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20240806_ADRO_Laporan Informasi dan Fakta Material_31692238_lamp1.pdf
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PT ADARO ENERGY INDONESIA TBK (IDX: ADRO) 1H24 ACTIVITIES
REPORT
1H24 OPERATIONAL HIGHLIGHTS
• Production volume of PT Adaro Energy Indonesia Tbk and its subsidiaries (the Adaro
Group) reached 35.74 million tonnes (Mt) in 1H24, corresponding to a 7% increase from
1H23. Sales volume for the period reached 34.94 Mt or 7% higher than 1H23.
• Sales of metallurgical coal through PT Adaro Minerals Indonesia Tbk increased by 43%
to 2.59 Mt in 1H24 as we continue to build market recognition for the Enviromet product.
• Overburden removal volume in 1H24 reached 141.58 million bank cubic meter (Mbcm),
9% higher than in 1H23, leading to a strip ratio 3.96x, 2% higher than in 1H23.
SUMMARY OF 1H24 OPERATIONS – CONSOLIDATED ADRO NUMBERS
2Q24 vs. 2Q24 vs. 1H24 vs.
Units 2Q24 1Q24 2Q23 1H24 1H23
1Q24 2Q23 1H23
Production Volume Mt 17.66 18.07 -2% 17.72 0% 35.74 33.41 7%
AI Mt 12.48 13.21 -6% 13.17 -5% 25.69 24.98 3%
Balangan Coal Companies Mt 2.28 2.16 6% 2.15 6% 4.45 4.05 10%
MIP Mt 1.47 1.14 29% 1.08 37% 2.61 1.84 42%
AMI Mt 1.42 1.56 -9% 1.32 8% 2.98 2.54 17%
Sales Volume Mt 18.46 16.48 12% 16.90 9% 34.94 32.62 7%
Thermal Mt 16.92 15.43 10% 15.93 6% 32.35 30.81 5%
Metallurgical Mt 1.54 1.05 47% 0.97 59% 2.59 1.82 43%
Overburden Removal Mbcm 75.36 66.21 14% 73.37 3% 141.58 129.74 9%
AI Mbcm 57.11 49.50 15% 57.02 0% 106.62 102.00 5%
Balangan Coal Companies Mbcm 9.82 9.66 2% 8.27 19% 19.48 14.53 34%
MIP Mbcm 3.41 1.71 100% 3.84 -11% 5.12 5.66 -10%
AMI Mbcm 5.02 5.34 -6% 4.25 18% 10.36 7.55 37%
Strip Ratio x 4.27 3.66 16% 4.14 3% 3.96 3.88 2%
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Historical Quarterly Production Volume (Mt)
20.0 18.1 17.7
17.4 17.5 17.7 17.3
18.0
15.7 15.9 15.7
16.0 14.7 15.2
13.9 14.4
Production Volume (Mt)
13.8 13.8 13.4 13.6 13.2 13.1
14.0 12.9 12.9
12.1
12.0
10.0
8.0
6.0
4.0
2.0
-
Historical Quarterly Sales Volume (Mt)
20.0 18.5
18.0 16.7 17.2 16.9 16.5 16.6 16.5
15.4 15.9 15.3 15.7
16.0 14.5 14.4
13.4 13.6 13.4
12.6 13.2 13.1 12.7 12.2
Sales Volume (Mt)
14.0 12.7
12.0
10.0
8.0
6.0
4.0
2.0
-
Historical Quarterly Overburden Removal Volume and Strip Ratio
150.0 6.0
5.3
5.1
4.6 4.5 5.0
OB Removal Volume (Mbcm)
120.0 4.5 4.5 4.5 4.4
4.1 4.2 4.1 4.0 4.1 4.1 4.3
3.7 3.5 3.5 3.6 3.7 4.0
3.5 3.4 87.6
90.0 82.5
71.5 73.4 75.4
68.966.2
61.566.0 62.1 57.7
62.7
57.8 62.1 3.0
53.9 56.5
60.0 49.853.2 49.152.5 45.948.2
2.0
30.0
1.0
- -
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THE ADARO GROUP’S SALES BY DESTINATION IN 1H24
Others
India 3%
11% Indonesia
26%
China
18%
Northeast Asia
Southeast Asia
24%
18%
ADARO ENERGY PILLAR
1. MINING
PT Adaro Indonesia (AI)
• AI’s production volume in 1H24 reached 25.69 Mt, 3% higher than in 1H23. Sales
volume in the period reached 29.49 Mt, 2% increase y-o-y. AI’s total overburden
removal in the period reached 106.62 Mbcm, 5% increase from 1H23, resulting in a
strip ratio of 4.15x in 1H24.
