Jakarta, CNBC Indonesia – PT Astra International Tbk (ASII) posted a net profit of IDR 6.859 trillion in the first quarter of 2022, an 84% increase compared to the same period last year of IDR 3.728 trillion.
The significant increase in net profit was supported by the increase in revenue. Net income was recorded at Rp 71.87 trillion in the first quarter of 2022, growing 39 percent from Rp 51.7 trillion in the first quarter of 2021.
Earnings per share also rose 84 percent to Rp 169 per share, from Rp 92 per share.
Djony Bunarto Tjondro, President Director of Astra International said the group posted a good performance in the first quarter of 2022, supported by the domestic economic recovery and higher commodity prices.
“The Group’s net profit increased 84% to Rp 6.9 trillion (rounded off), reflecting the better performance of all the Group’s businesses, in particular, the heavy equipment and mining divisions, automotive, financial services, and agribusiness,” he said in a press release, quoted Thursday (28/4/2022).
The net asset value per share as of March 31, 2022 was Rp 4,427, an increase of 4% compared to the position on December 31, 2021.
Net cash, excluding the Group’s financial services subsidiaries, was IDR 36.2 trillion as of March 31, 2022, compared to IDR 30.7 trillion at the end of 2021.
The net debt of the Group’s financial services subsidiaries increased slightly from Rp 39.2 trillion at the end of 2021 to Rp 39.3 trillion as of March 31, 2022.
In detail, the Group’s automotive division net profit increased 56% to Rp 2.2 trillion, reflecting an increase in sales volume.
Meanwhile, lnet income of the Group’s financial services division increased 50% to Rp 1.5 trillion in the first quarter of 2022 compared to the first quarter of 2021, mainly due to an increase in the contribution of the consumer finance business.
Next, lThe Group’s net income from heavy equipment, mining, construction and energy divisions increased 138% to Rp 2.6 trillion, due to higher contributions from sales of heavy equipment, mining contractors and coal mining.
Net income from the Group’s agribusiness division increased 198% to Rp 385 billion.
Then, dThe Group’s infrastructure and logistics division recorded an 181% increase in net profit to Rp 118 billion, due to better toll road business performance.
The Group’s information technology division, represented by PT Astra Graphia Tbk (AG), which is 76.9% owned by the Company, posted a net profit of Rp 12 billion, compared to Rp 1 billion in the first quarter of the previous year, mainly due to an increase in operating margins.
Lastly, net profit from the Group’s property division increased by 8% to Rp 53 billion, mainly due to higher profit recognition from Asya Residences.
“Although the pandemic situation has improved, the Group is expected to continue to face uncertainty from COVID-19 and other external challenges. However, supported by its strong financial position, the Group is well positioned to seek new business opportunities to drive long-term sustainable growth. “said Djony.
(vap/vap)
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