JAKARTA (Indonesia Today) – PT Adaro Energy (ADRO) Tbk booked net profit of US$260 million in the first half of 2012, slipped from US$267 million in the corresponding period of 2011.
Adaro Energy actually posted positive sales revenue growth to US$1.93 billion from US$1.77 billion in the first half of 2011. Cost of sales, however, increased to US$1.297 billion. As a result, Adaro Energy posted gross profit of US$633.58 million, grew from US$598.8 million from H1/11.
Higher operating expenses, however, cut profit margin, resulting in flat growth of operating profit at US$551 million in Jan-June 2012.
Adaro said EBITDA grew 4.4% to US$667.5 million in the period, while EBITDA margin was 34.6%. Coal production and sales volume for the first half of 2012 were virtually flat year-on-year at 23 million tons and 23.69 million tons. (Indonesia Today)
Further reading: Revisiting Adaro Energy at Yosefardi.com.