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PT Adaro Energy Indonesia Tbk recorded revenue of US$1.22 billion in Q1 2022. This represents a 77% increase from US$691.97 million in Q1 2021.
This revenue increase resulted in a net profit of US$400.07 million. Net profit soared by 456% compared to US$71.75 million in Q1 2021.
The significantly higher coal price was the main driver of this improved performance. This is evident in the increased revenue despite a decrease in coal sales volume.
Adaro sold 12.2 million tons of coal in Q1 2022, a 3% decrease from the same period last year. Production also fell by 6% to 12.15 million tons.
Adaro recently announced a dividend payout of US$650 million for the 2021 fiscal year. This is Adaro's largest dividend payout since its initial public offering (IPO) in 2008.
"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."
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