PT Astra Otoparts Tbk (the Company) during the first semester of 2022 recorded a consolidated net profit of Rp 432 billion, up 62% compared to the previous year. The increase was due to an increase in demand for spare parts from both the automotive manufacturer market and the replacement parts market.
Although the Company's business operations are also affected by the recovery process of the Covid-19 pandemic and dynamic macroeconomic conditions due to the Russia-Ukraine geopolitical situation, the Company consistently shows positive performance. Implementation of operational excellence is focused on the Company through working capital management, increasing productivity, diversifying non-automotive products, and initiating the Company in the electric vehicle ecosystem.
The company was still able to record an increase in net income of 20% compared to the previous year to Rp 8.6 trillion. The Company's net assets also increased by 4% compared to the position of December 31, 2021 to Rp 17.6 trillion.
Manufacturing Business Segment
In the manufacturing business segment, the Company collaborates with world-renowned business partners to produce various kinds of spare parts products that serve almost all automotive manufacturers and the replacement parts market in Indonesia, both for two-wheeled vehicles, four-wheeled vehicles, commercial vehicles, and others. During the first semester of 2022, the Company's manufacturing business segment contributed 52% net income or Rp 4.5 trillion.
Trading Business Segment
Supported by domestic and international distribution networks as well as modern retail trade networks with the names Shop&Drive, Shop&Bike, Motoquick, and Astra Otoservice, as well as the online trading platform www.astraotoshop.com which sells both automotive and non-automotive products, the Company's trading business segment contributed net income of 48% or Rp 4.1 trillion during the first semester of 2022.
Corporate Actions of the Company and others
In 2022, the Company introduced Astra Otopower as a battery-based electric motor vehicle charging facility that can be used by all types of electric four-wheeled vehicles, and launched product innovations in the form of Car Air Purifier and Grin Plasmafan equipped with ionizer.
The Company also supports the implementation of Environmental, Social, and Governance (ESG), including by reducing greenhouse gas emissions; management of energy, water, and waste; occupational health and safety program; and community development programs. The Company won several awards including the Best Role of Stakeholders award from the Indonesian Institute for Corporate Directorship, an award in the Automotive Sector and Automotive Components from Bisnis Indonesia, Best 151 Issuers from Warta Ekonomi, and the Best Shares award from Investor Magazine.
