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

The President Director of PT Trimegah Sekuritas Indonesia Tbk (TRIM), Philmon Tanuri (left) delivered remarks at the kick off of Trimegah's collaboration with IA SBM-ITB in Jakarta on Wednesday (05/06/2024).

Jumat, 07 Juni 2024 - 19:43 WIB

Trimegah Sekuritas Supports Ikatan Alumni SBM-ITB to Realise Lifelong Learning Mission

In order to realise its mission of “Educate and create wealth for community through unique and professional investment experience”, PT Trimegah Sekuritas Indonesia Tbk (TRIM) collaborates…

Wellington College Independent School Jakarta (WCIJ)

Senin, 29 April 2024 - 05:02 WIB

One of the UK’s Most Established Schools Chooses Jakarta for Their Latest Opening

Wellington College Independent School Jakarta (WCIJ) is thrilled to announce its grand opening in September 2024! As the first private UK school to open in Indonesia, WCIJ, a pioneering co-educational…

Presiden Jokowi

Selasa, 23 April 2024 - 10:29 WIB

President Jokowi Reaffirms Commitment to Farmers’ Welfare

President Joko “Jokowi” Widodo on Monday (04/22) inspected corn harvest in Boalemo regency, Gorontalo province. “Our corn import has decreased significantly from 3.5 million tonnes to…

Photo: Aris Nurjani/VOI

Rabu, 28 Februari 2024 - 12:47 WIB

Carsurin and NBRI Strengthen Strategic Alliance to Propel Indonesia’s EV Industry

PT Carsurin Tbk ("Carsurin") and the National Battery Research Institute ("NBRI") are pleased to announce the signing of a pivotal Strategic Alliance Agreement (SAA), marking a significant advancement…

Beras (Foto/Rizki Meirino)

Rabu, 21 Februari 2024 - 08:43 WIB

Gov’t to Continue Disbursing Rice Assistance

President Joko “Jokowi” Widodo has ensured that the Government will continue rolling out the rice assistance program for low-income families. The President made the statement when handing…