TIDMJAR
RNS Number : 5887Q
Jardine Matheson Hldgs Ltd
28 October 2021
Draft RNS
To: Business Editor 28th October 2021
For immediate release
PT Astra International Tbk
2021 Third Quarter Financial Statements
The following announcement was issued today by the Company's
75%-owned subsidiary, Jardine Cycle & Carriage Limited, which
holds 50.1% of PT Astra International Tbk.
For further information, please contact:
Jardine Matheson Limited
Jonathan Lloyd (852) 2843 8223
Brunswick Group Limited
Ben Fry (65) 9017 9886
28th October 2021
PT ASTRA INTERNATIONAL TBK ("the Company" or "Astra")
2021 THIRD QUARTER FINANCIAL STATEMENTS
Highlights
-- Net earnings per share up 84% (excluding gain on sale of investment in Permata Bank)
-- Significant improvement in automotive, with car sales up 79 %
and motorcycle sales up 26 %
-- Higher commodity price s benefited the Group
-- Strong balance sheet and funding position
"The Group's overall performance improved in the first nine
months of 2021, supported by strong automotive sales volumes and
higher commodity prices. Although there are uncertainties with the
ongoing macroeconomic environment due to impact of the pandemic,
the Group's strong performance gives us optimism for the remainder
of the year. In addition, the Group's balance sheet position
remains healthy and solid."
Djony Bunarto Tjondro
President Director
Astra group ("Group") Results
For the period ended 30th September
2021 20 20 Change
Rp bn Rp bn %
--------------------- -------------------- -------
Net revenue 167,402 130,349 28
--------------------- -------------------- -------
Net income (excluding
gain on sale of investment
in Permata Bank) 14,977 8,158 84
--------------------- -------------------- -------
Net income 14,977 14,039 7
--------------------- -------------------- -------
Rp Rp
--------------------- -------------------- -------
Net earnings per share
(excluding gain on
sale of investment
in Permata Bank) 370 202 84
--------------------- -------------------- -------
Net earnings per share 370 347 7
--------------------- -------------------- -------
As at 30th September As at 31st December Change
2021 2020 %
Rp bn Rp bn
--------------------- -------------------- -------
Shareholders' funds 166,540 155,662 7
--------------------- -------------------- -------
Rp Rp
--------------------- -------------------- -------
Net asset value per
share 4,114 3,845 7
--------------------- -------------------- -------
The financial results for the nine months ended 30th September
2021 and 2020, as well as the financial position as at 30th
September 2021, have been prepared in accordance with Indonesian
Financial Accounting Standards and are unaudited. The financial
position as at 31st December 2020 has been prepared in accordance
with Indonesian Financial Accounting Standards and audited in
accordance with the auditing standards established by the
Indonesian Institute of Certified Public Accountants.
PRESIDENT DIRECTOR'S STATEMENT
Performance
The Group's consolidated net revenue for the first nine months
of 2021 was Rp167.4 trillion, an increase of 28 % compared with the
same period last year. Net income was Rp15.0 trillion, 7 % higher
than the first nine months of 2020, when the Group benefited from
the gain on the sale of its investment in Permata Bank. Excluding
this one-off gain, the G roup's net income showed an 84 %
improvement , with better performances from all its business
divisions .
The net asset value per share at 30th September 2021 was Rp
4,114 , 7% higher than the net asset value per share at 31st
December 2020.
Net cash, excluding the Group's financial services subsidiaries,
was Rp25.5 trillion at 30th September 2021, compared with Rp7.3
trillion at the end of 2020, due to an improved trading
performance, together with relatively low capital expenditure
realisation and working capital. However, if trading volumes
continue to improve in the remainder of the year, both capital
expenditure and working capital could increase. The net debt of the
Group's financial services subsidiaries slightly increased from
Rp39.2 trillion at the end of 2020 to Rp39.3 trillion at 30 th
September 2021.
