Adaro Records Highest Revenue and Net Profit in 14 Years

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Reza Pahlevi 30/08/2022 10:50 WIB

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In the first six months of 2022, Adaro Energy Indonesia recorded revenue of US$3.54 billion with a net profit of US$1.35 billion.

Adaro Energy Indonesia Revenue and Net Profit (Semester I, 2021 vs 2022)

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Adaro Records Highest Revenue and Net Profit in 14 Years

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Adaro Energy Indonesia Revenue and Net Profit (Semester I, 2021 vs 2022)

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Coal mining issuer PT Adaro Energy Indonesia Tbk, with stock code ADRO, recorded outstanding performance in the first half of 2022. In just six months, the company achieved its highest revenue and net profit since going public in 2008.

The company recorded revenue of US$3.54 billion in the first half of 2022. This represents a 127% year-on-year (YoY) increase from US$1.56 billion in the same period last year.

High coal prices drove the significant revenue increase. Revenue from coal mining and trading alone reached US$3.46 billion, a 132% YoY increase from the same period last year.

Adaro also recorded a net profit of US$1.21 billion in the first half of 2022. This net profit soared by 613% YoY from the same period last year.

Adaro CEO Garibaldi Thohir stated that this substantial revenue will aid their transition to renewable energy. Adaro is in the process of creating the world's largest green industrial estate and diversifying away from thermal coal.

Editor : Annissa Mutia

"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."