Adaro Energy Recorded Higher Earnings on the back of Higher Coal Prices and Continuous Efficiency across Its Operations

NEWS RELEASE Jakarta, April 27, 2017 For further information please contact: Mahardika Putranto, Head of Corporate Secretary & Investor Relations Division [email protected] Febriati Nadira, Head of Corporate Communication Division [email protected]

Adaro Energy Recorded Higher Earnings on the back of Higher Coal Prices and Continuous Efficiency across Its Operations Jakarta, April 27, 2017 – PT Adaro Energy Tbk (IDX: ADRO) today lodged its unaudited consolidated financial statements for the first three months of 2017, demonstrating the strength of our business model underpinned by cost efficiency and improved coal market conditions. Adaro Energy’s President Director and Chief Executive Officer, Mr. Garibaldi Thohir, said: “We remain cautiously optimistic with the dynamics in the coal market. Amidst the volatile condition, we continue to promote operational excellence and focus on efficiency and productivity across our three pillars of growth. We generated a solid Operational EBITDA and maintained a strong liquidity, ensuring business sustainability. Adaro Energy’s good start to the year demonstrated the strength of our vertically integrated business model and we are well positioned for the challenges and opportunities that lie ahead”.

1Q17 Financial Highlights:  Operational EBITDA increased 44% to US$276 million, reflecting the strength of our business model which delivers sustainable and profitable operations. We are well positioned to achieve our operational EBITDA guidance of US$900 million to US$1,100 million.  Core earnings, our core businesses’ after-tax earnings, increased 63% year-on-year to US$132 million. This displays earnings sustainability from our comprehensive business portfolio.  We maintained a strong liquidity of US$1,193 million, as Adaro Energy (AE) generated strong cash flow providing flexibility and support against the changing dynamics in the coal market.  Our balance sheet continued to get better and stronger with net debt to last 12 months operational EBITDA of 0.31x and net debt to equity of 0.08x.

1

Financial Performance (US$ million, except otherwise stated) Net Revenue Cost of Revenue

1Q17

1Q16

% Change

727

586

24%

(509)

(432)

18%

Gross Profit

218

154

42%

Operating Income

189

117

62%

132

81

63%

Core Earnings

1

Operational EBITDA

2

276

192

44%

Total Assets

6,510

5,950

9%

Total Liabilities

2,695

2,532

6%

Stockholders' Equity

3,815

3,417

12%

Interest-Bearing Debt

1,411

1,517

-7%

Cash

1,113

709

57%

299

808

-63%

9

14

-36%

182

65

180%

0.00304

0.00187

63%

Net Debt Capital Expenditure Free Cash Flow

3

4

Basic Earnings Per Share (EPS) in US$

Financial Ratios 1Q17

1Q16

% Change

Gross Profit Margin (%)

30.0%

26.3%

14%

Operating Margin (%)

26.0%

20.0%

30%

Operational EBITDA Margin (%)

38.0%

32.8%

16%

Net Debt to Equity (x)

0.08

0.24

-

Net Debt to last 12 months Op.EBITDA (x)

0.31

1.12

-

25.34

7.78

-

Cash from Operations to Capex (x)

1

Profit for the period excluding non-operational accounting items net of tax (amortization of mining properties). EBITDA excluding foreign exchange gain, net. 3 Capital expenditure is defined as: Purchase of fixed assets – proceed from disposal of fixed assets + payment for addition of mining properties. 4 Operational EBITDA – taxes – change in net working capital – capital expenditure. 2

2

Operating Segment Revenue

Profit for the year

1Q17

1Q16

% Change

1Q17

1Q16

% Change

679

549

24%

122

70

74%

Mining services

32

22

45%

(14)

2

-800%

Others

16

16

-%

14

6

133%

-

-

(12)

(18)