Business Activities
The Group's net income was higher in the first nine months of
2021 compared to that of the same period last year. Net income by
division was as follows:
Net Income Attributable to Astra
International
For the period ended 30th September
----------------------------------------
2021 20 20 Change
Rp bn Rp bn %
------------ ------------ ------------
Automotive 5,515 1,796 207
------------ ------------ ------------
Financial Services 3,384 2,759 23
------------ ------------ ------------
Heavy Equipment, Mining, Construction
and Energy 4,650 3,086 51
------------ ------------ ------------
Agribusiness 1,171 464 152
------------ ------------ ------------
Infrastructure and Logistics 98 (59) N/A
------------ ------------ ------------
Information Technology 28 26 8
------------ ------------ ------------
Property 131 86 52
------------ ------------ ------------
Attributable net income (excluding
gain on sale of investment in
Permata Bank) 14,977 8,158 84
------------ ------------ ------------
Gain on sale of investment in - 5,881 N/A
Permata Bank
------------ ------------ ------------
Attributable Net Income 14,977 14,039 7
------------ ------------ ------------
Automotive
Net income from the Group's automotive division increased by 207
% to Rp5.5 trillion, mainly due to the significant adverse impact
on performance in the second quarter of last year from the pandemic
and related containment measures, as well as an increase in sales
volume in the first nine months of this year, especially in the car
segment which benefited from temporary luxury sales tax incentives
. Key points were as follows:
-- The wholesale market for cars increased by 69% to 628 ,000
units in the first nine months of 2021 (source: Gaikindo). Astra's
car sales for that period were 79% higher at 344,000 units, with
market share increas ing from 52% to 55% . 10 new models and 16
revamped models were launched in the first nine months of 2021.
-- The wholesale market for motorcycles increased by 31 % to 3.8
million units in the first nine months of 2021 (source: Ministry of
Industry). Astra Honda Motor's sales increased by 26 % to 2.9
million units. Four new models and 14 revamped models were launched
in the first nine months of 2021.
-- The Group's 80%-owned components business, Astra Otoparts,
reported a net income of Rp446 billion, compared to a net loss of
Rp243 billion in the equivalent period last year , mainly due to
higher revenues from the original equipment manufacturer,
replacement market and export segments .
Financial Services
Net income from the Group's financial services division
increased by 23% to Rp 3.4 trillion in the first nine months of
2021, primarily due to higher contribution from the consumer
finance and general insurance businesses. Key points were as
follows:
-- The Group's consumer finance businesses saw a 20% increase in
new amounts financed to Rp 60.7 trillion. The net income
contribution from the Group's car-focused finance companies
increased by 41 % to Rp 940 billion, while the net income
contribution from its motorcycle-focused business, Federal
International Finance, increased by 38 % to Rp 1.6 trillion. Both
increases were mainly due to lower loan loss provisioning.
-- The Group's heavy equipment-focused finance business saw a
68% increase in new amounts financed to Rp 4.5 trillion. The net
income contribution from this segment increased by 32% to Rp49
billion.
-- General insurance company Asuransi Astra Buana reported a 9 %
increase in net income to Rp 853 billion, mainly due to higher
investment income . The Group's life insurance company, Astra Life,
recorded a 58% increase in gross written premiums to Rp4.0
trillion.
Heavy Equipment, Mining, Construction and Energy
Net income from the Group's heavy equipment, mining,
construction and energy division increased by 51% to Rp 4.7
trillion, due to higher Komatsu heavy equipment sales and improved
coal prices . Key points were as follows:
-- 59.5%-owned United Tractors reported a 46% increase in net income to Rp7.8 trillion.
-- Komatsu heavy equipment sales rose 84 % to 2,194 units, while
parts and service revenues were also higher.
-- Mining services contractor Pamapersada Nusantara recorded
slightly lower overburden removal volume at 630 million bank cubic
metres and a 2% higher coal production at 87 million tonnes.
-- United Tractors' coal mining subsidiaries achieved 8 % higher
coal sales at 7.7 million tonnes, including 1.9 million tonnes of
metallurgical coal.
-- Agincourt Resources, 95%-owned by United Tractors, reported a
slight increase in gold sales at 258 , 000 oz .
-- General contractor Acset Indonusa, 82.2%-owned by United
Tractors, reported a net loss of Rp 386 billion , mainly due to the
slowdown of several ongoing projects and reduced construction
project opportunities during the pandemic.
-- In August 2021, Acset Indonusa raised Rp1.5 trillion from a
new equity issue, to reduce debt and to strengthen its capital
structure. Following the new equity issue, United Tractors'
ownership in Acset Indonusa increased from 64.8% to 82.2%.
Agribusiness
Net income from the Group's agribusiness division increased by
152% to Rp1.2 trillion, mainly due to improved crude palm oil price
s. Key points were as follows:
-- The net income of 79.7%-owned Astra Agro Lestari increased by 152 % to Rp 1.5 trillion.
