JAKARTA – PT Adaro Minerals Indonesia Tbk (ADMR) saw a slight decline in net profit, despite a year-on-year (yoy) revenue increase of 6.35% in 2024. Additionally, the company’s stock has dropped 46.62% over the past year.

According to ADMR’s 2024 Financial Report, published on Monday (3/3), Christian Ariano Rachmat, President Director of ADMR, announced that the company’s net profit fell 0.98% yoy to USD 436.65 million, down from USD 441.02 million in 2023.

ADMR recorded a revenue increase of 6.35% yoy to USD 1.15 billion, up from USD 1.08 billion in 2023. The gross profit margin stood at 50%, down from 53.73% in 2023. Operating profit dropped to USD 540.34 million from USD 574.63 million, due to a significant increase in operating expenses.

ADMR’s revenue from Related Parties amounted to USD 455.26 million, down 6.49% yoy from USD 486.09 million, while revenue from Third Parties rose 16.63% yoy to USD 69.65 million from USD 59.86 million.

Notable ADMR third-party customers contributing over 10% of total revenue included PT Risun Wei Shan Indonesia, which contributed USD 152.91 million, a 338.58% yoy increase from USD 34.86 million, and Posco International Corporation, which contributed USD 132.48 million, a 515% yoy surge from USD 21.54 million.

Over the past year, ADMR’s stock has fallen by 46.62%, dropping by IDR 690 to IDR 790 per share. In the past six months, the stock fell 38.28%, or IDR 490, and in the past month, it decreased by 16.40%, or IDR 155 per share. However, as of Monday’s (3/3) trading session, ADMR’s stock rose by 1.94%, or IDR 15 per share. (LK/LM/ZH)