ADRO — 1H24’ coal sales grew 7% yoy despite limited export sales

ADRO — 1H24’ coal sales grew 7% yoy despite limited export sales Adaro Energy Indonesia (ADRO) faced challenges due to stagnant coal prices and limited export sales in 1H24. However, ADRO reported a solid performance in 1H24, with coal sales volume growing 7% yoy to 34.9 mn tonnes. This includes thermal coal sales of 32.3 mn tonnes (+5% yoy) and coking coal sales of 2.6 mn tonnes (+43% yoy). Despite a 2% qoq decline in production, ADRO's sales volume grew by 12% qoq, reaching 18.5 mn tonnes. Moving forward, ADRO aims to continue managing its costs and maintaining sales momentum amidst challenging conditions. (Source : Kontan)