In line with the increasing sales of four-wheeled and two-wheeled vehicles in Indonesia, PT Astra Otoparts Tbk (Company/AUTO) recorded a consolidated net profit of IDR 801.6 billion, growing 85.3% in the first semester of 2023 compared to the first semester of 2022. The net profit The Company's consolidated first semester of 2022 is IDR 432.5 billion.
The increase in net profit was in line with the increase in the Company's revenue performance to IDR 9.4 trillion, or grew 9.3% from the first semester 2022 revenue performance of IDR 8.6 trillion. Meanwhile, from the balance sheet side, the Company posted an asset growth of 3.5% to IDR 19.2 trillion at the end of June 2023, compared to IDR 18.5 trillion at the end of December 2022.
On 12 July 2023, the Company collaborated with PT PLN (Persero) to sign a memorandum of understanding (MoU) to accelerate the clean energy transition by developing electric vehicle (EV) infrastructure through Astra Otopower, a charging facility for Electric Motorized Vehicles Based on Batteries (KBLBB) for four-wheeled electric vehicles that have been spread across 13 points use charging machines that are developed and produced by themselves under the ALTRO brand.
Manufacturing Business Segment
In the manufacturing business segment, the Company collaborates with world-renowned business partners to produce a wide range of spare parts products that serve almost all automotive manufacturers and the replacement parts market in Indonesia, both for two-wheeled, four-wheeled, commercial and other vehicles. Throughout the first semester of 2023, the Company's manufacturing business segment recorded a net revenue growth of 18.1% to IDR 5.3 trillion, compared to the first semester of 2022 of IDR 4.5 trillion.
Trading Business Segment
The Company's trading business segment is supported by a domestic distribution network, exports and a modern retail trade network with the names Shop&Drive, Shop&Bike, Motoquick and Astra Otoservice, as well as a digital trading platform www.astraotoshop.com which sells automotive and non-automotive products. In the first semester of 2023, the Company's trading business segment is at the same level as the first semester of 2022, which is IDR 4.10 trillion.
"Along with the performance growth in semester 1 of 2023 going forward, we hope that this growth will continue to increase in line with the growth of the Indonesian automotive market. The increase in sales of motorized vehicles and the increase in the target of both Gaikindo (Indonesian Automotive Industries Association) and AISI (Indonesian Motorcycle Industry Association) are positive benchmarks, which we hope will also have a positive impact on our trading business and manufacturing business. We will also continue to innovate to develop new products and improve our work processes to increase productivity," concluded Astra Otoparts Director Wanny Wijaya.
