Astra Otoparts Profit Skyrocketed 116.9 Percent In 2022

Illustration of Astra Otoparts (Photo: Doc. Antara0

JAKARTA - PT Astra Otoparts Tbk (AUTO) recorded a net profit increase of 116.9 percent to Rp1.32 trillion in 2022. Where, the previous year it recorded Rp611.34 billion.

Quoting Antara, the profit was supported by revenue performance which grew 22.62 percent yoy to Rp18.57 trillion, from the previous Rp15.15 trillion. in 2021.

Meanwhile, revenue from third parties which includes local sales and exports rose 21.64 percent yoy to IDR 12.01 trillion in 2022.

Meanwhile, revenue from related parties grew 24.46 percent yoy to Rp6.56 trillion in 2022, with a contribution from PT Astra Honda Motor (AHM) of Rp3.70 trillion and PT Astra Daihatsu Motor of Rp1.68 trillion.

The automotive component manufacturing segment dominates AUTO sales of IDR 10.35 trillion, followed by trading of IDR 8.22 trillion in 2022.

However, this revenue growth was followed by an increase in the cost of revenue which grew 19.55 percent yoy to Rp15.89 trillion in 2022, from the previous Rp13.29 trillion in 2021.

In terms of balance sheet, AUTO recorded asset growth to IDR 18.52 trillion in December 2022, from the previous IDR 16.94 trillion at the end of 2021, which was supported by increased cash and cash equivalents, business receivables, and company inventory.

On the other hand, total liabilities also increased to IDR 5.46 trillion at the end of 2022, from the previous IDR 5.10 trillion in 2021, which was in line with the growth of business debt, acrual liabilities and provisions, and long-term liabilities.

Meanwhile, the equity position grew from Rp11.84 trillion to Rp13.05 trillion at the end of 2022.