The decision follows a challenging price environment in 2025, where thermal coal markets faced pressure from ample global supply, higher output from major exporters, and weaker seasonal demand. Lie noted that coal is expected to remain part of the global energy mix as long-term energy demand continues to rise. As of the third quarter of 2025, AADI recorded coal sales of 52.69 million tons with a stripping ratio of 4.2 times, in line with its full-year 2025 target of 65–67 million tons and a stripping ratio guidance of around 4.3 times.
AADI maintained its dividend track record despite falling earnings by paying an interim dividend of $250 million, equivalent to approximately Rp 4.14 trillion, on November 27, 2025. This payout represented 42.56% of the company’s net profit for the first nine months of 2025, which stood at $587.32 million. The interim dividend was the company’s first such payout since its debut on the stock exchange on December 4, 2024. Based on financial reports as of September 2025, AADI had unrestricted retained earnings of $972.16 million and total equity of $3.79 billion.
Financial performance showed a contraction in profitability due to lower coal prices. AADI posted revenue of $3.6 billion through the third quarter of 2025, down 11% from the same period a year earlier. Net profit fell 44% year-on-year to $655 million. In the same period last year, the company had posted a net profit of $1.07 billion and total equity of $3.36 billion. Revenue contributions were dominated by coal sales to third parties at $3.31 billion and logistics services, with coal sales to related parties generating $136.95 million. Indonesia remained the largest market, followed by Malaysia, India, and China, with customers primarily consisting of coal-fired power plants.
The company’s share price has risen 3.65% since the start of 2025, closing at IDR 8,525 per share at the end of the second trading session on November 7. Over the past six months, the stock has surged 19.23%. AADI stated it continues to strengthen corporate governance, financial discipline, productivity improvements, and cost controls amid market volatility. One customer, TNB Fuel Services Sdn Bhd, accounted for more than 10% of total revenue, contributing $697,837. The company emphasized that it will continue to monitor market conditions as it navigates the remainder of the fiscal year.
