PT AKR Corporindo Tbk (AKRA) Q4 2024 earnings summary

Executive summary

• Revenue for 2023 reached Rp42.09 trillion, down 11.5% year-over-year, with net profit rising 24.2% to Rp3.08 trillion and EBITDA up 14.4% to Rp4.05 trillion.

• Gross profit increased 5.2% to Rp4.47 trillion, while operating profit rose 15.3% to Rp3.56 trillion compared to 2022.

• The company maintained a strong financial position, with total assets at Rp30.25 trillion and equity at Rp14.04 trillion as of December 31, 2023.

• The Board declared interim and final dividends totaling Rp1.48 trillion for 2023, and continued prudent capital management.

Financial highlights

• Revenue: Rp42.09 trillion (2023), down from Rp47.54 trillion (2022).

• Net profit: Rp3.08 trillion, up from Rp2.48 trillion year-over-year.

• EBITDA: Rp4.05 trillion, up from Rp3.54 trillion year-over-year.

• Earnings per share: Rp140.87, up from Rp121.77 year-over-year.

• Total assets: Rp30.25 trillion; total equity: Rp14.04 trillion.

Outlook and guidance

• Management continues to focus on maintaining healthy capital ratios and prudent risk management.

• The company is expanding its industrial estate and utility services, with new joint ventures and infrastructure investments planned.

• PEFINDO reaffirmed the company’s bond rating at idAA with a stable outlook as of March 2024.