Astra Otoparts Books Net Profit Of IDR 1.01 Trillion Until Semester I-2024

Automotive (Photo: intermediate)

Astra Group automotive component issuer, PT Astra Otoparts Tbk (AUTO) recorded a net profit of IDR 1.01 trillion until the first semester of 2024. This profit grew 26.5 percent compared to the same period the previous year, which was IDR 0.80 trillion.

"The increase in net profit is in line with the increasing performance of the trade business segment, exports of the company's manufacturing business segment and profits for the sale of fixed assets," said Astra Otoparts Director Sophie Handili on the Public Expose Live agenda online, Friday, August 30.

In terms of balance sheet, the company also posted asset growth to IDR 20.4 trillion by the end of June 2024. This figure is up 4.1 percent compared to at the end of December 2023, which was IDR 19.6 trillion.

Along with that, the total liabilities also recorded an increase of 10.1 percent to Rp5.5 trillion until the first semester of 2024, from the previous Rp5.1 trillion at the end of December 2023.

"Although the automotive market has not fully recovered to pre-pandemic levels, in the future we will continue to consistently implement this strategy to continue to record growth," he said.

It is known, Astra Otoparts in running its business is also working with various global automotive component suppliers. For example, Japanese manufacturers such as Denso, Aisin, and Akebono. Then, tire manufacturers from Italy, Pirelli, to the Visteon Group from China.

So far, the company has produced automotive components for two-wheeled vehicles, four-wheeled vehicles to commercial vehicles, including electric vehicles (EVs).

For four-wheeled and commercial vehicles, the AUTO product portfolio consists of engine pistons, engine valves, water filters, oil filters to transmissions and gearboxes.

Meanwhile, for two-wheeled vehicles, AUTO product portfolios include motorcycle chain, motorcycle battery, shock absorber, automotive gasket to ball bearing.