ADRO – Targets to sell 67 mn tons of coal in 2024

ADRO – Targets to sell 67 mn tons of coal in 2024 Adaro Energy Indonesia (ADRO) targets coal sales of 67 mn tons in 2024; 61-62 mn tons from thermal coal sales and 4.9-5.4 mn tons from metallurgical coal sales by Adaro Minerals Indonesia (ADMR). Note that, ADRO posted revenue of USD6.51 bn (-20% yoy) and net profit of USD1.64 bn (-34.17% yoy) in 2023, which was due to a 26% yoy lower ASP in 2023. ADRO tried to offset the lower ASP with higher production and sales volume. ADRO had a 7% yoy increase in sales volume (65.71 mn tons) in 2023, which exceeded the company' initial target of 62-64 mn tons. (Source : Kontan)