PT Astra International (ASII) Q4 2024 earnings summary

Executive summary

• Net income for 2024 was Rp34.2 trillion before fair value adjustments, up 1% year-over-year, while consolidated profit for the year was Rp43,424 billion, a slight decrease from Rp44,501 billion in 2023, with resilient results driven by strong financial services, infrastructure, and motorcycles, offsetting weaker car and coal mining segments.

• Consolidated net revenue reached Rp330.9 trillion, up 5% year-over-year.

• Maintained a diversified portfolio, expanding into healthcare and renewables, and launching new automotive and medical device products.

• Total assets grew to Rp472.9 trillion and equity to Rp271.5 trillion.

• Financial statements prepared in accordance with Indonesian standards and internal controls.

Financial highlights

• Gross profit was Rp73,557 billion, nearly flat year-over-year, with gross margin stable at 22.2%.

• Operating cash flow improved to Rp45.0 trillion from Rp33.7 trillion.

• Net cash (excluding financial services) at year-end was Rp8.0 trillion, up from Rp29 billion.

• Net debt in financial services subsidiaries rose to Rp60.2 trillion, while consolidated net debt stood at Rp52,234 billion.

• Earnings per share rose to Rp845, excluding fair value adjustments; reported EPS was Rp841.

Outlook and guidance

• Focus on long-term growth through portfolio diversification, especially in healthcare and renewables.

• Continued emphasis on cost efficiency and high-quality service delivery in healthcare.

• Management is assessing the impact of new tax regulations (PMK-136) effective in 2025.