-33%

727

586

110

61

80%

(US$ million) Coal mining & trading

Elimination Adaro Energy Group

24%

FINANCIAL PERFORMANCE ANALYSIS FOR THE FIRST THREE MONTHS OF 2017

Net Revenue, Average Selling Price and Production Our average selling price increased by 39% compared to the same period last year as coal market conditions improved this year. In 1Q17, we booked US$727 million of revenue, a 24% increase from the same period last year. Our coal production in 1Q17 totaled 11.86 Mt and we are well positioned to achieve our 2017 production guidance of 52-54 Mt. Cost of Revenue Our cost of revenue went up by 18% to US$509 million due to higher strip ratio and fuel prices year over year. At the same time, we continued to sustain drive for efficiency and operational excellence along our vertically integrated supply chain. Our strip ratio for the period was 4.62x, slightly lower than our guidance of 4.85x for 2017 due to high levels of rainfall. Currently, we have hedged approximately 50% of our fuel requirements for the rest of 2017 at prices below our budget to mitigate risks associated with oil price fluctuations. Royalties to Government Due to the higher revenue, the royalties to the Government of Indonesia that accounted for 15% of the total cost of revenue in 1Q17 grew 26% to US$75 million. Operational EBITDA We recorded better profitability on the back of higher coal prices conditions and continuous efficiency with Operational EBITDA of US$276 million, up by 44%. We are on track to achieve our operational EBITDA guidance of US$900 million to US$1,100 million, as we will continue to operate in an efficient manner and pursue the highest standard of excellence.

3

Core Earnings Core earnings rose 63% to US$132 million, reflecting the strength of our after-tax earnings derived from our core operations. Total Assets Total assets were up by 9% to US$6,510 million. Current assets increased by 42% to US$1,649 million, mainly due to higher cash balance as a result of strong operating cash flows. Noncurrent assets increased by 1% to US$4,861 million. Total Liabilities Total liabilities increased 6% to US$2,695 million on the back of higher current liabilities and lower non-current liabilities. Current liabilities increased by 54% to US$665 million. Non-current liabilities declined by 3% to US$2,030 million essentially due to lower long-term bank loans as we made regular payments, enhancing our capital structure. As a result, our long-term bank loans decreased by 10% to US$1,202 million. Our balance sheet continued to improve over time with net debt to last 12 months operational EBITDA of 0.31x and net debt to equity of 0.08x. Current Maturity of Long-term Borrowings The current portion of long-term borrowings increased 29% to US$161 million, consisting of finance lease payables and bank loans. Long-term Borrowings, net of Current Maturity The non-current portion of long-term borrowings, largely consisting of long-term bank loans, fell by 10% to US$1,251 million as we continued to pay down debt. Debt Management and Liquidity We continued to pay off our debt and maintain a sufficient level of liquidity. We repaid US$31 million of bank loans during the period and reduced our net debt by 63% year-on-year to US$299 million as we generated a solid cash position demonstrating business sustainability from our vertically integrated business model. We have access to US$1,193 million of liquidity, consisting of US$1,113 million in cash and US$80 million in undrawn loan facilities. Our average debt repayment schedule from 2017 to 2019 is at a manageable level of around US$163 million per year. Cash Flows from Operating Activities Cash flows from operating activities increased 116% to US$230 million as a result of continued focus on efficiency and operational excellence on the back of higher average selling price. Cash Flows from Investing Activities We booked US$9 million in net cash flows used in investing activities, mostly for the purchased of fixed assets.

4

Capital Expenditure and Free Cash Flow Our capital expenditure during 1Q17 decreased 36% to US$9 million. We took a disciplined capital allocation framework to develop our three pillars of growth without compromising operational excellence. We remained in free cash flow positive of US$182 million driven by strong generation of operational EBITDA and efficient capital spending. Cash Flows from Financing Activities Net cash flow used in financing activities was US$186 million. We made total bank loan principal repayments of US$31 million, distributed US$61 million in cash dividend to shareholders, and paid US$83 million dividend to non-controlling interest. Dividend We continued to recognize the importance of shareholder returns along with the value creation through the cycle. At the Annual General Meeting of Shareholders on April 26, 2017 approved a total cash dividend for 2016 of US$101.1 million. This included an interim cash dividend of US$60.8 million paid on January 2017, and a final cash dividend of US$40.3 million to be paid on May 2017.

