Jumat 21 Jun 2024 08:05 WIB

Adaro Enters Fortune Southeast Asia 500 List, Garibaldi Thohir: Proud and Grateful

Adaro ranks 49th out of 500 companies impacting regional economies.

Rep: Frederikus Bata/ Red: Budi Raharjo
President Director of PT Adaro Energy Indonesia Tbk Garibaldi Thohir.
Foto: Republika/Thoudy Badai
President Director of PT Adaro Energy Indonesia Tbk Garibaldi Thohir.

REPUBLIKA.CO.ID, JAKARTA -- PT Adaro Energy Indonesia Tbk (Adaro) is included in the prestigious 'Fortune Southeast Asia 500' list created for the first time in 2024 for the Southeast Asia region. Adaro ranks 49th out of 500 companies that make an impact on regional economic growth. Especially in the energy sector from Indonesia, Adaro is ranked third.

This achievement proves that Adaro's business transformation is able to increase the company's resilience amid industry dynamics and maintain sustainable growth. President Director and Chief Executive Officer Adaro Garibaldi Thohir could not express his excitement. It's one testament to the international recognition of Adaro's positive performance.

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“We are proud and grateful for the recognition that Fortune has given Adaro as one of the Fortune Southeast Asia 500 listed companies,” Garibaldi said in a press release on Thursday (20/6/2024).

After transforming in 2022 into three new pillars: Adaro Energy, Adaro Minerals, and Adaro Green, AEI's operational performance in 2023 improved to new records. That reflects the remarkable progress in the company's operational excellence.

Garibaldi insists that through the transformation of this business, it is optimistic that it can capture opportunities to ensure sustainable growth. It also enhances Adaro's role in supporting growth in the Southeast Asia region.

This year, Fortune focused on the Southeast Asia region taking into account the growing impact of Southeast Asia in the global economy. It was due to shifts in the supply chain and the rapid development of the economies of the countries in the region. Clay Chandler, Fortune Magazine's executive editor for Asia, reacted.

“The Fortune Southeast Asia 500 reflects a dynamic and rapidly changing region, where the core economy is growing much faster than Europe and the United States,” Clay said.

He continued, Southeast Asia increasingly has greater global significance. This is because many Global 500 multinationals have moved more of their supply chains to countries in the region.

The inaugural ranking includes companies from seven countries in Southeast Asia. There are Indonesia, Thailand, Malaysia, Singapore, Vietnam, Philippines, and Cambodia. Adaro is one of 110 Indonesian companies included in this list. In 2023, Adaro recorded a fairly satisfactory revenue of 6.5 billion US dollars. Adaro also posted core profit of US$1.9bn and operating EBITDA of US$2.5bn in FY23, as well as a satisfactory operating EBITDA margin of 39 per cent.

Furthermore, in 2023, Adaro Group will pay approximately a total of three billion US dollars in royalties and taxes including a portion of royalties and taxes from the previous year. The Adaro Group has diversified its business from coal mining and energy companies, to minerals and mineral processing businesses, in order to capture green economic opportunities while supporting the energy transition and decarbonization in various sectors.

Adaro also integrates ESG factors into its strategy. It achieves sustainable growth and value creation, for the sake of building a larger and more environmentally friendly Adaro.

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