Adaro’s Coal Production Raised By 7%

PT Adaro Energy, Tbk has announced a surplus of its coal production target. By the end of 2008, the company has produce 38,482 million tons of coal. It was a 7% surplus of the 38,124 million tons target, estimated by the company that was recently categorized as 45 LQ by the Indonesian Stock Exchange (IDX) authority.

The Indonesian second largest coal producer also accounted 41.1 million tons of sales, a 9% growth from last year record.

Boy Garibaldi Thohir, the president director of PT Adaro Energy, expressed his satisfaction of this achievement last Wednesday, on 4 February 2009. “Despite the problems and challenges that we must cope with, we are pleased with the result of our production and sales in 2008,” he said. According to Thohir, the increasing sales and production record was due to the stable demand of coal.

Specifically in the fourth quarter of 2008, the company has also gain success of producing 9.8 million tons and selling 10.2 million tons of coal. As a matter of fact, earlier in the year, the company had to face problems of bad weathers and low amount of stockpile.

In dealing with the current economic crisis, the company has been very careful in managing their cash flow. Additionally, they were committed in doing research on long-term growth strategy, by sustaining the previously set targets. The company listed as ADRO in the stock exchange is still in a viable financial structure, and tend to get even better.