PT Adaro Andalan Indonesia (AADI) investor relations material

Executive summary

• Achieved record production and sales volumes in FY24, with production up 8% and sales up 7% year-over-year, surpassing targets despite a 17% drop in average selling price (ASP).

• Revenue declined 10% to $5,320 million due to weaker global coal prices, while operational EBITDA fell 19% to $1,315 million and core earnings dropped 21% to $1,044 million.

• Net profit for FY24 was $1,327 million, with an operational EBITDA margin of 25%.

Financial highlights

• Revenue decreased 10% year-over-year to $5,320 million, while cost of revenue fell 8% to $3,854 million.

• Gross profit declined 15% to $1,466 million; operating income rose 6% to $1,481 million.

• Free cash flow dropped 42% to $816 million; cash and cash equivalents decreased 40% to $1,519 million.

• Total assets fell 15% to $5,993 million; total liabilities increased 16% to $2,629 million; equity declined 30% to $3,363 million.

• Capital expenditure rose 36% to $370 million, mainly for investments in power, logistics, and infrastructure.

Outlook and guidance

• FY25 sales volume guidance: 65–67 Mt of thermal coal; strip ratio expected at 4.3x, flat year-over-year.

• FY25 capital expenditure projected at $250–300 million.