the $4 billion project has since been delayed due to opposition by land owners and environmental groups.

Business Summary

PT Adaro Energy Indonesia Tbk engages in the integrated coal mining, logistics, and power businesses through its subsidiaries. It operates through the following segments: Coal Mining and Trading, Mining Services, Logistics, and Others. The Coal Mining and Trading segment produces and distributes thermal coal. The Mining Services segment provides exploration, drilling, transportation, logistical support, and overburden mining removal services. The Logistics and Others segment focuses on coal terminal operations, barging and ship loading, channel dredging, and maintenance contracting activities. The company was founded on July 28, 2004 and is headquartered in Jakarta, Indonesia.

Financial Highlights

Dec 2021 IDRUSD
Revenue57,075.41B3,992.71M
Gross Profit25,028.51B1,750.87M
Operating income22,538.37B1,576.67M
Income before tax21,245.77B1,486.25M
Net income13,344.15B933.49M
EBITDA30,192.49B2,112.12M
Diluted EPS418.410.02
Dividends Per Share301.550.02
Total Assets108,132.80B7,586.93M
Total liabilities44,590.67B3,128.62M
Total equity58,959.45B4,136.77M
Operating cash flow20,532.18B1,436.33M
Currency in IDRCurrency in USD

Historical Data

 Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021
Revenue 43,602.33B 51,533.60B 48,889.73B 36,860.89B 57,075.41B
Gross Profit 15,225.72B 17,149.49B 13,440.85B 8,295.49B 25,028.51B
Operating income 12,817.76B 14,467.54B 10,248.41B 5,957.96B 22,538.37B
Income before tax 12,438.79B 11,688.36B 9,320.77B 3,230.65B 21,245.77B
Net income 6,467.38B 5,946.98B 5,715.89B 2,136.56B 13,344.15B
EBITDA 17,536.04B 19,626.25B 16,073.63B 12,556.46B 30,192.49B
Diluted EPS 188.14 172.97 166.30 62.23 418.41
Dividends Per Share 107.64 90.15 109.61 66.27 301.55
Total Assets 92,450.93B 101,533.65B 100,191.46B 89,661.00B 108,132.80B
Total liabilities 36,937.79B 39,660.94B 44,891.97B 34,139.42B 44,590.67B
Total equity 47,055.75B 52,492.73B 51,782.72B 52,154.72B 58,959.45B
Operating cash flow 11,423.76B 12,897.24B 12,971.86B 10,708.95B 20,532.18B
 Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021
Revenue 3,258.33M 3,619.75M 3,457.15M 2,534.84M 3,992.71M
Gross Profit 1,137.79M 1,204.59M 950.44M 570.46M 1,750.87M
Operating income 957.85M 1,016.20M 724.69M 409.71M 1,576.67M
Income before tax 929.53M 820.99M 659.10M 222.16M 1,486.25M
Net income 483.29M 417.71M 404.18M 146.92M 933.49M
EBITDA 1,310.44M 1,378.55M 1,136.61M 863.48M 2,112.12M
Diluted EPS 0.01 0.01 0.01 0.00 0.02
Dividends Per Share 0.00 0.00 0.00 0.00 0.02
Total Assets 6,814.14M 7,060.75M 7,217.10M 6,381.56M 7,586.93M
Total liabilities 2,722.51M 2,758.06M 3,233.71M 2,429.85M 3,128.62M
Total equity 3,468.26M 3,650.39M 3,730.07M 3,712.08M 4,136.77M
Operating cash flow 853.67M 905.90M 917.28M 736.43M 1,436.33M

Valuation Measures

Dec 2021
PER5.37
ROA13.49%
ROE24.01%
Operating margin39.48%
Profit margin23.37%

Key executives

  • President Director: Garibaldi Thohir
  • Chief Financial Officer: Lie Luckman
  • Chief Human Resources, IT Officer & Director: Julius Aslan
  • Head-Information Technology: Eka Suharto
  • Vice President Director & Deputy CEO: Christian Ariano Rachmat

Shareholders

  • PT Adaro Strategic Capital (43.9%)
  • THOHIR GARIBALDI (6.1%)
  • SOERYADJAYA EDWIN (3.2%)
  • PT Adaro Energy Indonesia Tbk (3.1%)
  • RACHMAT THEODORE PERMADI (2.5%)
  • The Vanguard Group, Inc. (1.2%)
  • BlackRock Fund Advisors (1.0%)
  • Dimensional Fund Advisors LP (0.8%)
  • PT Batavia Prosperindo Aset Manajemen (0.4%)
  • BlackRock Advisors (UK) Ltd. (0.2%)

Contact Details

  • Website:http://www.adaro.com
  • Address: Menara Karya, 23rd Floor, Jalan H. R. Rasuna Said, Block X-5, Jakarta, 12950, Indonesia
  • Phone: +62.21.2553.3000

Related Companies

  • PT Adaro Minerals Indonesia
  • Adaro Capital Ltd.
  • PT Adaro Jasabara Indonesia
  • PT Balangan Anugerah Semesta
  • Adaro Australia Pty Ltd.
  • PT Trimitra Tirta Sarana
  • PT Tanjung Power Indonesia
  • PT Pari Coal
  • PT Ratah Coal
  • PT Juloi Coal
  • PT Sumber Barito Coal
  • PT Kalteng Coal
  • PT Maruwai Coal
  • PT Paramitha Cipta Sarana
  • PT Laskar Semesta Alam
  • PT Semesta Centramas
  • PT Adaro Eksplorasi Indonesia
  • PT Adaro Logistics
  • Orchard Maritime Logistics Pte Ltd.
  • PT Viscaya Investments
  • PT Biscayne Investments
  • PT Adaro Persada Mandiri
  • PT Adaro Mining Technologies
  • PT Adaro Power
  • Sinarmas Lda. Maritime Pte Ltd.
  • Vindoor Investments (Mauritius) Ltd.
  • PT Dianlia Setyamukti
  • PT Saptaindra Sejati
  • PT Alam Tri Abadi

Competitors

  • Banpu Public Co. Ltd.
  • Peabody Energy Corporation
Last Updated on 1 Dec, 2022

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