Sales Of Cars And Growing Motors, Conglomerate-Owned Automotive Component Manufacturer TP Rachmat Optimistic Capai Target Sales And Profits

Photo: Doc. Dharma Polimetal

JAKARTA - PT Dharma Polimetal Tbk (DRMA) is optimistic that it will achieve its sales target this year, it will grow by 20 percent. Meanwhile, net profit can shoot up 50 percent, when compared to net profit in 2021 after deducting the profit of selling Balaraja land.

The optimism of automotive component manufacturing issuer owned by conglomerate Theodore Permadi Rachmat is supported by demand for automotive components that continue to grow until the end of 2022.

In the January-September period this year, the company posted a net profit attributable to owners of the parent entity of IDR 249.94 billion in the third quarter of 2022, a 70 percent jump from IDR 146.94 billion in the same period the previous year. Meanwhile, the company's sales increased 28 percent yoy to IDR 2.66 trillion from IDR 2.08 trillion.

"Seeing that sales of cars and motorcycles continue to increase until November, we are sure that sales of automotive components will also continue to grow. Therefore, we are optimistic that the 20 percent sales growth target and 50 percent net profit growth this year will be achieved," said Dharma Polimetal President Director Irianto Santoso in his statement, Thursday 22 December.

The demand for automotive components continues to increase in line with the increase in sales of cars and motorcycles that continue until November this year.

According to the records of the Indonesian Automotive Industry Association (Gaikindo), total car sales in Indonesia in the January-November period this year have reached 942,499 units, an increase of 19 percent compared to sales throughout January-November 2021 which was 790,529 units.

Meanwhile, the Indonesian Motorcycle Industry Association (AISI) noted that motorcycle sales in Indonesia in January-November 2022 reached 4,738,216 units, an increase of 1.5 percent compared to sales in January-November 2021 of 4,669,719 units.