Company Profile: PT Adaro Energy Tbk (ADRO.JK)

Company Profile: PT Adaro Energy Tbk (ADRO.JK)

Photo: Adaro Energy   PT Adaro Energy Tbk (ADRO.JK) was established based on Notarial Deed No.25 dated 28 July 2004 of Sukawati Sumadi, S.H., Notary in Jakarta. Adaro's history begins as the Spanish government company, Enadimsa bid for Block 8 in Tanjung, South Kalimantan because coal is known to present in that area from outcrops mapped by Dutch geologists in the 1930s and from the intersection of oil wells that Pertamina had drilled in the 1960s. No other company made a bid for the block, as at that time the location was considered too far inland and had low-quality coal.

The name 'Adaro' was chosen to honor the Adaro family, who has played a major role in Spanish mining activities for several centuries. The Adaro-Indonesia Coal Cooperation Agreement (CCA) was signed on 2 November 1982. Enadimsa carried out exploration activities in the area from 1983 to 1989 when a consortium of Australian and Indonesian companies purchased 80% of Adaro Indonesia's ownership from Enadimsa.

Adaro Energy is a vertically integrated energy company in Indonesia with businesses in the coal, energy, utilities, and supporting infrastructure sectors. Adaro Energy's main coal site is in South Kalimantan, where it mines Envirocoal, a low pollutant thermal coal. Adaro Energy also has metallurgical coal assets ranging from semi-soft coking coal to premium hard coking coal in Indonesia and Australia.

Although coal remains in the company's DNA, Adaro Energy continues to develop its non-coal business to gain a more stable income base and to offset the volatility of the coal sector. Adaro Energy has an integrated business model consisting of eight pillars: Adaro Mining, Adaro Services, Adaro Logistics, Adaro Power, Adaro Land, Adaro Water, Adaro Capital, and the Adaro Foundation.

General Information

NamePT Adaro Energy Tbk
Ticker CodeADRO
AddressMenara Karya 23rd Floor Jl. H.R. Rasuna Said, Block X-5, Kav. 1-2 Jakarta 12950, Indonesia;
Tax Identification Number02.399.244.9-091.000
IPO Date16 Jul 2008
Main BusinessCoal Mining
Sub SectorOil, Gas, and Coal
Sub IndustryCoal Production

Financial Data

Stock Price


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