Board Change • May 20
No independent directors There are 3 new directors who have joined the board in the last 3 years. Of these new board members, none were independent directors. The company's board is composed of: 3 new directors. 3 experienced directors. 3 highly experienced directors. No independent directors (3 non-independent directors). President Commissioner Edwin Soeryadjaya is the most experienced director on the board, commencing their role in 2008. Independent Commissioner Budi Bowoleksono was the last independent director to join the board, commencing their role in 2022. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Lack of experienced directors. Board Change • Dec 30
No independent directors There are 3 new directors who have joined the board in the last 3 years. Of these new board members, none were independent directors. The company's board is composed of: 3 new directors. 3 experienced directors. 3 highly experienced directors. No independent directors (3 non-independent directors). President Commissioner Edwin Soeryadjaya is the most experienced director on the board, commencing their role in 2008. Independent Commissioner Budi Bowoleksono was the last independent director to join the board, commencing their role in 2022. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Lack of experienced directors. Reported Earnings • Aug 31
Second quarter 2025 earnings released: EPS: US$0.003 (vs US$0.013 in 2Q 2024) Second quarter 2025 results: EPS: US$0.003 (down from US$0.013 in 2Q 2024). Revenue: US$476.1m (down 69% from 2Q 2024). Net income: US$98.2m (down 76% from 2Q 2024). Profit margin: 21% (down from 26% in 2Q 2024). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 41% p.a. on average during the next 3 years, compared to a 10% growth forecast for the Oil and Gas industry in Germany. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 50 percentage points per year, which is a significant difference in performance. Board Change • Aug 18
No independent directors There are 3 new directors who have joined the board in the last 3 years. Of these new board members, none were independent directors. The company's board is composed of: 3 new directors. 3 experienced directors. 3 highly experienced directors. No independent directors (3 non-independent directors). President Commissioner Edwin Soeryadjaya is the most experienced director on the board, commencing their role in 2008. Independent Commissioner Budi Bowoleksono was the last independent director to join the board, commencing their role in 2022. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Lack of experienced directors. Duyuru • Apr 10
PT Alamtri Resources Indonesia Tbk (IDX:ADRO) announces an Equity Buyback for IDR 4,000,000 million worth of its shares. PT Alamtri Resources Indonesia Tbk (IDX:ADRO) announces a share repurchase program. Under the program, the company will repurchase up to IDR 4,000,000 million worth of its shares. The repurchase program is subject to annual general meeting's approval. The repurchase program is valid for 12 months. Duyuru • Apr 09
PT Alamtri Resources Indonesia Tbk, Annual General Meeting, May 15, 2025 PT Alamtri Resources Indonesia Tbk, Annual General Meeting, May 15, 2025. Board Change • Dec 30
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 6 non-independent directors. Independent Commissioner Budi Bowoleksono was the last independent director to join the board, commencing their role in 2022. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Nov 01
Third quarter 2024 earnings released: EPS: US$0.013 (vs US$0.011 in 3Q 2023) Third quarter 2024 results: EPS: US$0.013 (up from US$0.011 in 3Q 2023). Revenue: US$1.48b (down 1.5% from 3Q 2023). Net income: US$404.2m (up 17% from 3Q 2023). Profit margin: 27% (up from 23% in 3Q 2023). The increase in margin was driven by lower expenses. Revenue is forecast to decline by 3.2% p.a. on average during the next 3 years, while revenues in the Oil and Gas industry in Europe are expected to remain flat. Over the last 3 years on average, earnings per share has increased by 12% per year but the company’s share price has increased by 32% per year, which means it is tracking significantly ahead of earnings growth. Duyuru • Oct 07
Banks Reportedly Tapped for Kestrel Sale EMR Capital Pty. Ltd. is understood to have hired Bank of America and Macquarie Capital for a sale of its USD 3 billion plus Kestrel coal mine that could come on the market as soon as this year. The asset is likely to come up for sale after the conclusion of the USD 4 billion Anglo American sale process for Queensland coal mines, capitalising on its strong sale momentum and offering underbidders the opportunity to secure another top-quality asset in the sector. Kestrel is the underground coking or metallurgical coal mine, producing about 7.1 million tonnes of coal annually which is used to make steel worldwide. It is located in Queensland's Bowen Basin, 51km northeast of Emerald, and was purchased from Adaro Energy by the Owen Hegarty-chaired EMR Capital in 2018 for USD 2.25 billion. Although EMR Capital owns 52%, PT Adaro Energy Indonesia Tbk (IDX:ADRO) owns the remainder and has pre-emptive rights to buy out EMR's stake should it opt not to divest its interest. The sale comes after BHP also offloaded its Daunia and Blackwater coal mines to Whitehaven Coal last year in a deal worth USD 3.2 billion, while South32 last year sold its Illawarra Coal mine to Golden Energy Resources and M Resources for USD 1.65 billion. Duyuru • Sep 13