5

ADARO ENERGY (AE) QUARTERLY ACTIVITIES REPORT FOR 1Q17 REVIEW OF COAL MARKET The first quarter of 2017 was characterized by heavier rain than usual affecting coal production in Indonesia. This condition is also evident in AE’s operational performance with lower coal production volume y-o-y. Indonesian coal producers prioritized domestic market in the quarter resulting in tightness of Indonesian supply in the seaborne market. The strong domestic price in China prompted China’s government to continue the 330 working days policy. In spite of the supply relaxation in China, coal-fired power generation grew in 1Q17 which supported domestic coal price. This affected Global Coal Newcastle price which remained high and averaged US$81.5 per tonne in the first quarter of the year. At the time of print, JPU contract negotiations with the bigger coal producers are still on-going, which has supported global coal prices. Settlement of the JPU contract has been delayed as the major players, Glencore and Tohoku are still well apart on pricing. At the end of the first quarter, Cyclone Debbie hit the coast of Queensland, disrupting mining operations and infrastructures across the region and created support for metallurgical coal prices. Affected ports have started coming back and production in the region is expected to normalize. REVIEW OF AE’S OPERATIONS In the first quarter of the year, we produced 11.86 Mt of coal from PT Adaro Indonesia, PT Semesta Centramas, and Adaro MetCoal Companies (AMC), 6% lower compared to the same period last year due to high levels of rainfall which affected operation activities. Overburden removal increased by 2% y-o-y to 54.76 million bank cubic meter (Mbcm), resulting in a blended strip ratio of 4.62x. We sold 12.03 Mt of coal during the quarter, including 0.19 Mt of coal from AMC’s Haju mine. Sales of our E4900 product continued to dominate our sales portfolio and accounted for 56% of sales.

Coal Production Sales Volume Overburden Removal

Units

1Q17

1Q16

1Q17 vs. 1Q16

4Q16

1Q17 vs. 4Q16

Mt Mt

11.86 12.03

12.64 13.47

-6% -11%

13.31 13.64

-11% -12%

Mbcm

54.76

53.58

2%

59.35

-8%

In 1Q17, 30% of our sales went to Indonesia, in-line with our strategy to prioritize domestic market. Malaysia came second, as the country increased its coal-fired power generation capacity. Sales to India and China declined to 5% and 2%, respectively, due to priority allocation to Adaro’s premium customer, including domestic market. 6

Sales breakdown 1Q17

%

Indonesia Malaysia Korea Japan Hong Kong Taiwan India Philippines Spain China Others*

30% 15% 13% 12% 6% 6% 5% 3% 3% 2% 5%

Others include: USA, Vietnam, Singapore and The Netherlands

MINING ASSETS PT Adaro Indonesia (AI) In 1Q17, AI produced 10.93 Mt and sold 11.57 Mt of coal, 11% lower and 11% lower compared to 1Q16, respectively. Total overburden removal from AI’s three pits was 52.56 Mbcm, similar to 1Q16. AI’s strip ratio for the quarter was 4.81x. Our main operations at Adaro Indonesia were affected by longer rain days and higher rainfall volume which affected production activities from the concession. PT Semesta Centramas (SCM) and PT Laskar Semesta Alam (LSA) We produced 0.7 Mt of coal from SCM in the first quarter of 2017, 80% higher than in 1Q16. Overburden removal from SCM and LSA in 1Q17 was 1.02 Mbcm, 13% higher than in 1Q16 which resulted in a strip ratio of 1.46x. Adaro MetCoal Companies (AMC) Coal production continued from the Haju mine of PT Lahai Coal during the quarter. We produced 0.23 Mt and sold 0.19 Mt of coal. Overburden removal was 1.18 Mbcm, which resulted in a strip ratio of 5.13x. We have also carried out exploration activities at other concessions during the quarter, in-line with our capital expenditure plan for this year. MINING SERVICES & LOGISTICS PT Saptaindra Sejati (SIS) During the quarter, SIS booked a total coal production volume of 7.51 Mt and an overburden removal volume of 39.96 Mbcm, 24% and 2% higher y-o-y, respectively as volume from Adaro Group and third party customers increased. 7

Overburden removal and coal production volume from Adaro were 57% and 84% of SIS’s total volume in 1Q17, respectively. While SIS continues to prioritize Adaro, we expect SIS to continue to add more third-party volume.

Overburden Removal Coal Production

Units

1Q17

1Q16

1Q17 vs. 1Q16

4Q16

1Q17 vs. 4Q16

Mbcm

39.96

32.11

24%

43.57

-8%

Mt

7.51

7.10

6%

9.66

-22%

PT Maritim Barito Perkasa (MBP) In 1Q17, MBP total coal barging volume was 9.72 Mt, 30% higher than 1Q16. MBP continues to prioritize volume from Adaro, and Adaro’s coal volume accounted for 95% of MBP’s total coal barging volume in 1Q17, slightly higher than 1Q16.

