Astra International Posts Profit of IDR 7.4 T in Quarter I-2024, Down 14.3%

JAKARTA – PT Astra International Tbk (ASII) posted net profit worth IDR 7.46 trillion in the first quarter of 2024. This realization fell 14.3% year-on-year (yoy) compared to the same quarter last year which reached IDR 8.71 trillion.

As a result, ASII’s basic net profit per share fell to Rp. 184 per share, from Rp. 215 per share. Profit performance is also in line with a 2% decline in revenue which reached IDR 81.2 trillion.

Based on each division, a number of the company’s business line profits experienced corrections, such as the automotive business which was corrected by 9% to IDR 2.75 trillion, while heavy equipment, mining, construction and energy also shrank 15% to IDR 2.79 trillion.

However, profits from the financial services business division actually grew 12% to IDR 2.08 trillion, followed by the infrastructure and logistics segment growing 24% to IDR 251 billion. Next was agribusiness which made a profit of IDR 184 billion or an increase of 3%, then information technology grew 24% to reach IDR 251 billion, and property was maintained at IDR 45 billion.

President Director of PT Astra International Tbk (ASII) said the decline in Astra group performance in the first quarter reflected weakening economic conditions and a decline in coal prices from previous high price levels.

“Despite these challenges, the Group remains optimistic about economic growth in Indonesia. “Supported by a strong financial balance, the Group with its diversified business portfolio is in a good position to take advantage of long-term growth opportunities,” he explained, Monday (29/4/2024).

As of the end of March 2024, ASII’s net asset value per share was IDR 5,113, aka 4% higher than the position on 31 December 2023. Net cash, excluding the Group’s financial services subsidiaries, reached IDR 7.4 trillion on 31 March 2024, compared to IDR 29 billion at the end of 2023. Net debt of the Group’s financial services subsidiaries increased to IDR 54.3 trillion at 31 March 2024, compared to IDR 52.2 trillion at the end of 2023.

(nng)