Country’s giant coal producer PT Adaro Energy (ADRO) still operates normally amid the coronavirus pandemic, as many people are forced to work from home. “Electricity supply remains essential during this work from home situation, since coal is the backbone for the state electricity company PLN to fuel its operation,” said the company’s president director Garibaldi “Boy” Thohir in a statement on Wednesday.
Consequently, ADRO will keep the focus on increasing its operations while controlling cost efficiency and executing strategies so that the business can stay afloat. “Every business in our company already prepares a crisis management plan and takes necessary preventive measures to ensure there is no disruption,” he added.
Stefanus Darmagiri, an analyst at Danareksa Sekuritas, in his latest research, stated that Adaro expects a solid coal production during the first quarter, amid the challenging coal outlook caused by the pandemic. This will help maintain the company to meet its target to produce 54-58 million tonnes of coal this year. He forecasted Adaro's operational EBITDA will be at $1.1 billion this year, while the company expects it to be around $900 million to $1.2 billion.
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