-- Crude palm oil prices rose by 31 % to Rp 10,699 /kg.
-- Crude palm oil and derivative product sales were relatively stable at 1.5 million tonnes.
Infras tru cture and Logistics
The Group's infrastructure and logistics division reported a net
income of Rp98 billion, compared with a net loss of Rp59 billion in
the first nine months of 2020, due to improved performance in its
toll road and Serasi Autoraya businesses . Key points were as
follows:
-- The Group's toll road concessions saw 26 % higher toll revenue.
-- Astra has interests in 358km of operational toll roads along
the Trans-Java network and in the Jakarta Outer Ring Road.
-- Serasi Autoraya's net income increased by 77% to Rp115
billion, mainly due to improved operating margin and a 2% increase
in the number of vehicles under contract to 23,500 units, despite
lower used car sales.
Information Technology
Net income from the Group's information technology division,
76.9%-owned Astra Graphia, was 8 % higher at Rp28 billion,
primarily due to lower operational cost and higher interest income,
despite lower revenue from the document solution and office service
businesses.
Property
Net income from the Group's property division increased by 52 %
to Rp 131 billion in the first nine months of 2021, mainly due to
higher occupancy and lower operational costs at Menara Astra.
Prospects
The Group's overall performance improved in the first nine
months of 2021, supported by strong automotive sales volumes and
higher commodity prices. Although there are uncertainties with the
ongoing macroeconomic environment due to impact of the pandemic,
the Group's strong performance gives us optimism for the remainder
of the year. In addition, the Group's balance sheet position
remains healthy and solid.
Djony Bunarto Tjondro
President Director
28th October 2021
For further information, please contact:
PT Astra International Tbk
Riza Deliansyah, Chief of Corporate Affairs
Tel: +62 - 21 - 5084 3888
- end -
About Astra
PT Astra International Tbk was established in 1957 in Jakarta as
a general trading company under the name Astra International Inc.
In 1990, for the purpose of the company's initial public offering,
the name of the company changed to PT Astra International Tbk,
followed by listing its shares on the Indonesia Stock Exchange
under the ticker code ASII.
Astra has developed its business by implementing a business
model based on synergies and diversification within seven business
segments, consisting of: 1) Automotive, 2) Financial Services, 3)
Heavy Equipment, Mining, Construction & Energy, 4)
Agribusiness, 5) Infrastructure and Logistics, 6) Information
Technology and 7) Property.
Astra Group conducts business operations in all parts of
Indonesia under the management of more than 241 companies,
including subsidiaries, joint ventures and associate companies, and
is supported by more than 186,200 employees, as of September
2021.
As one of the largest national business groups today, Astra has
built a strong reputation through offering a range of quality
products and services, taking into account the implementation of
good corporate governance and environmental governance. Astra
always aspires to be the pride of the nation that participates in
efforts to improve the welfare of the Indonesian people.
Therefore, Astra's business activities strive to apply a
balanced mix in the commercial aspects of business and non-business
contributions through 9 foundations and a variety of sustainable
social responsibility programmes Astra Untuk Indonesia Sehat ,
Astra Untuk Indonesia Cerdas, Astra Untuk Indonesia Hijau and Astra
Untuk Indonesia Kreatif .
Astra initiated the Semangat Astra Terpadu Untuk (SATU)
Indonesia Awards programme, which has entered the twelfth year, and
has given recognition awards to 493 young Indonesians, consisting
of 81 national level recipients and 412 provincial level recipients
in the fields of Health, Education, the Environment,
Entrepreneurship and Technology, which are integrated with Astra's
wide range of community activities through 133 Kampung Berseri
Astra and 930 Desa Sejahtera Astra initiated in 34 provinces
throughout Indonesia.
For further information, please visit www.astra.co.id &
www.satu-indonesia.com , and follow Astra through Instagram
(@SATU_Indonesia), Youtube (SATU Indonesia), Facebook (Semangat
Astra Terpadu) and Twitter (@SATU_Indonesia).
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
MSCPPGPAUUPGUBR
(END) Dow Jones Newswires
October 28, 2021 05:58 ET (09:58 GMT)
Jardine Matheson Holding... (LSE:JARB)
Gráfica de Acción Histórica
De Feb 2024 a Mar 2024
Jardine Matheson Holding... (LSE:JARB)
Gráfica de Acción Histórica
De Mar 2023 a Mar 2024