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Adaro's Q4'19 coal output down 8% YOY

Indonesia's PT Adaro Energy Tbk. produced 13.91 million tonnes of coal in the fourth quarter of 2019, dropping 8% year over year from 15.06 Mt.

The decline was in line with the company's production plan for each coal mining subsidiary, according to a Feb. 17 release. Sales volumes fell 4% to 14.52 Mt.

For the 2019 full year, coal production rose 7% yearly to 58.03 Mt, beating the annual guidance range of 54 Mt to 56 Mt. Sales grew 9% to 59.18 Mt, with Southeast Asia accounting for 42% of Adaro's sales.

In 2020, Adaro aims to produce 54 Mt to 58 Mt of coal. It forecast operational EBITDA at US$900 million to US$1.2 billion and capital expenditures at US$300 million to US$400 million.