ADRO - FY24 results

ADRO - FY24 results AlamTri’s (ADRO) FY24 metallurgical coal sales rose 26% yoy to 5.62 Mt, but a 16% yoy ASP drop cut revenue 3% yoy to USD2.08 bn. ADMR’s production grew 30% yoy to 6.63 Mt, but weak prices, driven by China’s slowing demand, offset gains. Core earnings hit USD648 mn, with USD982 mn in operational EBITDA (47% margin). Capex jumped 36% yoy to USD514 mn, mainly for equipment, infrastructure, and an aluminum smelter. Following its AADI divestment, ADRO now focuses on ADMR and renewables. For 2025F, it targets 5.6-6.1 Mt in sales, a 3.3x strip ratio, and USD475-525 mn in capex. (Source : Company)