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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 2019 IDRUSD
Revenue48,889.73B3,457.15M
Gross Profit13,440.85B950.44M
Operating income10,248.41B724.69M
Income before tax9,320.77B659.10M
Net income5,715.89B404.18M
EBITDA16,073.63B1,136.61M
Diluted EPS166.300.01
Dividends Per Share----
Total Assets100,191.46B7,217.10M
Total liabilities44,891.97B3,233.71M
Total equity51,782.72B3,730.07M
Operating cash flow12,971.86B917.28M
Currency in IDRCurrency in USD

Historical Data

 Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019
Revenue 35,964.57B 33,573.40B 43,602.33B 51,533.60B 48,889.73B
Gross Profit 7,219.71B 9,055.03B 15,225.72B 17,149.49B 13,440.85B
Operating income 5,476.29B 7,076.53B 12,817.76B 14,467.54B 10,248.41B
Income before tax 3,750.86B 7,268.93B 12,438.79B 11,688.36B 9,320.77B
Net income 2,042.27B 4,450.59B 6,467.38B 5,946.98B 5,715.89B
EBITDA 9,948.00B 11,653.61B 17,536.04B 19,626.25B 16,073.63B
Diluted EPS 59.48 129.54 188.14 172.97 166.30
Dividends Per Share 31.93 42.40 107.64 90.15 --
Total Assets 82,139.70B 87,871.10B 92,450.93B 101,533.65B 100,191.46B
Total liabilities 35,918.00B 36,865.81B 36,937.79B 39,660.94B 44,891.97B
Total equity 39,506.26B 42,390.65B 47,055.75B 52,492.73B 51,782.72B
Operating cash flow 6,853.94B 8,984.73B 11,423.76B 12,897.24B 12,971.86B
 Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019
Revenue 2,684.47M 2,524.23M 3,258.33M 3,619.75M 3,457.15M
Gross Profit 538.89M 680.80M 1,137.79M 1,204.59M 950.44M
Operating income 408.76M 532.05M 957.85M 1,016.20M 724.69M
Income before tax 279.97M 546.52M 929.53M 820.99M 659.10M
Net income 152.43M 334.62M 483.29M 417.71M 404.18M
EBITDA 742.54M 876.18M 1,310.44M 1,378.55M 1,136.61M
Diluted EPS 0.00 0.00 0.01 0.01 0.01
Dividends Per Share 0.00 0.00 0.00 0.00 --
Total Assets 5,958.62M 6,522.25M 6,814.14M 7,060.75M 7,217.10M
Total liabilities 2,605.58M 2,736.37M 2,722.51M 2,758.06M 3,233.71M
Total equity 2,865.88M 3,146.45M 3,468.26M 3,650.39M 3,730.07M
Operating cash flow 511.59M 675.52M 853.67M 905.90M 917.28M

Valuation Measures

Dec 2019
PER8.69
ROA5.66%
ROE10.96%
Operating margin20.96%
Profit margin11.69%

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%)
  • Dimensional Fund Advisors LP (1.6%)
  • The Vanguard Group, Inc. (1.4%)
  • BlackRock Fund Advisors (0.9%)
  • PT Schroder Investment Management Indonesia (0.3%)
  • Canada Pension Plan Investment Board (0.2%)
  • SUBIANTO ARINI SARASWATY (0.2%)

Contact Details

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

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Competitors

  • PT Bukit Asam Tbk
  • China Shenhua Energy Co. Ltd. Class H
  • PT Indo Tambangraya Megah Tbk
  • PT Harum Energy Tbk
  • PT Indika Energy Tbk
  • Banpu Public Co. Ltd.
  • Geo Energy Resources Ltd.
  • Vale S.A.
  • Peabody Energy Corporation
Last Updated on 27 Mar, 2020

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