AKR Corporindo, Company Owned By Conglomerate Soegiarto Adikoesoemo Earns IDR 2.40 Trillion Profit In 2022, This Is The Motivater Factor

Photo: Doc. AKR Corporindo

JAKARTA - A company owned by conglomerate Soegiarto Adikoesoemo, PT AKR Corporindo Tbk (AKRA) reported a positive performance throughout 2022 with a net profit attributable to shareholders of the parent entity increasing 116 percent to Rp2.40 trillion.

Based on AKRA's financial report, quoted on Friday, March 24, the net profit achievement grew rapidly compared to net profit at the end of 2021 of IDR 1.11 trillion. AKR Corporindo President Director Haryanto Adikoesoemo said strong performance throughout 2022 was supported by all business segments.

Meanwhile, net profit was also contributed from consolidated revenue during 2022, which was IDR 47.54 trillion, or grew 85 percent from IDR 25.70 trillion in 2021. The segment which contributed the largest revenue from the industrial estate segment is in line with monetization from its long-term investment in JIIPE.

Trade and distribution revenue grew by 89 percent year-on-year (yoy) driven by the oil and chemical segment with higher volume growth and selling prices. Then, logistics and manufacturing also show double-digit growth.

Significant contributions were also recorded in the Industrial Estate business, which is supported by land and rental sales.

"Throughout 2022, sales of 44.5 ha of land were recorded to exceed our target," explained Haryanto.

In addition, gross profit from trade and distribution increased 86 percent to Rp3.44 trillion. The industrial estate segment contributed 13 percent of the consolidated gross profit and grew 65 percent yoy to Rp545 billion during 2022.

Meanwhile, manufacturing and logistics gross profit also grew during 2022 by 136 percent yoy. Furthermore, AKRA also recorded total assets of IDR 27.20 trillion in 2022 and net equity of IDR 13.15 trillion.

"The company's main financial ratio remains solid and AKRA has managed its working capital position very well and has Rp4.38 trillion or 16 percent of total cash assets and cash equivalents ensuring adequate liquidity and also the ability to fund its investment from internal cash sources," added Haryanto.