Adi Sarana Armada, Owned By Conglomerate TP Rachmat, Earns IDR 1.54 Trillion In Revenue And IDR 72.99 Billion In Profit In The First Quarter Of 2022

Photo: Doc. Adi Sarana Fleet

JAKARTA - The transportation and logistics company belonging to the conglomerate TP Rachmat, PT Adi Sarana Armada Tbk (ASSA) recorded significant performance growth in the first quarter of 2022.

In ASSA's consolidated financial statements (continued) as of the first quarter of 2022, quoted on Friday 27 May, the company managed to reap a profit for the year attributable to owners of the parent entity by 123.48 percent to Rp72.99 billion from Rp32.66 billion in the same period. same the previous year.

The increase in ASSA's profit was in line with the increase in revenue by 59.50 percent to Rp. 1.54 trillion in the first quarter of this year when compared to the same period in the previous year of Rp. 963.17 billion.

The increase in revenue occurred in almost all of the issuer's business activities, ranging from delivery services, rental of passenger cars and autopools, sales of used vehicles, as well as logistics services.

The revenue with the most significant increase as well as providing the most contribution to the company in this quarter came from shipping services from IDR 391.54 billion in the first quarter of 2021 to IDR 899.05 billion.

On the other hand, the decline in revenue actually occurred in the rental of helmsman from IDR 80.14 billion to IDR 71.61 billion, and auction services from IDR 44.39 billion to IDR 32.32 billion. In addition to the company's increased revenue, ASSA was also able to reduce selling expenses from IDR 6.03 billion in the first quarter of 2021 to IDR 3.97 billion in the first quarter of 2022, thereby contributing to the increase in the company's profit.

Then financial expenses also decreased to Rp53.79 billion in the first quarter of 2022, while in the same period in the previous year it was recorded at Rp59.46 billion. The transportation issuer, which has been listed on the stock exchange board since 2012, also recorded an increase in the company's total assets in this quarter to Rp7.23 trillion compared to the end of 2021 recording of Rp6.03 trillion.

Total equity and liabilities also recorded an increase to Rp2.49 trillion and Rp4.74 trillion, respectively.