PT Astra International Tbk
and its subsidiary companies announced today that company’s performance in
quarter I 2014 was showing progress compared to same period of 2013.
Astra’s net profit of March
2014 came to Rp49.8 trillion, an increase of 7% against same period of 2013.
Meanwhile net profit was posted at Rp4.7 trillion, an increase of 10% against
the revious Rp4.3 trillion. Net profit per share was 10% to become Rp117 per
share.
Net value of Astra’s asset
was Rp2,197 per share on March 31, 2014, posting increase of 6% against 2013 at
Rp2,073. Price competition in the automotive market had reduced Astra’s income
in spite of increased sales by volume. Meanwhile performance in the
agri-business sector was posting increase due to increase CPO price, while the
mining sector Astra managed to increase production volume of coal.
“We predicted increasing competition
in the automotive market and low price of coal would continue through 2014,”
President Director of PT Astra International Tbk Prijono Sugiarto disclosed in
his presse release to BusinessNews on Monday [28/4] night.
Activities of the Astra
group was focused on 6 core business, i.e. automotive, financial service, heavy
equipments and minery, agro business infrastructure and logistics, and IT
business specified as follows:
The Automotive Division
Net profit of the
Automotive Division dropped by 5% to become Rp2 trillion. In spite of high
demand for automotive through quarter I of 2014 discount was in the automotive
market had its effect on Astra’s net profit. Contribution of net profit by the
component group was also posting downturn, following reduced share ownership of
Astra Otoparts from 95.7% to 80% in quarter 2 2013.
Total national automotive
sales increased by 11% to 329,000 units. Total car sales of Astra Group:
Toyota, Daihatsu, Isuzu, UD trucks and Peugeot posted increase of 173,000
units, with market share increasing by 52% to 53% in 2013. Through quarter
I/2014 Astra launched 4 new models and 5 facelift models.
Meanwhile national
motorcycle sales increased by 1% to become 2 million units. Sales of Honda
motorcycles produced by PT AHM increased by 4% to become 1.3 million units with
increased market share from 62% to 63%. Through quarter I/2014 AHM launched 7
facelift models. PT Astra Otopars Tbk [AOP] a producer of car components posted
increase of sales volume although net profit was posting downturn to Rp266
billion – the reduced net profit was on account of downturn in manufacturing
margin.
Financial Service Division
Net profit of the Financial
Service Division posted downturn of 5% to become Rp981 billion. High growth
from portofolio of the financial service, including therein Federal International
Finance, PermataBank and Astra Credit Companies was slightly reduced due to low
performance of Asuransi Astra Buana.
Total financing through
Astra Automotive Financing Agency increased by 11% to Rp15 trillion, including
through joint financing resources. Meanwhile total credit extended through
financing of heavy equipment posted downturn of 29% to become Rp0.9 trillion
due to downturn of sales of heavy equipments. PT bank Permata Tbk whose 44.56%
of shares was owned by the company, booked net profit of Rp367 billion, an
increase of 3%.
PT Asuransi Astra Buana
[AAB], a subsidiary company in insurance posted downturn of net profit. High
growth of gross premium income was suppressed by lessened contribution from
investment income due to profit in quarter I/ 2013 orginating from sales of
Reksadana.
Heavy Equipment and Minery
Division
Net profit of Heavy
Equipment and Minery Division increased by 39% to become Rp959 billion. PT
United Tractors Tbk [UT] whose 59.5% of shares was owned by the company
reported net income of 12% and net profit of 40% to become Rp1.6 trillion.
Net profit of construction
machines segment rose by 6% caused by increase of income from spareparts and
after sales service in spite of downturn in sales of Komatsu heavy equipment
amounting to 5% to become 1,211 units.
PT Pamapersada Nusantara
[PAMA], subsidiary company of UT in coal mining contractor was advantaged by
increased volume of coal. PAMA posted income increase of 14% as contract in
coal production increased by 28% to become 31 million tons, with overburden
removal flat at 201 million tons.
UT’s subsidiary company in
mining reported increase of net income of 20% caused by increase of coal sales
at 36% i.e. 1.6 million tons in spite of downturn in coal sales by 9%. Increase
of fuel cost also reduced gross profit margin. United Tractors and their
subsidiary companies possessed 9 coal mines with total coal reserves of 409
million tons.
The Agro-Business Division
Net profit of the Agro
business division increased by 120% to become Rp625 billion. PT Astra Agro
Lestari Tbk [AAL] whose 79.7% shares were owned by the company, reported
increase of net profit by 120% to become Rp785 billion. Average CPO price
increased by Rp8,949 kg, while sales of CPO posted downturn of 18% to become
314,000 tons, as CPO factory in West Sulawesi started operations.
Infra Structure and
Logistics Division
Net profit of the Infra
Structure and Logistics Division dropped by 30% to become Rp87 billion. PT
Marga Mandala Sakti [MMS] a toll road operator managing Tangerang-Merak section
of 72.km long, whose 73.3% of shares was owned by the company, posted increased
of traffic flow by 4% to become 10 million vehicles with tariff increase of
14%.
The Kertosono-Mojokerto
toll road section of 40.5 km long whose 95% of shares was owned by Astra was
being acquired by end of 2011 and was in the process of construction and was
due for completion by end of 2014, awaiting for land clearing procedure. Together with Kunciran-Serpong of 11.2 km
long whose 40% of shares was owned by Astratel, total toll road owned by Astra
was 124.2 km.
PT Serasi Autoraya [SERA]
was posting increase of income, although the total contract of car rental in
rental business of TRAC slumped by 5% to become 30,000 units. However the
increase was suppressed by operational cost so net profit dropped by 32% to
become Rp40 billion.
Technology and Information
Division
Net profit of Technology
and Information Division rose by 26% to become Rp26 billion. PT Astra Graphia
Tbk [AG] as a company specializing in IT business and sole agent of Fuji Xerox
Indonesia, whose 76.9% of shares was owned by the company, posted net profit of
Rp33 billion, an increase of 26%. (SS)
Business New - May 2, 2014
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