Adaro Energy Indonesia Intends to Sell Up to All of Its Stake in Adaro Andalan Indonesia PT Adaro Energy Indonesia Tbk (IDX:ADRO) intended to sell up to all of the shares under its ownership in PT Adaro Andalan Indonesia. Reported Earnings • Aug 28
Second quarter 2024 earnings released: EPS: US$0.013 (vs US$0.013 in 2Q 2023) Second quarter 2024 results: EPS: US$0.013 (in line with 2Q 2023). Revenue: US$1.53b (down 6.7% from 2Q 2023). Net income: US$404.4m (down 2.7% from 2Q 2023). Profit margin: 26% (up from 25% in 2Q 2023). The increase in margin was driven by lower expenses. Revenue is expected to fall by 4.6% p.a. on average during the next 3 years compared to a 1.1% decline forecast for the Oil and Gas industry in Europe. Over the last 3 years on average, earnings per share has increased by 26% per year but the company’s share price has increased by 46% per year, which means it is tracking significantly ahead of earnings growth. New Risk • Jun 12
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of German stocks, typically moving 10% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (10% average weekly change). Earnings are forecast to decline by an average of 25% per year for the foreseeable future. Minor Risk Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Reported Earnings • May 01
First quarter 2024 earnings released: EPS: US$0.012 (vs US$0.015 in 1Q 2023) First quarter 2024 results: EPS: US$0.012 (down from US$0.015 in 1Q 2023). Revenue: US$1.44b (down 22% from 1Q 2023). Net income: US$374.3m (down 18% from 1Q 2023). Profit margin: 26% (up from 25% in 1Q 2023). The increase in margin was driven by lower expenses. Revenue is forecast to decline by 9.2% p.a. on average during the next 3 years, while revenues in the Oil and Gas industry in Germany are expected to remain flat. Over the last 3 years on average, earnings per share has increased by 42% per year but the company’s share price has only increased by 34% per year, which means it is significantly lagging earnings growth. Duyuru • Apr 10
PT Adaro Energy Indonesia Tbk, Annual General Meeting, May 15, 2024 PT Adaro Energy Indonesia Tbk, Annual General Meeting, May 15, 2024, at 02:00 Coordinated Universal Time. Buy Or Sell Opportunity • Mar 28
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 2.6% to €0.15. The fair value is estimated to be €0.19, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 39% over the last 3 years. Earnings per share has grown by 57%. For the next 3 years, revenue is forecast to decline by 12% per annum. Earnings are also forecast to decline by 30% per annum over the same time period. Buy Or Sell Opportunity • Mar 08
Now 20% undervalued The stock has been flat over the last 90 days, currently trading at €0.15. The fair value is estimated to be €0.19, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 39% over the last 3 years. Earnings per share has grown by 57%. For the next 3 years, revenue is forecast to decline by 13% per annum. Earnings are also forecast to decline by 33% per annum over the same time period. Reported Earnings • Mar 01
Full year 2023 earnings released: EPS: US$0.053 (vs US$0.08 in FY 2022) Full year 2023 results: EPS: US$0.053 (down from US$0.08 in FY 2022). Revenue: US$6.52b (down 20% from FY 2022). Net income: US$1.64b (down 34% from FY 2022). Profit margin: 25% (down from 31% in FY 2022). The decrease in margin was driven by lower revenue. Revenue is forecast to decline by 16% p.a. on average during the next 2 years, while revenues in the Oil and Gas industry in Germany are expected to remain flat. Over the last 3 years on average, earnings per share has increased by 57% per year but the company’s share price has only increased by 32% per year, which means it is significantly lagging earnings growth. Reported Earnings • Nov 02
Third quarter 2023 earnings released: EPS: US$0.011 (vs US$0.022 in 3Q 2022) Third quarter 2023 results: EPS: US$0.011 (down from US$0.022 in 3Q 2022). Revenue: US$1.50b (down 37% from 3Q 2022). Net income: US$345.1m (down 50% from 3Q 2022). Profit margin: 23% (down from 29% in 3Q 2022). The decrease in margin was driven by lower revenue. Revenue is expected to decline by 15% p.a. on average during the next 3 years, while revenues in the Oil and Gas industry in Germany are expected to grow by 2.8%. Over the last 3 years on average, earnings per share has increased by 73% per year but the company’s share price has only increased by 35% per year, which means it is significantly lagging earnings growth. Reported Earnings • Aug 23