Coal barging

Units

1Q17

1Q16

1Q17 vs. 1Q16

4Q16

1Q17 vs. 4Q16

Mt

9.72

7.47

30%

11.17

-13%

POWER Engineering, Procurement and Construction (EPC) activities at PT Bhimasena Power Indonesia (BPI) and PT Tanjung Power Indonesia (TPI) are progressing well. At the end of 1Q17, progress for BPI was at 23 % and 55% for TPI. QUALITY, HEALTH, SAFETY & ENVIRONMENT (QHSE) In the first quarter of 2017, there were two lost time injuries (LTI) at AE’s operations. Our lost time injury frequency rate (LTIFR) for the quarter was 0.085 and severity rate (SR) was 1.15. Total man-hours worked during the period were 23,559,926 hours.

8

CORPORATE ACTIVITIES Annual General Meeting of Shareholders (AGMS)

On April 26, 2017 AE held its AGMS in JW Marriott Hotel, Jakarta. Further detail on the AGMS is available on our website.

9

PT ADARO ENERGY Tbk DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES Lampiran 1/1 Schedule LAPORAN POSISI KEUANGAN KONSOLIDASIAN INTERIM 31 MARET 2017 DAN 31 DESEMBER 2016 (Dinyatakan dalam ribuan Dolar AS, kecuali nilai nominal dan data saham) Catatan/ Notes

INTERIM CONSOLIDATED STATEMENTS OF FINANCIAL POSITION AS AT 31 MARCH 2017 AND 31 DECEMBER 2016 (Expressed in thousands of US Dollars, except for par value and share data) 31 Maret/ March 2017

31 Desember/ December 2016

ASET ASET LANCAR Kas dan setara kas Deposito berjangka yang dibatasi penggunaannya - bagian lancar Piutang usaha Persediaan Pajak dibayar dimuka bagian lancar Pajak yang bisa dipulihkan kembali Piutang lain-lain Instrumen keuangan derivatif Uang muka dan biaya dibayar dimuka - bagian lancar Aset lancar lain-lain

ASSETS 1,112,657

1,076,948

6 7 9

35 330,254 76,185

34 300,689 73,417

33a

95,826

102,614

33b

10,974 4,135 668

10,489 4,399 3,954

17,892 543

19,287 884

Recoverable taxes Other receivables Derivative financial instruments Advances and prepayments current portion Other current assets

1,649,169

1,592,715

Total current assets

18 8

Total aset lancar ASET TIDAK LANCAR Deposito berjangka yang dibatasi penggunaannya bagian tidak lancar Investasi pada ventura bersama Uang muka dan biaya dibayar dimuka - bagian tidak lancar Pajak dibayar dimuka bagian tidak lancar Properti pertambangan Aset tetap Goodwill Aset pajak tangguhan Aset tidak lancar lain-lain

CURRENT ASSETS Cash and cash equivalents Restricted time deposits current portion Trade receivables Inventories Prepaid taxes current portion

5

NON-CURRENT ASSETS 6 11

5,661 41,193

3,084 46,675

8

31,695

37,497

37,328 2,416,897 1,496,949 793,610 9,034 28,900

37,940 2,436,565 1,544,187 793,610 3,766 26,218

Restricted time deposits non-current portion Investment in joint ventures Advances and prepayments non-current portion Prepaid taxes non-current portion Mining properties Fixed assets Goodwill Deferred tax assets Other non-current assets

Total aset tidak lancar

4,861,267

4,929,542

Total non-current assets

TOTAL ASET

6,510,436

6,522,257

TOTAL ASSETS

33a 12 10 13 33e

Catatan atas laporan keuangan konsolidasian interim terlampir merupakan bagian yang tidak terpisahkan dari laporan keuangan konsolidasian interim secara keseluruhan.

The accompanying notes to the interim consolidated financial statements form an integral part of these interim consolidated financial statements.