2Q24 vs. 1H24 vs.
Units 2Q24 1Q24 2Q24 vs. 1Q24 2Q23 1H24 1H23
2Q23 1H23
Overburden Removal Mbcm 57.11 49.50 15% 57.02 0% 106.62 102.00 5%
Production Volume Mt 12.48 13.21 -6% 13.17 -5% 25.69 24.98 3%
Sales Volume Mt 15.44 14.05 10% 14.79 4% 29.49 28.86 2%
Balangan Coal Companies (BCC)
• Balangan Coal Companies’ production volume reached 4.45 Mt in 1H24, 10% higher
than in 1H23. Total overburden removal of 19.48 Mbcm was 34% higher than in 1H23
leading to 1H24 strip ratio of 4.38x.
2Q24 vs. 1H24 vs.
Units 2Q24 1Q24 2Q24 vs. 1Q24 2Q23 1H24 1H23
2Q23 1H23
Overburden Removal Mbcm 9.82 9.66 2% 8.27 19% 19.48 14.54 34%
Production Volume Mt 2.28 2.16 6% 2.15 6% 4.45 4.04 10%
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PT Mustika Indah Permai (MIP)
• MIP recorded 42% higher production volume in 1H24 of 2.61 Mt with sales volume of
2.86 Mt, 47% higher than in 1H23.
• Overburden removal volume in 1H24 of 5.12 Mbcm was 10% lower than in 1H23, and
1H24 strip ratio declined 36% to 1.96x.
• MIP’s sales destination in 1H24 was dominated by the export market led by India and
China.
2Q24 vs. 2Q24 vs. 1H24 vs.
Units 2Q24 1Q24 2Q23 1H24 1H23
1Q24 2Q23 1H23
Overburden Removal Mbcm 3.41 1.71 100% 3.84 -11% 5.12 5.66 -10%
Production Volume Mt 1.47 1.14 29% 1.08 37% 2.61 1.84 42%
Sales Volume Mt 1.47 1.39 6% 1.14 29% 2.86 1.95 47%
Kestrel Mine (Kestrel)
• In 1H24, Kestrel recorded saleable coal production volume of 2.32 Mt, 8% lower
compared to 1H23. Kestrel’s sales volume in 1H24 reached 2.29 Mt, 2% increase from
1H23.
• Kestrel’s sales destinations consist of customers in major Asian markets. Japan was
Kestrel’s largest sales destination in 1H24 followed by India and South Korea.
2Q24 vs. 1H24 vs.
Units 2Q24 1Q24 2Q24 vs. 1Q24 2Q23 1H24 1H23
2Q23 1H23
Saleable Production Mt 1.50 0.82 82% 1.34 12% 2.32 2.52 -8%
Sales Volume Mt 1.54 0.75 106% 1.10 40% 2.29 2.24 2%
2. SERVICES
PT Saptaindra Sejati (SIS)
• In 1H24, SIS’s overburden removal volume declined 7% y-o-y to 92.75 Mbcm, while
production volume increased 4% y-o-y to 32.25 Mt.
2Q24 vs. 1H24 vs.
Units 2Q24 1Q24 2Q24 vs. 1Q24 2Q23 1H24 1H23
2Q23 1H23
Overburden Removal Mbcm 49.37 43.38 14% 55.49 -11% 92.75 100.04 -7%
Production Volume Mt 15.83 16.42 -4% 16.32 -3% 32.25 31.12 4%
3. LOGISTICS
PT Maritim Barito Perkasa (MBP)
• MBP’s barging volume in 1H24 increased by 10% to 34.62 Mt compared to 1H23. The
Adaro Group’s volume constituted almost the entire portion of MBP’s total barging
volume in the period.
