Net revenue rose 11 percent (y/y) to IDR 98.03 trillion in the January-June 2017 period. Besides the automotive segment, Astra International's good corporate  earnings in H1-2017 were also attributed to the group's improving financial services businesses with a return to profit by Permata Bank. Also the group's heavy equipment and mining segments performed well, as well as its agribusiness activities, as they all benefited from higher commodity prices.

Prijono Sugiarto, President Director of Astra International, noted in a statement that Astra's market share in the domestic automotive sector has expanded from 51 percent to 56 percent in the first half of 2017, supported by the launch of one new car model and four revamped car models as well as discount offerings (although at the same time these discounts also slightly limit the pace of earnings).

For the remainder of 2017 Sugiarto expects the Astra Group to continue to benefit from stable coal prices, although earnings may be tempered by increasing competition in Indonesia's car market and soft demand in the motorcycle market.

Astra International's Financial Results:

Subject Jan-Jun
  2016
Jan-Jun
  2017
Change
  (y/y)
Net Revenue  88,208  98,031   +11%
Net Income   7,116   9,357   +31%
Net Earnings per Share¹    176    231   +31%
Net Asset Value per Share¹   2,765   2,881    +4%

in billion of IDR rupiah
¹ in rupiah

Source: Astra International

Astra International's Net Income per Business Line:

Subject Jan-Jun
  2016
Jan-Jun
  2017
Change
  (y/y)
Automotive   3,864   4,200    +9%
Financial Services   1,253   2,035   +62%
Heavy Equipment & Mining   1,121   2,057   +83%
Agribusiness    631    832   +32%
Infrastructure, Logistics & Others    139    110   -21%
Information Technology     73     55   -25%
Property     35     68   +94%
Attributable Net Income  7,116  9,357   +31%

in billion of IDR rupiah
Source: Astra International

However, directly after trading opened on Friday morning (28/07) shares of Astra International fell 0.93 percent to IDR 8,000 a piece as most Asian stock market are in red territory on Friday morning. So far this year Astra's shares have fallen 3.32 percent.

Stock Quote Astra International - ASII:

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