Adhi Karya Earns IDR 81.24 Billion Net Profit In 2022, Up 47 Percent

JAKARTA - PT Adhi Karya (Persero) Tbk (ADHI) recorded an increase in revenue of up to 18 percent to IDR 13.5 trillion in 2022. In the previous year it reached IDR 11.5 trillion.

Quoting information disclosure, Monday, March 6, the profit attributable to owners of the parent entity is IDR 81.24 billion in 2022. This amount strengthened 47 percent from the previous year's IDR 55.19 billion.

"The ADHI Bottom line shows an increase amid an increase in energy and commodity prices due to global conditions including the Russia-Ukraine War," said ADHI Corporate Secretary Farid Budiyanto.

ADHI's total liabilities decreased from Rp34.2 trillion in 2021 to Rp31.2 trillion in 2022. This achievement decreased 9 percent compared to the previous year.

"ADHI has also succeeded in profiling its short-term liabilities into the long term on its bonds," he said.

Meanwhile, ADHI's equity increased from IDR 5.7 trillion in 2021 to IDR 8.8 trillion in 2022, an increase of 56 percent compared to the previous year.

The improvement in the leverage ratio from the previous year occurred where there was a decrease in the total DER ratio from 6.05x in 2021 to 3.53x in 2022.

ADHI posted positive operating net cash flow in 2022 of IDR 1.2 trillion which was contributed by cash in receipts from existing receivables including from large projects throughout 2022.

"This shows ADHI's consistency in maintaining the cash flow of net positive operations over the last 5 years," he said.

He said that the improvement in the Company's performance was in accordance with the Company's guidance and was supported by efforts that had been made, including improving collection of receivables, being prudent in the selection of new projects, being disciplined in managing cash flow, implementing the project financing scheme and funding scheme that is appropriate for each project, as well as increasing operational excellence discipline.