LIABILITAS DAN EKUITAS

LIABILITIES AND EQUITY

LIABILITAS LIABILITAS JANGKA PENDEK Utang usaha Utang dividen Beban yang masih harus dibayar Liabilitas imbalan kerja jangka pendek Utang pajak Utang royalti Bagian lancar atas pinjaman jangka panjang: - Utang sewa pembiayaan - Utang bank Utang lain-lain

LIABILITIES

16

228,219 28,997

207,794 70,927 28,969

33c 15

3,113 197,702 26,646

1,551 118,981 42,041

28,246 132,354 19,918

30,876 122,850 20,566

CURRENT LIABILITIES Trade payables Dividends payable Accrued expenses Short-term employee benefit liabilities Taxes payable Royalties payable Current maturity of long-term borrowings: Finance lease payables Bank loans Other liabilities

665,195

644,555

Total current liabilities

15,541

15,541

NON-CURRENT LIABILITIES Loans from a third party

14

19 20

Total liabilitas jangka pendek LIABILITAS JANGKA PANJANG Pinjaman dari pihak ketiga Pinjaman jangka panjang setelah dikurangi bagian yang akan jatuh tempo dalam satu tahun: - Utang sewa pembiayaan - Utang bank Liabilitas pajak tangguhan

17

19 20 33e

33,032 1,202,165 633,158

39,224 1,241,198 653,364

21

52,348

49,527

22

93,692

92,966

Long-term borrowings, net of current maturities: Finance lease payables Bank loans Deferred tax liabilities Post-employment benefits liabilities Provision for mine rehabilitation, reclamation and closure

Total liabilitas jangka panjang

2,029,936

2,091,820

Total non-current liabilities

TOTAL LIABILITAS

2,695,131

2,736,375

TOTAL LIABILITIES

Liabilitas imbalan pasca kerja Provisi rehabilitasi, reklamasi dan penutupan tambang






EKUITAS

EQUITY

Ekuitas yang diatribusikan kepada pemilik entitas induk Modal saham - modal dasar 80.000.000.000 lembar; ditempatkan dan disetor penuh 31.985.962.000 lembar dengan nilai nominal Rp100 per saham Tambahan modal disetor, neto

23 24

342,940 1,154,494

342,940 1,154,494

Selisih transaksi dengan pihak non-pengendali Saldo laba Penghasilan komprehensif lain

25 26 2i

7,135 1,721,881 7,340

7,135 1,627,609 14,280

Equity attributable to owners of the parent entity Share capital - authorised 80,000,000,000 shares; issued and fully paid 31,985,962,000 shares at par value of Rp100 per share Additional paid-in capital, net Difference in value from transaction with non-controlling interest Retained earnings Other comprehensive income

3,233,790

3,146,458

Total equity attributable to owners of the parent entity

581,515

639,424

Non-controlling interests

TOTAL EKUITAS

3,815,305

3,785,882

TOTAL EQUITY

TOTAL LIABILITAS DAN EKUITAS

6,510,436

6,522,257

TOTAL LIABILITIES AND EQUITY

Total ekuitas yang diatribusikan kepada pemilik entitas induk Kepentingan non-pengendali

28



PT ADARO ENERGY Tbk DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES Lampiran 2/1 Schedule LAPORAN LABA RUGI DAN PENGHASILAN KOMPREHENSIF LAIN KONSOLIDASIAN INTERIM UNTUK PERIODE TIGA BULAN YANG BERAKHIR PADA TANGGAL 31 MARET 2017 DAN 2016 (Dinyatakan dalam ribuan Dolar AS, kecuali laba bersih per saham dasar dan dilusian)

Catatan/ Notes

INTERIM CONSOLIDATED STATEMENTS OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME FOR THE THREE-MONTH PERIODS ENDED 31 MARCH 2017 AND 2016 (Expressed in thousands of US Dollars, except for basic and diluted earnings per share) 31 Maret/March 2017 2016

Pendapatan usaha

29

726,547

586,441

Beban pokok pendapatan

30

(508,961)

(432,362)

217,586

154,079

(43,072) 14,475

(41,388) 4,494

Operating expenses Other income, net

Laba usaha

188,989

117,185

Operating income

Biaya keuangan Pendapatan keuangan Bagian atas keuntungan/(rugi) neto entitas asosiasi dan ventura bersama

(12,749) 3,222

(12,466) 1,808

Laba bruto Beban usaha Pendapatan lain-lain, neto

31 32

2,083 (7,444)

Laba sebelum pajak penghasilan Beban pajak penghasilan

33d

Laba periode berjalan

Revenue Cost of revenue Gross profit

Finance costs Finance income

Share in net gain/(loss) of (869) associates and joint ventures (11,527)

181,545

105,658

(71,562)

(44,854)

Income tax expenses

109,983

60,804

Profit for the period

Profit before income tax

Penghasilan komprehensif lain periode berjalan:

Other comprehensive income for the period:

