Alam Sutera Achieves Revenue Of IDR 1.9 Trillion Until Semester I-2024

Rupiah (Photo: Antara)

JAKARTA - PT Alam Sutera Realty Tbk (ASRI) noted that revenue until the first semester of 2024 reached IDR 1.9 trillion. This figure is up 18 percent on an annual basis, aka year on year (yoy) from IDR 1.59 trillion.

In detail, the majority of Alam Sutera's income comes from real estate of IDR 1.44 trillion. Then, hospitality and infrastructure services of IDR 320.9 billion, tourism of IDR 119.3 billion and others IDR 422.6 million.

"Income of IDR 1.9 trillion or an increase of 18 percent yoy, the biggest contribution is sales from homes and shophouses of IDR 1.2 trillion," said Alam Sutera Investor Ressa Remisha on the Public Expose Live agenda online, Thursday, August 29.

According to Tassa, ASRI's increase in revenue was due to an increase in revenue recognition from several projects, including Winona Cluster, Sutera Sawangan and Eldora Cluster.

"All revenue segments have experienced a good increase, except for land sales and office buildings," he said.

The cost of goods sold, service income, and other businesses amounted to Rp908 billion in the first semester of 2024, up from Rp775 billion in the same period last year. As a result, gross profit of Rp974 billion in the first half of 2024, still rose 18 percent yoy.

Unfortunately, a number of ASRI expenses were recorded to increase in the first semester of 2024. For example, ASRI's selling expenses rose to Rp75.52 billion as of June 2024, from the previous Rp62.87 billion in June 2023. General and administrative expenses also rose to Rp190.71 billion from the previous Rp176.30 billion.

As a result, profit for the year attributable to owners of the parent entity amounted to IDR 24 billion in the first semester of 2024. This is down 86 percent yoy.

As for the first quarter of 2024, ASRI recorded a net profit of IDR 42.12 billion, up 39 percent on an annual basis, aka year on year (yoy). Sales, service and other business revenues were recorded at IDR 947.27 billion, up 36 percent YoY from IDR 695.06 billion.