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2Q24 vs. 1H24 vs.
Units 2Q24 1Q24 2Q24 vs. 1Q24 2Q23 1H24 1H23
2Q23 1H23
Barging Volume Mt 18.00 16.62 8% 16.51 9% 34.62 31.51 10%
4. POWER
• Our power plants continue to book solid performance in 2Q24. PT Makmur Sejahtera
Wisesa (MSW) recorded an average availability factor of 93.3% up until June 2024, a
strong performance despite the planned maintenance conducted in 2Q24. PT Tanjung
Power Indonesia’s (TPI) availability factor was 98.8% in 2Q24, reaching 91.5% for
YTD up to June 2024. Meanwhile, the availability factor for PT Bhimasena Power
Indonesia (BPI), which is currently undergoing planned maintenance until August
2024, was 87.0% during the quarter, bringing its availability factor to 92.1% for YTD
up to June 2024.
• PT Adaro Power (AP) and PT Adaro Clean Energy Indonesia (ACEI) continue to
support the Adaro Group’s green initiatives. MSW’s Solar PV in Kelanis produced 421
MWh in 1H24. Other carbon emission reduction initiatives include the continuation of
biomass co-firing at MSW in 1H24, which processed 2,535 tons of biomass, resulting
in a reduction of 3,799 tons of CO2 equivalent.
5. WATER
• In the second quarter of 2024, Adaro Water continues its positive operational
trajectory in all its businesses.
• In the water treatment business, Adaro Water through its subsidiaries, operates four
water treatment plants (WTP) with a total of capacity of 1,470 litre per second and
currently has four projects under-construction with total capacity of 1,100 litre per
second. Three of the under-construction projects (WTP in North Sumatera, West Java
and North Kalimantan) are expected to be operational later in the year.
• In mud and mine water business, through PT Adaro Wamco Prima (AWP) and PT
Adaro Tirta Sarana (ATS), Adaro Water has exceeded its targeted slurry and
dewatering volume during the quarter.
• Through PT Adaro Tirta Wening (ATW) in the non-revenue water business, Adaro
Water has established 70 District Meter Areas (DMA) out of the total 72 target areas,
while continuing to identify and repair water leakages, produce smart water meters,
and replace customer water meters.
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ADARO MINERALS PILLAR
PT Adaro Minerals Indonesia Tbk (IDX: ADMR)
• ADMR’s metallurgical coal production volume in 1H24 reached 2.98 Mt, a 17% increase
over 1H23, with sales reaching 2.59 Mt, 43% higher than in 1H23.
• Overburden removal volume reached 10.36 Mbcm in 1H24, 37% higher than in 1H23,
leading to a strip ratio of 3.48x, a 17% increase from 1H23. The significant increase in
overburden removal volume y-o-y is due to the expansion of PT Maruwai Coal’s mining
area and the restart of operations from PT Lahai Coal.
• The company has continued to increase its sales to the domestic market, thus Indonesia
accounted for the largest portion of its sales at 37% in 1H24. In the seaborne market,
Japan was its largest export destination, accounting for 29% of sales in 1H24.
2Q24 vs. 2Q24 vs. 1H24 vs.
Units 2Q24 1Q24 2Q23 1H24 1H23
1Q24 2Q23 1H23
Overburden Removal Mbcm 5.02 5.34 -6% 4.25 18% 10.36 7.55 37%
Maruwai Mbcm 4.35 4.27 2% 4.25 2% 8.63 7.55 14%
Lahai Mbcm 0.67 1.07 -38% - 100% 1.74 - 100%
Production Volume Mt 1.42 1.56 -9% 1.32 8% 2.98 2.54 17%
Maruwai Mt 1.34 1.45 -7% 1.32 1% 2.78 2.54 9%
Lahai Mt 0.09 0.11 -22% - 100% 0.20 - 100%
Sales Volume Mt 1.54 1.05 47% 0.97 59% 2.59 1.82 43%
Maruwai Mt 1.46 0.96 52% 0.97 51% 2.42 1.82 33%
Lahai Mt 0.08 0.09 -13% - 100% 0.17 - 100%
PT Kalimantan Aluminium Industry (KAI)
• In 1H24, KAI focused on completing soil improvement, piling works, and foundation works
in the aluminium smelter area. In the jetty area, KAI focused on piling completion, dredging
work, and the upper structure for berthing facilities. Additionally, KAI is also making
progress on the foundation and structure works of the permanent dormitory.
