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Today's Headlines Prijono Sugiarto
Although Astra International, one of Indonesia's biggest diversified conglomerates, has been affected by subdued car sales in Indonesia in recent years, the company remains comfortably within the top ten of biggest listed companies in terms of market capitalization on the Indonesia Stock Exchange.
One of Indonesia's biggest diversified conglomerates (and therefore often labelled the barometer of the Indonesian economy), Astra International, posted a solid 25 percent year-on-year (y/y) growth of net profit to IDR 18.9 trillion (approx. USD $1.39 billion) in full-year 2017. Meanwhile, the company's net revenue rose 13.8 percent (y/y) to IDR 206.1 trillion (approx. USD $15.2 billion).
Astra International, among the biggest diversified conglomerates in Indonesia, plans to distribute a total of IDR 6.8 trillion (approx. USD $511 million) worth of dividend for financial year 2016 to its shareholders, about 45 percent of the company's total net profit (slightly below the 50 percent payout ratio in the preceding year). Astra's 2016 dividend involves final dividend of IDR 113 per share and interim dividend of IDR 55 per share (hence total dividend of IDR 168 per share).
According to Finance Asia magazine, Astra International, one of the largest diversified conglomerates in Indonesia, is the best company in Indonesia, thus obtaining the "Platinum Award" from the magazine that focuses on finance, investment banking, economic and capital markets news. Astra International won the award due to its corporate performance and management (including investor relations, corporate social responsibility program) and CEO leadership. As such, Astra is considered to be on par with world class companies such as Samsung Electronics and China Telecom.
Astra International reported a 25 percent year-on-year (y/y) decline in net profit to IDR 14.4 trillion (approx. USD $1.1 billion) over 2015. This is the company's lowest net profit figure in the past five years. Main reasons for this weak performance is falling domestic consumption in Indonesia and persistently sliding commodity prices. Astra International, an investment holding company, is among the largest diversified conglomerates in Indonesia and regarded the barometer of the Indonesian economy due to the group's presence in various sectors.
Being the barometer of the Indonesian economy - due to the company’s presence in various sectors of the economy - the financial performance of Astra International in the first quarter of 2015 provides valuable information about the current condition of the Indonesian economy (ahead of the official release of the country’s Q1-2015 GDP growth). As Astra’s net profit and revenue declined 15.6 percent and 9 percent, respectively, from the same quarter last year, investors’ concern about the country’s Q1-2015 GDP growth figure is justified.
Indonesia’s largest listed company in terms of market capitalization and one of the country’s largest diversified conglomerates, Astra International (which is often labelled the barometer of the Indonesian economy due to the company’s presence in various sectors, from car distribution to plantations, financial services and heavy equipment) posted mixed results in 2014. Based on Astra’s latest corporate earnings report, its full-year 2014 net profit fell 1.2 percent year-on-year (y/y) to IDR 19.2 trillion (USD $1.5 billion).
Indonesian car sales, an important indicator to measure consumer confidence and domestic consumption, surged 24.1 percent (year-on-year) to 96,728 vehicles in August 2014. However, this growth pace is heavily influenced by public holidays and thus does not signal a marked improvement in Indonesian consumer confidence. In August last year, Indonesian car sales fell because of the limited amount of working days amid the Lebaran holiday (Idul Fitri), causing reduced production and distribution of cars and motorcycles.
Latest Columns Prijono Sugiarto
Astra International, one of Indonesia's largest diversified conglomerates and regarded the barometer of the Indonesian economy due to the company's presence in most sectors of the economy, posted a 22 percent (y/y) decline in net profit to IDR 3.11 trillion in the first quarter of 2016. Meanwhile, its revenue fell 7 percent (y/y) to IDR 41.89 trillion over the same period. The weak financial performance was particularly attributed to weak earnings of the company's heavy equipment unit United Tractors. Shares of Astra International fell 5.21 percent on Wednesday's trading day (27/04) to a seven-week low.
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