JAKARTA - PT Adaro Energy Tbk (ADRO) generated US$ 3.45 billion in revenue in 2019, 5% lower than the figure recorded in 2018 (US$ 3.62 billion). This caused the company's gross profit to fell from US$ 892 million in 2018 to US$ 965 million.
As quoted from the company's disclosure published on Tuesday (3/3), the decline was mainly caused by the global economic downturn that causes coal prices to fell by an average of 13%. Despite this, ADRO managed to increase its production by approximately 7% to 58.03 million tons, exceeding the set target of 56 million tons.
In 2019, Adaro's operational EBITDA was recorded at US$ 1.20 billion, 14% lower than the figure recorded in 2018 of US$ 1.40 million. (LK/AR)