Second quarter 2023 earnings released: EPS: US$0.013 (vs US$0.026 in 2Q 2022) Second quarter 2023 results: EPS: US$0.013 (down from US$0.026 in 2Q 2022). Revenue: US$1.64b (down 29% from 2Q 2022). Net income: US$415.8m (down 49% from 2Q 2022). Profit margin: 25% (down from 35% in 2Q 2022). The decrease in margin was driven by lower revenue. Revenue is expected to decline by 20% p.a. on average during the next 3 years, while revenues in the Oil and Gas industry in Germany are expected to grow by 1.5%. Over the last 3 years on average, earnings per share has increased by 85% per year but the company’s share price has only increased by 43% per year, which means it is significantly lagging earnings growth. Reported Earnings • May 03
First quarter 2023 earnings released: EPS: US$0.015 (vs US$0.013 in 1Q 2022) First quarter 2023 results: EPS: US$0.015 (up from US$0.013 in 1Q 2022). Revenue: US$1.84b (up 50% from 1Q 2022). Net income: US$458.0m (up 14% from 1Q 2022). Profit margin: 25% (down from 33% in 1Q 2022). The decrease in margin was driven by higher expenses. Revenue is expected to decline by 14% p.a. on average during the next 3 years, while revenues in the Oil and Gas industry in Germany are expected to grow by 1.6%. Over the last 3 years on average, earnings per share has increased by 91% per year but the company’s share price has only increased by 53% per year, which means it is significantly lagging earnings growth. Reported Earnings • Mar 03
Full year 2022 earnings released: EPS: US$0.08 (vs US$0.029 in FY 2021) Full year 2022 results: EPS: US$0.08 (up from US$0.029 in FY 2021). Revenue: US$8.10b (up 103% from FY 2021). Net income: US$2.49b (up 167% from FY 2021). Profit margin: 31% (up from 23% in FY 2021). The increase in margin was driven by higher revenue. Revenue is expected to decline by 21% p.a. on average during the next 2 years, while revenues in the Oil and Gas industry in Germany are expected to grow by 7.2%. Over the last 3 years on average, earnings per share has increased by 91% per year but the company’s share price has only increased by 40% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Dec 26
Upcoming dividend of US$0.016 per share Eligible shareholders must have bought the stock before 02 January 2023. Payment date: 13 January 2023. Payout ratio is a comfortable 12% and this is well supported by cash flows. Trailing yield: 8.5%. Within top quartile of German dividend payers (5.1%). Higher than average of industry peers (1.2%). Duyuru • Dec 24
PT Adaro Energy Indonesia Tbk Announces Interim Dividend, Payable on January 13, 2023 PT Adaro Energy Indonesia Tbk announced a historically high interim dividend of $500 million or $0.016 per share resulting from record profitability through nine months of 2022. This represents an increase of 67% from the interim dividend of $300 million in 2021 and the highest-ever interim dividend at the Company. Cum dividend is December 30, 2022. Ex-dividend is January 2, 2023. Record date of shareholders entitled to interim cash dividends is January 3, 2023. Interim dividend payment is January 13, 2023. Board Change • Nov 16
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 7 non-independent directors. Independent Commissioner Budi Bowoleksono was the last independent director to join the board, commencing their role in 2022. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Nov 02
Third quarter 2022 earnings released: EPS: US$0.022 (vs US$0.008 in 3Q 2021) Third quarter 2022 results: EPS: US$0.022 (up from US$0.008 in 3Q 2021). Revenue: US$2.37b (up 136% from 3Q 2021). Net income: US$690.7m (up 175% from 3Q 2021). Profit margin: 29% (up from 25% in 3Q 2021). The increase in margin was driven by higher revenue. Revenue is expected to fall by 16% p.a. on average during the next 3 years compared to a 4.5% decline forecast for the Oil and Gas industry in Germany. Over the last 3 years on average, earnings per share has increased by 81% per year but the company’s share price has only increased by 44% per year, which means it is significantly lagging earnings growth. Reported Earnings • Aug 31
Second quarter 2022 earnings released: EPS: US$0.026 (vs US$0.003 in 2Q 2021) Second quarter 2022 results: EPS: US$0.026 (up from US$0.003 in 2Q 2021). Revenue: US$2.32b (up 166% from 2Q 2021). Net income: US$812.6m (up US$714.4m from 2Q 2021). Profit margin: 35% (up from 11% in 2Q 2021). The increase in margin was driven by higher revenue. Over the next year, revenue is forecast to stay flat compared to a 41% growth forecast for the Oil and Gas industry in Germany. Over the last 3 years on average, earnings per share has increased by 58% per year whereas the company’s share price has increased by 53% per year. Reported Earnings • Apr 30
