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PT Alamtri Resources
Indonesia Tbk
Public Expose FY24 www.alamtri.com
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Performance Summary
OPERATIONAL FY24 FY23 Change
Production volume (Mt) 6.63 5.11 30%
Sales volume (Mt) 5.62 4.46 26%
OB removal volume(Mbcm) 23.55 18.70 26%
Strip ratio (x) 3.55 3.66 -3%
FINANCIAL ($ millions, unless indicated) FY24 FY23* Change
Revenue 2,079 2,135 -3%
Core Earnings 648 664 -2%
Operational EBITDA 982 1,057 -7%
Total Asset 6,702 10,473 -36%
Total Liabilities 1,331 3,064 -57%
Total Equity 5,371 7,409 -28%
Interest-bearing Debts 548 1,423 -61%
Cash and Cash Equivalents 1,406 3,311 -58%
Net Debts (Cash) (1,486) (1,936) -23%
Capital Expenditure 514 379 36%
Free Cash Flow 366 749 -51%
Earnings per Share (in US$) 0.01855 0.01870 -1%
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*Represented FY23 figures
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Financial Ratios
FY24 FY23* % Change
Gross Profit Margin (%) 42% 41% 1%
Operating Margin (%) 34% 36% -2%
Operational EBITDA Margin (%) 47% 50% -2%
Net Debt (Cash) to Equity (x) (0,28) (0,26) 6%
Net Debt (Cash) to Last 12 Months Operational EBITDA (x) (0.76) (1.83) -58%
Cash from Operations to Capex (x) 1.46 1.81 -19%
*Represented FY23 figures
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AlamTri FY25 Guidance
Sales Volume: Strip Ratio: 3.3x Capital expenditure:
5.6 Mt – 6.1 Mt $475 million to $525 million
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Metallurgical Coal
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ADMR at A Glance
Indonesia’s leading metallurgical coal producer with low-cost, efficient operation supported by an
integrated supply chain network
Five CCoW holders located in Central and East Kalimantan, Indonesia.
Large coal reserves and resources base which supports long-term sustainable growth.
Coal reserves: 173.0 Mt. Coal resources: 975.6 Mt.
Consistent sales volume growth with target of 5.6 to 6.1 Mt in 2025.
Strong demand from blue-chip steel companies with current customers located in Japan,
South Korea, China, Indonesia and other Asian countries.
Offers coal supply diversification for customers in a market dominated by Australia,
Canada and the US.
Close proximity to key markets offers customers with more competitive cost and shorter
transportation time.
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ADMR Operational Summary
Production volume and strip ratio Sales by Destination FY24 Sales Volume (Mt)
30.0 4.0 5.6
3.7
3.6 Malaysia
2% India +26%
25.0 23.6 7%
3.0 4.5
20.0 2.5 18.7 China
Indonesia
2.2 16%
32%
15.0 2.0 3.2
10.0 8.3 South Korea 2.3
6.6 1.0 14%
5.2 5.1
5.0 3.4
2.3
0.0 0.0 Japan
29%
2021 2022 2023 2024
Overburden removal (in million bcm)
2021 2022 2023 2024
Coal production (in million tonnes)
Strip Ratio
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Company Overview
CCoWs Locations Coal Resources and Reserves
Total Coal Total Coal
Compliance
Company / Locality Reserves Resources
Standard
(Mt) (Mt)
LC - Haju
2.0 4.0 JORC
(Metallurgical)
MC - Lampunut
92.2 101.4 JORC
(Metallurgical )
JC - Juloi Northwest
- 629.9 JORC
(Metallurgical)
JC - Bumbun
55.5 174.5 JORC
(Metallurgical)
KC - Luon
17.7 50.9 JORC
(Metallurgical)
SBC - Dahlia Arwana
5.6 15.0 JORC
(Metallurgical)
TOTAL 173.0 975.6
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Supply Chain: from Coal Terminal to Vessel Loading Points
Barge-to-Barge Barge-to-Barge
▪ Barge-to-Barge transfers are
done at Taboneo and North
Kelanis using floating cranes.
Barge-to-Vessel
Barge-to-Vessel (Taboneo)
▪ Safe for loading for a wide
range of vessel sizes
▪ Supported by the floating
office at Permata Barito
Indonesia Bulk Terminal Indonesia Bulk Terminal
▪ Located at Pulau Laut,
Southeastern coast of
South Kalimantan.
