PT Astra International Tbk (ASII), the Indonesian conglomerate, has announced its remarkable financial performance for the third quarter of 2023. The company reported a net profit of Rp25.69 trillion, marking a significant 10% year-on-year (YoY) growth compared to the Rp23.33 trillion posted during the same period in 2022.
Djony Bunarto Tjondro, President Director of ASII, commented on the results, stating, “The Group’s net profit, excluding the fair value adjustments for investments in GoTo and Hermina, reached Rp26.1 trillion, reflecting a remarkable 17% YoY increase over the same period last year.
Astra International’s third-quarter net profit of Rp25.69 trillion reflects a 10% YoY increase, showcasing the company’s resilience and strategic strength. The net profit of the Astra Group, without considering the fair value adjustments for investments in GoTo and Hermina, achieved an even more impressive 17% YoY growth, reaching Rp26.1 trillion.
ASII’s net revenue increased by 9% YoY, reaching Rp240.91 trillion in the third quarter of 2023, compared to Rp221.35 trillion in the same period of 2022. The company’s net revenue came from various segments, including automotive (Rp99.16 trillion), heavy equipment, mining, construction, and energy (Rp97.59 trillion), and financial services (Rp21.98 trillion), among others.
Astra International’s expenses included gross income expenses of Rp187.32 trillion, sales expenses of Rp8.34 trillion, general and administrative expenses of Rp12.80 trillion, and financial costs of Rp2.06 trillion.
ASII’s President Director expressed confidence in the group’s ability to remain resilient in the face of global economic uncertainty, forecasting a strong performance with moderate growth in the final quarter.
As of September 30, 2023, Astra International had a net cash position (excluding financial services subsidiaries) of Rp14.6 trillion, compared to Rp35.1 trillion at the end of 2022. Meanwhile, the net debt of the financial services subsidiaries amounted to Rp50.4 trillion as of September 30, 2023, up from Rp44.5 trillion at the end of 2022.
As of the third quarter of 2023, the company’s equity was valued at Rp238.96 trillion, with liabilities at Rp204.00 trillion, resulting in total assets for ASII amounting to Rp442.97 trillion. Astra International’s outstanding financial results in Q3 2023 highlight the company’s strength and resilience in the face of a complex global economic landscape.