First quarter 2022 earnings released: EPS: US$0.013 (vs US$0.002 in 1Q 2021) First quarter 2022 results: EPS: US$0.013 (up from US$0.002 in 1Q 2021). Revenue: US$1.22b (up 77% from 1Q 2021). Net income: US$400.1m (up 458% from 1Q 2021). Profit margin: 33% (up from 10% in 1Q 2021). The increase in margin was driven by higher revenue. Over the next year, revenue is forecast to grow 22%, compared to a 46% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has increased by 27% per year but the company’s share price has increased by 44% per year, which means it is tracking significantly ahead of earnings growth. Board Change • Apr 27
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 6 non-independent directors. Independent Commissioner Budi Bowoleksono was the last independent director to join the board, commencing their role in 2022. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Buying Opportunity • Mar 09
Now 21% undervalued Over the last 90 days, the stock is up 68%. The fair value is estimated to be US$0.24, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 7.1% per annum over the last 3 years. Earnings per share has been flat over the last 3 years. Reported Earnings • Mar 04
Full year 2021 earnings: EPS in line with analyst expectations despite revenue beat Full year 2021 results: EPS: US$0.029 (up from US$0.005 in FY 2020). Revenue: US$3.99b (up 57% from FY 2020). Net income: US$933.5m (up US$786.6m from FY 2020). Profit margin: 23% (up from 5.8% in FY 2020). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 2.3%. Over the next year, revenue is forecast to grow 11%, compared to a 68% growth forecast for the oil industry in Germany. Over the last 3 years on average, earnings per share has fallen by 2% per year but the company’s share price has increased by 30% per year, which means it is well ahead of earnings. Reported Earnings • Dec 01
Third quarter 2021 earnings: EPS in line with expectations, revenues disappoint Third quarter 2021 results: EPS: US$0.008 (up from US$0.001 loss in 3Q 2020). Revenue: US$1.01b (up 70% from 3Q 2020). Net income: US$250.9m (up US$296.7m from 3Q 2020). Profit margin: 25% (up from net loss in 3Q 2020). The move to profitability was driven by higher revenue. Revenue missed analyst estimates by 17%. Over the next year, revenue is forecast to grow 25%, compared to a 50% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has fallen by 29% per year but the company’s share price has increased by 11% per year, which means it is well ahead of earnings. Reported Earnings • Sep 01
Second quarter 2021 earnings released: EPS US$0.003 (vs US$0.002 in 2Q 2020) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: US$870.8m (up 42% from 2Q 2020). Net income: US$98.2m (up 73% from 2Q 2020). Profit margin: 11% (up from 9.3% in 2Q 2020). Over the last 3 years on average, earnings per share has fallen by 40% per year but the company’s share price has only fallen by 10% per year, which means it has not declined as severely as earnings. Reported Earnings • May 03
First quarter 2021 earnings released: EPS US$0.002 (vs US$0.003 in 1Q 2020) The company reported a poor first quarter result with weaker earnings, revenues and profit margins. First quarter 2021 results: Revenue: US$692.0m (down 7.8% from 1Q 2020). Net income: US$71.7m (down 27% from 1Q 2020). Profit margin: 10% (down from 13% in 1Q 2020). Over the last 3 years on average, earnings per share has fallen by 34% per year but the company’s share price has only fallen by 8% per year, which means it has not declined as severely as earnings. Analyst Estimate Surprise Post Earnings • Mar 06
Revenue misses expectations Revenue missed analyst estimates by 4.3%. Over the next year, revenue is forecast to grow 19%, compared to a 31% growth forecast for the Oil and Gas industry in Germany. Reported Earnings • Mar 06
Full year 2020 earnings released: EPS US$0.005 (vs US$0.013 in FY 2019) The company reported a poor full year result with weaker earnings, revenues and profit margins. Full year 2020 results: Revenue: US$2.53b (down 27% from FY 2019). Net income: US$146.9m (down 64% from FY 2019). Profit margin: 5.8% (down from 12% in FY 2019). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 26% per year but the company’s share price has only fallen by 20% per year, which means it has not declined as severely as earnings. Analyst Estimate Surprise Post Earnings • Nov 04
Revenue beats expectations Revenue exceeded analyst estimates by 9.2%. Over the next year, revenue is forecast to grow 6.1%, compared to a 11% growth forecast for the Oil and Gas industry in Germany. Reported Earnings • Nov 04
Third quarter 2020 earnings released: US$0.001 loss per share The company reported a poor third quarter result with weaker earnings, revenues and control over expenses. Third quarter 2020 results: Revenue: US$591.6m (down 33% from 3Q 2019). Net loss: US$45.7m (down 142% from profit in 3Q 2019). Over the last 3 years on average, earnings per share has fallen by 19% per year whereas the company’s share price has fallen by 16% per year.