Jardine Cycle & Carriage (C07) Q3 2024 TU earnings summary

Executive summary

• Group results for the first nine months of 2024 were slightly down year-over-year.

• Portfolio includes leading businesses in Indonesia and Vietnam, with additional regional interests.

Financial highlights

• Astra's underlying profit increased, but contribution was reduced by a weaker Indonesian Rupiah.

• Tunas Ridean experienced lower automotive sales volume and profits.

• Cycle & Carriage in Singapore achieved higher sales volume and margins, but overall profit was impacted by lower used car operations.

Outlook and guidance

• Momentum in underlying performance is expected to be maintained for the remainder of the year.

• Confidence remains in the portfolio's ability to deliver long-term growth.