Pos-pos yang akan direklasifikasi ke laba rugi:

Items that may be subsequently reclassified to profit or loss: Exchange difference due to financial statements translation Share of other comprehensive income of joint ventures Effective portion of movement on hedging instruments designated as cash flows hedges Income tax relating to items that may be reclassified to profit or loss

Selisih kurs karena penjabaran laporan keuangan Bagian atas pendapatan komprehensif lain dari entitas ventura bersama Bagian efektif dari pergerakan instrumen lindung nilai dalam rangka lindung nilai arus kas Pajak penghasilan terkait pos-pos yang akan direklasifikasi ke laba rugi

18 33d

Total (rugi)/penghasilan komprehensif lain periode berjalan, setelah pajak Total penghasilan komprehensif periode berjalan


(996)

2,197

(6,568)

-

(1,542)

2,224

694

(8,412) 101,571

(1,001)

3,420

Total other comprehensive (loss)/ income for the period, net of tax

64,224

Total comprehensive income for the period


PT ADARO ENERGY Tbk DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES Lampiran 2/2 Schedule LAPORAN LABA RUGI DAN PENGHASILAN KOMPREHENSIF LAIN KONSOLIDASIAN INTERIM UNTUK PERIODE TIGA BULAN YANG BERAKHIR PADA TANGGAL 31 MARET 2017 DAN 2016 (Dinyatakan dalam ribuan Dolar AS, kecuali laba bersih per saham dasar dan dilusian)

Catatan/ Notes Laba periode berjalan yang dapat diatribusikan kepada: Pemilik entitas induk Kepentingan non-pengendali

INTERIM CONSOLIDATED STATEMENTS OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME FOR THE THREE-MONTH PERIODS ENDED 31 MARCH 2017 AND 2016 (Expressed in thousands of US Dollars, except for basic and diluted earnings per share) 31 Maret/March 2017 2016

28

Laba periode berjalan Total penghasilan komprehensif periode berjalan yang dapat diatribusikan kepada: Pemilik entitas induk Kepentingan non-pengendali

28

Total penghasilan komprehensif periode berjalan Laba bersih per saham - Dasar - Dilusian

97,135 12,848

59,687 1,117

Profit for the period attributable to: Owners of the parent entity Non-controlling interests

109,983

60,804

Profit for the period

87,332 14,239

62,871 1,353

Total comprehensive income for the period attributable to: Owners of the parent entity Non-controlling interests

101,571

64,224


0.00304 0.00283

0.00187 0.00174

Earnings per share Basic Diluted -

35



PT ADARO ENERGY Tbk DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES Lampiran 3 Schedule LAPORAN PERUBAHAN EKUITAS KONSOLIDASIAN INTERIM UNTUK PERIODE TIGA BULAN YANG BERAKHIR PADA TANGGAL 31 MARET 2017 DAN 2016 (Dinyatakan dalam ribuan Dolar AS)

Diatribusikan kepada pemilik entitas induk/Attributable to owners of the parent entity Penghasilan/(rugi) komprehensif lain/ Other comprehensive income/(loss) Bagian Selisih transaksi pendapatan dengan pihak komprehensif non-pengendali/ lain dari entitas Difference ventura bersama/ in value from Saldo laba/Retained earnings Translasi mata Lindung Share of other transaction with Belum uang asing/ nilai arus kas/ comprehensive non-controlling Dicadangkan/ dicadangkan/ Foreign currency Cash flow Income of joint interest Appropriated Unappropriated translation hedges venture

Tambahan modal disetor neto/ Additional paid-incapital, net

Modal saham/ Share capital

INTERIM CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY FOR THE THREE-MONTH PERIODS ENDED 31 MARCH 2017 AND 2016 (Expressed in thousands of US Dollars)

Saldo pada 1 Januari 2016

342,940

1,154,494

-

51,182

1,335,827

Total penghasilan komprehensif periode berjalan

-

-

-

-

59,687

Saldo pada 31 Maret 2016

342,940

1,154,494

-

51,182

Saldo pada 1 Januari 2017

342,940

1,154,494

7,135

52,707

2,865,888

487,155

3,353,043

Balance as at 1 January 2016

1,961

1,223

-

62,871

1,353

64,224


1,395,514

(16,594)

1,223

-

2,928,759

488,508

3,417,267

Balance as at 31 March 2016

1,574,902

(17,434)

