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Energy Minerals

PT Adaro Energy 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 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 2020 IDRUSD
Revenue36,860.89B2,534.84M
Gross Profit8,295.49B570.46M
Operating income5,957.96B409.71M
Income before tax3,230.65B222.16M
Net income2,136.56B146.92M
EBITDA12,556.46B863.48M
Diluted EPS62.230.00
Dividends Per Share66.270.00
Total Assets89,661.00B6,381.56M
Total liabilities34,139.42B2,429.85M
Total equity52,154.72B3,712.08M
Operating cash flow10,708.95B736.43M
Currency in IDRCurrency in USD

Historical Data

 Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020
Revenue 33,573.40B 43,602.33B 51,533.60B 48,889.73B 36,860.89B
Gross Profit 9,055.03B 15,225.72B 17,149.49B 13,440.85B 8,295.49B
Operating income 7,076.53B 12,817.76B 14,467.54B 10,248.41B 5,957.96B
Income before tax 7,268.93B 12,438.79B 11,688.36B 9,320.77B 3,230.65B
Net income 4,450.59B 6,467.38B 5,946.98B 5,715.89B 2,136.56B
EBITDA 11,653.61B 17,536.04B 19,626.25B 16,073.63B 12,556.46B
Diluted EPS 129.54 188.14 172.97 166.30 62.23
Dividends Per Share 42.40 107.64 90.15 109.61 66.27
Total Assets 87,871.10B 92,450.93B 101,533.65B 100,191.46B 89,661.00B
Total liabilities 36,865.81B 36,937.79B 39,660.94B 44,891.97B 34,139.42B
Total equity 42,390.65B 47,055.75B 52,492.73B 51,782.72B 52,154.72B
Operating cash flow 8,984.73B 11,423.76B 12,897.24B 12,971.86B 10,708.95B
 Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020
Revenue 2,524.23M 3,258.33M 3,619.75M 3,457.15M 2,534.84M
Gross Profit 680.80M 1,137.79M 1,204.59M 950.44M 570.46M
Operating income 532.05M 957.85M 1,016.20M 724.69M 409.71M
Income before tax 546.52M 929.53M 820.99M 659.10M 222.16M
Net income 334.62M 483.29M 417.71M 404.18M 146.92M
EBITDA 876.18M 1,310.44M 1,378.55M 1,136.61M 863.48M
Diluted EPS 0.00 0.01 0.01 0.01 0.00
Dividends Per Share 0.00 0.00 0.00 0.00 0.00
Total Assets 6,522.25M 6,814.14M 7,060.75M 7,217.10M 6,381.56M
Total liabilities 2,736.37M 2,722.51M 2,758.06M 3,233.71M 2,429.85M
Total equity 3,146.45M 3,468.26M 3,650.39M 3,730.07M 3,712.08M
Operating cash flow 675.52M 853.67M 905.90M 917.28M 736.43M

Valuation Measures

Dec 2020
PER21.42
ROA2.25%
ROE4.11%
Operating margin16.16%
Profit margin5.79%

Key executives

  • President Director & Chief Executive Officer: Garibaldi Thohir
  • Chief Operating Officer & Director: Ah Hoo Chia
  • Chief Financial Officer: Lie Luckman
  • Chief Human Resources, IT Officer & Director: Julius Aslan
  • Vice President Director & Deputy CEO: Christian Ariano Rachmat

Shareholders

  • PT Adaro Strategic Capital (43.9%)
  • THOHIR GARIBALDI (6.1%)
  • SOERYADJAYA EDWIN (3.2%)
  • RACHMAT THEODORE PERMADI (2.5%)
  • BlackRock Fund Advisors (1.3%)
  • The Vanguard Group, Inc. (1.2%)
  • Dimensional Fund Advisors LP (0.8%)
  • BlackRock Advisors (UK) Ltd. (0.5%)
  • SUBIANTO ARINI SARASWATY (0.2%)
  • Northern Trust Investments, Inc.(Investment Management) (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

  • Adaro Capital Ltd.
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  • PT Rehabilitasi Lingkungan Indonesia
  • PT Paramitha Cipta Sarana
  • PT Laskar Semesta Alam
  • PT Adaro Eksplorasi Indonesia
  • PT Adaro Logistics
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  • PT Harapan Bahtera Internusa
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  • Sinarmas Lda. Maritime Pte Ltd.
  • PT Dianlia Setyamukti
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Competitors

  • PT Bukit Asam Tbk
  • PT Harum Energy Tbk
  • China Shenhua Energy Co. Ltd. Class H
  • PT Indo Tambangraya Megah Tbk
  • Vale S.A.
  • Peabody Energy Corporation
  • Banpu Public Co. Ltd.
Last Updated on 21 Sep, 2021

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