ADARO GREEN PILLAR
• The Adaro Green pillar was set up to accommodate our aspiration to build a bigger and
greener Adaro by seizing opportunities in Indonesia’s green economy. Through PT Adaro
Clean Energy Indonesia (ACEI) and its subsidiaries, the Adaro Group is undergoing feasibility
studies to develop multiple renewable sources of energy.
• PT Adaro Sarana Energi Terbarukan (ASET), a subsidiary of ACEI, plans to reduce the diesel
consumption used at the Adaro Group’s operation and will continue developing renewable
projects within the Adaro Group to demonstrate the Group’s commitment to green
transformation.
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HEALTH, SAFETY AND ENVIRONMENT (HSE)
In 1H24, we experienced four lost-time injuries (LTI) and two fatal incidents throughout the Adaro
Group’s operations. In 1H24 we recorded a lost-time injury frequency rate (LTIFR) of 0.09 and
severity rate (SR) of 189.56. Total man-hours worked in the 1H24 period was 64,099,959,
representing a 6% increase from 60,548,562 in 1H23. We deeply regret these incidents and have
thoroughly investigated them. We will continue to review and update our safety protocols to
prevent such incidents in the future. We further instill the Adaro Zero Accident Mindset (AZAM)
throughout the Adaro Group to improve the safety culture and hence safety performance across
the Adaro Group.
CORPORATE ACTIVITIES AND AWARD
April 2024
• Adaro Group subsidiaries, PT Laskar Semesta Alam (LSA), PT Semesta Centramas
(SCM) and PT Makmur Sejahtera Wisesa (MSW) obtained international certification ISO
45001:2018 (Occupational Health and Safety Management System) and ISO 14001:2015
(Environmental Management System). The certification reaffirms the strong commitment
the Group has to continuously improve in areas of occupational health and safety and
environmental performance throughout the Group’s entire business process.
May 2024
• Egat International Company Limited (EGATi), together with Adaro Bangun Negeri
Foundation (YABN), and Universitas Pembangunan Nasional “Veteran” Yogyakarta
(UPNVY) have signed Memorandum of Understanding to provide scholarship for high
school graduates from the operational areas of PT Adaro Indonesia (AI) to continue their
studies in UPN. This program is aimed to improve education, research, and community
service in AI's operational areas.
• PT Adaro Indonesia (AI) was awarded the Gold and Silver awards at the Corporate Social
Responsibility & Sustainable Village Development Award 2024, organised by the
Indonesian Social Sustainability Forum and the Ministry of Village, Development of
Disadvantaged Regions, and Transmigration. The Gold Award recognised AI’s effort in
Tourism Development Program in Liyu Village, South Kalimantan, while the Silver Award
recognised AI’s role in Village-owned Enterprises Development Program in Jambu Village,
South Kalimantan.
• PT Bhimasena Power Indonesia (BPI) received two Gold and one Silver Awards at the
Corporate Social Responsibility & Sustainable Village Development Award 2024,
organised by the Indonesian Social Sustainability Forum and the Ministry of Village,
Development of Disadvantaged Regions, and Transmigration, in recognition of its CSR
programs. BPI’s CSR programs are considered successful in the implementation,
coaching, and development of the economy, health and resources of rural communities.
The Gold Awards recognised the Social Inclusion-Based Community Literacy Access
Improvement Program and the Empowered Community Women Entrepreneurship
Program, while the Silver Award was for the Turning Waste into Blessings: Application of
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Concrete Coastal Ecosystem Restoration Technology by Utilizing Coal Waste of Batang
Power Plant Program.