1,179

30,535

3,146,458

639,424

3,785,882

Balance as at 1 January 2017

-

-

-

-

94,272

476

-

-

-

-

-

-

1,154,494

7,135

52,707

Total ekuitas/ Total equity

-

Dividen

342,940

Total

-

(18,555)

Total penghasilan komprehensif periode berjalan

Saldo pada 31 Maret 2017

Kepentingan non-pengendali/ Non-controlling interests

1,669,174


(16,958)

(848) 331

(6,568) 23,967

87,332 3,233,790

14,239 (72,148) 581,515

Total comprehensive income 101,571 for the period (72,148) 3,815,305


Dividend Balance as at 31 March 2017

PT ADARO ENERGY Tbk DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARIES Lampiran 4 Schedule LAPORAN ARUS KAS KONSOLIDASIAN INTERIM UNTUK PERIODE TIGA BULAN YANG BERAKHIR 31 MARET 2017 DAN 2016 (Dinyatakan dalam ribuan Dolar AS)

INTERIM CONSOLIDATED STATEMENTS OF CASH FLOWS FOR THREE-MONTH PERIODS ENDED 31 MARCH 2017 AND 2016 (Expressed in thousands of US Dollars)

31 Maret/March 2017 2016 Arus kas dari aktivitas operasi Penerimaan dari pelanggan Pembayaran kepada pemasok Pembayaran kepada karyawan Penerimaan pendapatan bunga Pembayaran royalti Pembayaran pajak penghasilan badan dan pajak penghasilan final Pembayaran pajak penjualan Penerimaan restitusi pajak penghasilan Pembayaran beban bunga dan keuangan Penerimaan/(pembayaran) lain-lain, neto

696,963 (308,682) (50,821) 3,222 (85,045)

523,455 (309,956) (37,800) 1,808 (53,375)

(24,841) (1,456) (11,615) 12,653

(12,232) 5,524 (10,844) (24)

230,378

106,556

Arus kas bersih yang diperoleh dari aktivitas operasi Arus kas dari aktivitas investasi Pembelian aset tetap Pembayaran atas penambahan properti pertambangan Hasil pelepasan aset tetap Arus kas bersih yang digunakan untuk aktivitas investasi Arus kas dari aktivitas pendanaan Penerimaan setoran modal dari kepentingan non-pengendali Pembayaran utang bank Pembayaran dividen kepada pemegang saham Perusahaan Pembayaran utang sewa pembiayaan Pembayaran dividen kepada kepentingan non-pengendali Transfer ke deposito berjangka yang dibatasi penggunaannya Arus kas bersih yang digunakan untuk aktivitas pendanaan

(2,512) 187

(3,458) 25

(9,090)

(13,698)

Cash flows from investing activities Purchase of fixed assets Payment for addition of mining properties Proceeds from disposal of fixed assets Net cash flows used in investing activities

(2,578)

(786)

(186,469)

(87,780)

Net cash flows used in financing activities

34,819

5,078

Net increase in cash and cash equivalents

1,076,948

702,452

Cash and cash equivalents at the beginning of the period

890

1,877

Effect of exchange rate changes on cash and cash equivalents

1,112,657

709,407

Cash and cash equivalents at the end of the period (Note 5)

134 (31,000)

(44,500)

(60,773) (8,822)

(35,185) (7,309)

(83,430)

Efek perubahan nilai kurs pada kas dan setara kas Kas dan setara kas pada akhir periode (Catatan 5)

(10,265)

Net cash flows provided from operating activities

Cash flows from financing activities Receipt of capital injection from non-controlling interests Repayments of bank loans Payments of dividends to the Company’s shareholders Payments of finance lease payables Payments of dividends to non-controlling interest Transfer to restricted cash in bank and time deposits

Kenaikan bersih kas dan setara kas Kas dan setara kas pada awal periode

(6,765)

Cash flows from operating activities Receipts from customers Payments to suppliers Payments to employees Receipts of finance income Payments of royalties Payments of corporate income taxes and final income tax Payments of sales tax Receipts of income tax refund Payments of interest and finance costs Other receipts, net

Lihat Catatan 37 untuk penyajian transaksi non-kas Grup.


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Refer to Note 37 for presentation of the Group’s non-cash transactions.


Adaro Energy Recorded Higher Earnings on the back of Higher Coal Prices and Continuous Efficiency across Its Operations

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