PT Adaro Minerals Indonesia Tbk explained its performance during the third quarter of 2022. The issuer with the ADMR stock code noted that core profit rose to USD 292 million or around IDR 4.52 trillion (exchange rate of IDR 15,500) for 9 months in 2022. The increase in core profit was recorded at 456% compared to the previous year. In the first 9 months of 2021 Adaro only recorded a profit of USD 52 million or around IDR 806 billion. President Director and CEO of Adaro Minerals Indonesia Christian Ariano Rachmat, said 2022 was an exciting year for Adaro Minerals, which started the year with an initial public offering in the early quarter and achieved historically high prices for its products in the second quarter. "Throughout this year and continuing into the fourth quarter, our team is working hard to meet the production target which has increased significantly and is preparing to reach the upper range of the company's guidance, which equates to a production increase of more than 40%," said Christian in a statement, Monday (31/31/2020). 10/2022).
Adaro recorded a 105% increase in average coal selling price and a 41% increase in coal sales volume during the first 9 months of 2022. The company recorded a production volume of 2.56 million tons during the first 9 months, up 48% from 1.73 million tons compared to the previous year. Adaro also recorded a record high sales volume of 2.19 million tons in the third quarter. Port expansion and fuel storage projects as well as upgrading the quality of coal haul roads continued in the third quarter. These projects will support the achievement of Adaro's medium-term production target of 6 million tonnes per year.