▪ Dedicated stockpiles of
640kt
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Seaborne Metallurgical Coal Demand and Supply Outlook
Global Metallurgical Coal Imports Demand (Mt) Global Metallurgical Coal Supply (Mt)
450 450
400 400
350 350
300 300
Million tonnes
Million tonnes
250 250
200 200
150 150
100 100
50 50
0 0
2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035
China India Japan South Korea Europe Others Australia Canada United States Mongolia Russia Mozambique Indonesia Others
Source: McCloskey
Demand growth, particularly from India and Southeast Asia, is expected to support a balanced supply and demand.
• The long-term outlook shows a positive and stable growth in demand, which positions Indonesia for sustained growth in both domestic and international markets.
• Demand:
• China continues to be the main steel producer, although India's steel production capacity is expected to surpass China's starting in 2030.
• India’s implementation of import restrictions on metallurgical coke signals a shift in trade dynamics, with expectations of a significant increase in metallurgical coal imports.
• India remains a key driver of metallurgical coal demand, with major steelmakers—including Tata Steel, JSW, JSPL, and ArcelorMittal Nippon Steel (AMNS)—pursuing ambitious blast
furnace expansions. These developments will further bolster the country’s metallurgical coal consumption, creating opportunities for global exporters, including Indonesia
• Supply:
• Australia continues to be the main supplier in the seaborne market, but supply growth is expected to face limitations, with periodic mine closures impacting availability later in the
decade.
• Russian supply is expected to remain constrained due to logistical challenges and geopolitical sanctions.
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Minerals
Processing
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Aluminium Smelter in Kaltara Industrial Park
Scope of project is up to 1.5 Mt of aluminum production
Additional capacity of up to
500,000 tpa of Green Aluminum.
Additional capacity of up to We plan for this to be powered by
500,000 tpa aluminum. hydro.
Power generation will likely be a
hybrid of coal and renewables.
Production capacity: 500,000 tpa
aluminum. 12
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Progress of Aluminum Smelter
Aluminium smelter:
• In 4Q24, the construction on aluminium smelter area
focused on the foundation and steel structure erection for
anode and electrolysis plant.
Jetty:
• The construction of the raw material berthing area has been
completed in 4Q24.
• The installment of the conveyor belt structure and office
building are still in progress.
Supporting facilities:
• The building foundation and upper structure work for the
permanent dormitory are still in progress.
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Green Energy
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Indonesia’s Largest Hydro Power Plant
• Planned installed capacity of 1,375 MW, with the
potential to generate approximately 9 Terawatt
hours (TWh) per annum.
• Located in North Kalimantan, this power plant will
provide affordable, reliable, and sustainable
energy to support the Kaltara Industrial Park. COD
is estimated in 2030.
• Will use the Concrete Faced Rockfill Dam (CFRD),
designed with a dam crest height of 235m and
crest length of 815m. This hydro power plant will
have one of the world’s tallest dams.
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Integrating the Value Chain for Solar PV and BESS
• Signed MoU to develop the industrialization of
solar panel supply chain in Indonesia, which
include solar photovoltaic and battery energy
storage systems.
• Supporting the government’s plan in development
of domestic solar power industry and
infrastructure.
• This is a consortium made up of PT Adaro Power,
PT Medco Power Indonesia, and PT Energi Baru
TBS.
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Captive Solar PV for Greener Operations
o We have installed 130 kWp PV Rooftop, and another
468 kWp PV Floating solar PV (one of the largest
operational floating PV in Indonesia)
o The project is expected to generate 156,000 kWh/year
and serves a captive market to support the mining
operation of PT Adaro Indonesia
o Environmental impact of this project includes replacing
33,000 liters of diesel per year, and avoiding emission
of 98 ton CO2/year.
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Mining Services
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One of Indonesia’s Largest Mining Services Company
Key part of our supply chain
Ensures operational excellence, enhances productivity, and
manages operational risks.
Stable profitability margin buffer against the volatility in
metallurgical coal price.
Provides services for mining companies under the Adaro
Andalan Group and AlamTri Group.
Units FY24 FY23 Change
Overburden Removal
Mbcm 201.53 223.08 -10%
Volume
PT Saptaindra Sejati
Coal Transport Volume Mt 64.76 60.91 6%
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Sustainability
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Sustainability
Key programs in Corporate Social Responsibility Green Initiatives
Education Economic Health
development Solar PV Biodiesel
Biomass Co- NZE
Firing Statement
Environmental Socio-cultural
enhancement Enrichment
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Solid MSCI ESG Rating
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Thank You
www.alamtri.com
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Names mentioned 7 people and organisations named in the text · linked when the evidence is strong
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PT Adaro Power
p.16
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PT Energi Baru TBS.
p.16
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PT Saptaindra Sejati Coal Transport Volume
p.19
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