ASSA Revenue Increase 33% YoY in 9M 2022

By : Nata Kesuma | Monday, November 07 2022 - 12:39 IWST

PT Adi Sarana Armada Tbk (ASSA)
PT Adi Sarana Armada Tbk (ASSA)

INDUSTRY.co.id - Jakarta, November 1st, 2022 – PT Adi Sarana Armada Tbk (ASSA) an issuer engaged in mobility, logistics and its support, posted a comprehensive net profit attributable to owners of the parent company of IDR123.57 billion in the first nine months of 2022, an increase of 41% from IDR87.74 billion in the same period the previous year.

Through its three main business pillars, namely the mobility business (vehicle rental, driver services, car sharing logistics services), the vehicle buying and selling business (JBA Auctions and Online-to- Offline used car dealers-Caroline), and end-to-end car dealerships. end logistics (logistics and courier express Anteraja), the Company booked revenue of IDR4.63 trillion, increase 33% from IDR3.48 trillion in the same period in 2021.

“In the first nine months of 2022 which was full of challenges due to the increase in prices of several commodities, especially fuel prices, as well as the high rate of inflation, the Company as a whole managed to record a fairly good performance with revenues increasing by 33% and maintaining business sustainability. Therefore, we are optimistic that we are on the right track and will continue our expansion plans. However, we will increase our caution as it is currently still in the consolidation period," said ASSA's President Director, Prodjo Sunarjanto.

In line with the consolidation period, the Company sees that 2023 will be full of challenges and this is starting to be reflected in the increase in cost of revenue for the third quarter of 2022 by 35% YoY, to IDR3.77 trillion, and general and administrative expenses which rose 45% YoY to IDR602.41 billion.

The increase in costs was previously anticipated, because it came from the need for funds for strategy and business consolidation in the mobility and logistics business.

As of September 30th, 2022, ASSA's total current assets were recorded at IDR1.87 trillion, an increase of 76% compared to the position on December 31st, 2021 which amounted to IDR1.06 trillion.

News Comment

Today's Industry

Qatar Airways

Jumat, 03 Februari 2023 - 21:51 WIB

Qatar Airways And Airbus Reach Amicable Settlement In Legal Dispute

Qatar Airways and Airbus are pleased to have reached an amicable and mutually agreeable settlement in relation to their legal dispute over A350 surface degradation and the grounding of A350…

Asia-Pacific Universal Robots

Jumat, 03 Februari 2023 - 19:31 WIB

Universal Robots reports record revenue despite global uncertainty

Universal Robots, the Danish collaborative robot (cobot) company, has reported Q4 revenue of USD 85 million, bringing 2022 annual revenue to USD 326 million, up 5% on 2021. On a constant currency…

PT Jababeka Tbk realized a Rooftop Solar Power Plant (PLTS) and formed the Jababeka Net Zero (JNZ) Forum. The inauguration of PLTS Atap in Jababeka-Cikarang place at the President Executive Club.

Jumat, 03 Februari 2023 - 17:19 WIB

Committed to Being a Net Zero Industrial Estate, Jababeka Inaugurates PLTS Atap and Jababeka Net Zero Forum

After announcing and signing a commitment towards a net zero industrial cluster at the B20 Summit at the G20 Summit series last November 2022, PT Jababeka Tbk realized a Rooftop Solar Power…

Jababeka & SD Darmono Won an Award at PropertyGuru 2022

Jumat, 03 Februari 2023 - 16:00 WIB

Jababeka & SD Darmono Won an Award at PropertyGuru 2022

PT Jababeka Tbk through one of its subsidiaries namely Jababeka Residence, received an award as the Best Mega Township Development at the PropertyGuru Indonesia Property Award 2022, at the Ritz…

Jababeka Net Zero Cluster Announced at World Economic Forum 2023 in Davos- Switzerland

Jumat, 03 Februari 2023 - 15:30 WIB

Jababeka Net Zero Cluster Announced at World Economic Forum 2023 in Davos- Switzerland

PT Jababeka Tbk (Jababeka) is fully committed to helping realize Indonesia‚Äôs vision of achieving carbon neutrality by 2060. One of the concrete actions taken by Jababeka is to declare an ambition…