Astra International Disburses IDR 35 Trillion Of Capital Expenditure, For Anything?

JAKARTA - PT Astra International Tbk (ASII) realized capital expenditures of IDR 35 trillion until the third quarter of 2023.

"Capex and investment that we have spent until September 2023 amounting to Rp35 trillion, grew significantly compared to 2022," said ASII President Director Djony Bunarto Tjondro quoting Antara.

Djony explained that capital expenditures were allocated, especially for its subsidiaries, namely PT United Tractors Tbk (UNTR) in terms of replacement or rejuvenation of heavy equipment and adding heavy equipment.

UNTR is a subsidiary of ASII that handles five business lines, including mining, mining contractors, the construction industry, construction machinery, and energy.

"In addition, the agribusiness sector for capital expenditures is allocated for maintenance of plantation infrastructure," said Djony.

In the automotive sector, continued Djony, capital expenditures are allocated to maintain outlets, as well as form omnichanel businesses in the automotive business.

Meanwhile, his party has not been able to convey the amount of the company's capital expenditure allocation in 2024.

On this occasion, Djony said that ASII's performance had increased until the third quarter of 2023, which occurred in almost all business portfolios except UNTR which was indeed affected by the decline in coal reference prices.

"We hope that the current performance can be continued until the end of 2023. We admit that the situation is also not very supportive, but we are still confident that until the last three months, we can manage the situation well," said Djony.

During the third quarter of 2023, ASII posted a net income of IDR 240.91 trillion, or an increase of 9 percent year on year (yoy), compared to the previous IDR 221.35 trillion in the third quarter of 2023.

ASII's net profit was recorded at IDR 25.69 trillion in the third quarter of 2023, or an increase of 10 percent (YoY) compared to IDR 23.33 trillion in the third quarter of 2022.