The core profit of PT Adaro Minerals Indonesia Tbk (ADMR) skyrocketed 112.42% in 2022 along with a 97% increase in revenue. This growth was driven by an increase in production volume and coal prices over the past year.

Christian Ariano Rachmat, President Director/Chief Executive Officer of PT Adaro Minerals Indonesia Tbk (ADMR) said that the company posted a profit of US$ 342 million, up from US$ 161 million in 2021. The increase in profit was driven by revenue growth to US$ 908.14 million, from a similar period in 2021 as much as US$ 460.17 million.

"Performance throughout 2022 has been satisfactory in terms of conducive market conditions, seen in the strong prices in 2022," he said in a press release quoted on Thursday (2/3).

The average selling price (ASP) rose 42% and sales volume rose 39% to 3.2 million tonnes from 2.30 million tonnes in 2021. Overburden removal reached 8.32 mbcm, up from 5.15 mbcm during 2021. (LK/LM)

Source: https://www.idnfinancials.com/news/46170/admr-posts-profit