PT Indonesia Bulk Terminal

Adaro Energy Annual Report 2008 www.adaro.com 73 Financial Review The audited consolidated net proit for the year ended December 31, 2008 increased 902 to Rp 887 billion from the Rp 89 billion year ended December 31, 2007. Adaro Energy’s 2008 basic earnings per share EPS was Rp 35. The signiicant increase is attributed to higher achieved selling prices of coal as well as increased production, which increased revenue 56 to Rp 18,093 billion. Meanwhile, the cost of revenue increased at a lesser rate of 45, boosting the gross margin from 22 in 2007 to 27 in 2008. Adaro Energy’s operating income increased 87 to Rp 4,212 billion, resulting in a wider operation margin, which increased from 19 to 23. Summary of Full Year 2008 Performance in millions of Rupiah 2007 2008 change Production Volume Mt 36,078 38,524 7 Sales Volume Mt 37,550 41,099 9 Net Revenue Bn Rp 11,593 18,093 56 Cost of Revenue Bn Rp 9,089 13,149 45 Operating Income Bn Rp 2,253 4,212 87 Net Income Bn Rp 89 887 902 EBITDA Bn Rp 2,423 4,455 84 Return On Invested Capital 0.7 6.3 5.6 Total Assets Bn Rp 14,689 33,720 130 Cash and Cash Equivalents Bn Rp 832 2,416 190 Available for Sale Investments Bn Rp 1,734 1,096 37 Interest Expense and Finance Charges Bn Rp 1,726 616 64 Total Interest Bearing Debt Bn Rp 7,426 11,039 49 Cost of US Bank Loans 6.4-17 2.3-6.9 Stockholders’ Equity Bn Rp 2,151 14,009 551 Number of Shares Outstanding thousand shares 20,624,780 31,985,962 Quick Ratio 0.85x 0.92x Net Debt to Equity 2.26x 0.54x Total Debt to Assets 0.51x 0.33x Subsidiary Performance in millions of Rupiah, without elimination for inter-company transactions Adaro IBT CTI SIS MSW Revenue 15,659,966 331,696 3,628,879 1,857,009 - Cost of Revenue 11,450,525 233,993 3,255,743 1,561,696 - Gross Proit 4,209,441 97,703 373,136 295,313 - Operating Income Loss 3,684,395 97,703 354,926 174,748 6,095 Net Income Loss 1,578,619 88,431 315,192 460,511 1,266 Total Assets 14,072,445 1,932,771 2,556,820 4,390,190 371,268 Interest bearing debt 5,698,238 - 1,747,762 3,592,941 - Capital Expenditures 216,684 16,439 184 1,114,272 101,444 Quality Earnings in millions of Rupiah 2007 2008 Net income 88,534 887,198 Extraordinary items, net of tax - 372,741 Amortization of goodwill 32,027 360,233 Amortization of mining rights 5,600 137,621 Foreign exchange loss gain 117,459 318,750 Pre-acquisition income 38,048 126,390 Quality Earnings 281,668 2,202,933 Quality Earnings equivalent in 000 US 30,831 233,774 Contact Us Governing Adaro Corporate Social Responsibility Financial Report