PT AKR Corporindo Tbk (AKRA) Q3 2024 earnings summary

Executive summary

• Revenue for the nine months ended September 30, 2024, was Rp28.6 trillion, down 4.6% year-over-year, mainly due to lower petroleum and chemical sales volumes.

• Net profit attributable to owners was Rp1.47 trillion, a 14% decrease compared to the same period last year.

• Gross profit margin declined to 8.2% from 9.6% year-over-year, reflecting margin pressure in core segments.

• The company maintained a strong cash position with cash and equivalents of Rp4.65 trillion at period end.

• Interim and final dividends totaling Rp2.96 trillion were declared and paid in 2024.

Financial highlights

• Revenue: Rp28.6 trillion for 9M24, down from Rp30.0 trillion in 9M23.

• Net profit: Rp1.55 trillion for 9M24, down from Rp1.81 trillion in 9M23.

• Basic EPS: Rp74.39, compared to Rp86.65 in 9M23.

• Total assets: Rp29.78 trillion as of September 30, 2024, slightly down from Rp30.25 trillion at year-end 2023.

• Total equity: Rp13.62 trillion, down from Rp14.04 trillion at year-end 2023.

Outlook and guidance

• Management continues to monitor market volatility in petroleum and chemical prices and expects ongoing margin pressure.

• The company is focused on maintaining healthy capital ratios and liquidity, with ongoing investments in industrial estate and logistics infrastructure.

• No formal quantitative guidance was provided for full-year 2024.