PT Alam Sutera Realty (ASRI) Q3 2024 earnings summary

Executive summary

• Revenue for the nine months ended 30 September 2024 reached Rp 2.52 trillion, up slightly from Rp 2.49 trillion year-over-year.

• Net profit for the period was Rp 21.98 billion, a sharp decline from Rp 212.28 billion in the same period last year.

• The company fully repaid its remaining USD 237.2 million Senior Secured Notes in July 2024, reducing bond liabilities to zero.

• Major business segments include real estate development, investment properties, and tourism, with real estate contributing the largest share of revenue.

Financial highlights

• Gross profit for the nine months was Rp 1.31 trillion, down from Rp 1.33 trillion year-over-year.

• Operating cash flow was Rp 508.75 billion, a decrease from Rp 848.21 billion in the prior year.

• Total assets as of 30 September 2024 stood at Rp 21.77 trillion, down from Rp 22.24 trillion at year-end 2023.

• Total liabilities decreased to Rp 10.47 trillion from Rp 10.97 trillion at year-end 2023.

• Equity increased slightly to Rp 11.29 trillion from Rp 11.27 trillion at year-end 2023.

Outlook and guidance

• The company continues to focus on real estate development, investment properties, and tourism, with ongoing projects in Serpong, Tangerang, Jakarta, Depok, and Bali.

• Management is monitoring market conditions and adjusting capital structure to optimize debt costs and support business performance.