Adhi Karya’s 2024 performance: Debt Reduction and Leadership Stability

May 1, 2025

Key Takeaways from the Annual General Meeting

adhi Karya (ADHI) successfully reduced liabilities by 18.8%, equivalent to Rp 5.9 trillion. [[2]]
The company’s net profit increased by 18% compared to the previous year.
the board of directors will remain the same. [[1]]
Amendments were made to the use of funds from a limited public offering.

Financial performance Highlights

PT Adhi Karya (Persero) Tbk. has announced significant strides in it’s financial health following the 2024 Annual General Meeting of Shareholders (AGMS). The meeting, which approved the audited performance report for the fiscal year 2024, revealed a ample reduction in liabilities and an increase in net profit.

The company reported an 18.8% decrease in liabilities, amounting to Rp 5.9 trillion.[[2]] This reduction was primarily driven by:

Obligations to partners: Rp 2.1 trillion
Obligations to banks and other financial institutions/bonds: Rp 3.1 trillion

Furthermore, Adhi Karya experienced an 18% increase in net profit compared to the previous year. According to the company’s statement, this growth was fueled by two key factors:

2024’s net profit increased by 18.0% when compared to the previous year. This is caused by two things, the first is the gross profit margin that increased by 12.2% when compared to the previous year of 11.6%. secondly, JV’s profit growth from the previous year was 81.4%.

Strategic Adjustments in Fund Allocation

The AGMS also addressed amendments to the plan for utilizing funds from a limited public offering thru the addition of capital by giving the right to order effect II (“PMHmetd II”). These changes are aimed at optimizing the construction of a critical infrastructure project.

The company is re-evaluating how it uses its capital.

Changes in the use of funds to optimize the construction of the Solo-Yogyakarta-Kulon Progo toll road project that has been carried out by the study and review of the BPKP. The proposal of this change changes the essence of the use of funds from the results of public offers both in contributing to the economy and to the interests of the wider community.

Pro Tip: Strategic allocation of funds is crucial for infrastructure projects. Regular reviews and adjustments, like the one conducted by BPKP, ensure that resources are used efficiently and effectively, maximizing economic and community benefits.

Leadership Confirmation

A significant outcome of the AGMS was the confirmation of the company’s management structure. the composition of the Board of commissioners and directors remains unchanged,providing stability as Adhi Karya continues its strategic initiatives. [[1]]

The confirmed leadership is as follows:

Board of Commissioners:

President Commissioner: Dody Usodo Hargo
Independent Commissioner: R. Erwin Moeslimin Singajuru
Independent Commissioner: Elan Suherlan
Independent Commissioner: Rustam Sofyan Sirait
Commissioner: bob Arthur Lombogia

Directors:

president Director: Entus Asnawi Mukhson
Director of Human Capital and Legal: Ki Syahgolang Permata
Finance Director: Bani Iqbal
Operations Director I: Alloysius Suko Widigdo
Director of Operations II: Harimawan
Director of Operations III: Vera Kirana
Director of Risk Management and System: Yan Arianto

FAQ

What was the main outcome of the AGMS?: Approval of the 2024 audited performance report, showcasing a significant reduction in liabilities.
How much did Adhi Karya reduce its liabilities?: By 18.8%,equivalent to Rp 5.9 trillion.
What contributed to the increase in net profit?: Increased gross profit margin and JV’s profit growth.
Were there any changes to the leadership?: No, the composition of the Board of Commissioners and Directors remains the same. [[1]]