• Top Business Magazine awarded Balangan Coal Companies subsidiaries with three
awards, in recognition of their high-level commitment to CSR innovation in ESG:
o The 4-Star Award for PT Semesta Centramas
o The 3-Star Award for PT Laskar Semesta Alam
o The Top Leader on CSR Commitment Award granted to Balangan Coal
Companies President Director
June 2024
• PT Adaro Energy Indonesia Tbk. (AEI) has been ranked 49th out of 500 companies in
Southeast Asia in the Fortune Southeast Asian 500 List debut. In the energy sector in
Indonesia, AEI ranked 3rd.
• PT Laskar Semesta Alam (LSA) and PT Alam Tri Bangun Indonesia (ATBI) received an
award as the Largest Taxpayers for the 2023 Tax year in South Jakarta 1 Regional Tax
Office. The award was granted in recognition of the companies’ compliance and
adherence to fulfilling tax obligations throughout 2023.
• PT Adaro Indonesia (AI) received an award as the largest contributor for the 2023 Tax
Year at the Regional Office of the Directorate General of Taxes for Large Taxpayers. The
award also recognised AI as a compliant and transparent taxpayer.
• PT Laskar Semesta Alam (LSA) won the Gold Category at the Bisnis Indonesia Corporate
Social Responsibility Awards (BISRA). LSA was chosen as one of the winners due to its
success in implementing its flagship program, “Organic Waste Management through
Maggot Cultivation”.
###
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These materials have been prepared by PT Adaro Energy Indonesia Tbk (the “Company”, “AEI”, “ADRO”) and have
not been independently verified. No representation or warranty, expressed or implied, is made and no reliance should
be placed on the accuracy, fairness or completeness of the information presented or contained in these materials. The
Company or any of its affiliates, advisers or representatives accepts no liability whatsoever for any loss howsoever
arising from any information presented or contained in these materials. The information presented or contained in
these materials is subject to change without notice and its accuracy is not guaranteed.
These materials contain statements that constitute forward-looking statements. These statements include descriptions
regarding the intent, belief or current expectations of the Company or its officers with respect to the consolidated results
of operations and financial condition of the Company. These statements can be recognized by the use of words such
as “expects,” “plan,” “will,” “estimates,” “projects,” “intends,” or words of similar meaning. Such forward-looking
statements are not guarantees of future performance and involve risks and uncertainties, and actual results may differ
from those in the forward-looking statements as a result of various factors and assumptions. The Company has no
obligation and does not undertake to revise forward-looking statements to reflect future events or circumstances.
These materials are for information purposes only and do not constitute or form part of an offer, solicitation or invitation
of any offer to buy or subscribe for any securities of the Company, in any jurisdiction, nor should it or any part of it form
the basis of, or be relied upon in any connection with, any contract, commitment or investment decision whatsoever.
Any decision to purchase or subscribe for any securities of the Company should be made after seeking appropriate
professional advice.
For further information please contact:
Investors
Danuta Komar | Danuta.Komar@adaro.com
Media
Febriati Nadira | Febriati.Nadira@adaro.com
9
Names mentioned 25 people and organisations named in the text · linked when the evidence is strong
unresolved
org
PT Mustika Indah Permai
p.4
unresolved
org
PT Saptaindra Sejati
p.4
unresolved
org
PT Maritim Barito Perkasa
p.4
unresolved
org
PT Makmur Sejahtera Wisesa
p.5 ×2
unresolved
org
PT Tanjung Power Indonesia’s
p.5
unresolved
org
PT Bhimasena Power Indonesia
p.5 ×2
unresolved
org
PT Adaro Power
p.5
unresolved
org
PT Adaro Wamco Prima
p.5
unresolved
org
PT Adaro Tirta Sarana
p.5
unresolved
org
PT Adaro Tirta Wening
p.5
unresolved
org
PT Maruwai Coal’s
p.6
unresolved
org
PT Lahai Coal.
p.6
unresolved
org
PT Adaro Sarana Energi Terbarukan
p.6
unresolved
org
PT Laskar Semesta Alam
p.7 ×4
unresolved
org
PT Semesta Centramas
p.7 ×2
unresolved
org
Egat International Company Limited
p.7
unresolved
org
Ministry of Village
p.7 ×2
unresolved
org
PT Alam Tri Bangun Indonesia
p.8
unresolved
org
Directorate General of Taxes
p.8
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