PT AKR Corporindo Tbk : AKRA Recorded 9M2024 Net Profit of IDR 1,469 Billion – Sustained Growth Over Past 5 years

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AKRA Recorded 9M2024 Net Profit of IDR 1,469 Billion - Sustained Growth Over Past 5 years October 25, 2024 JAKARTA, 25 th October 2024 - PT AKR Corporindo Tbk., (AKRA:IJ) today submitted its consolidated financial performance for the financial year ending 30 September 2024 to the Indonesian Stock Exchange and the Financial Services Authority (OJK) Key Performance Highlights for 9M 2024 Key Points: <_o3a_p> · AKRA reported Net Profit attributable to equity holders of the parent entity 9M24 (Unaudited) amounting to IDR 1,469 Billion<_o3a_p> · The Industrial Estate segment recorded revenue of IDR 1,001 billion , generated from land sales of IDR 686 Billion , rental income of IDR 139 Billion , and income from sales of electricity and other utilities of IDR 176 billion . The contribution of the Industrial Estate segment to AKRA's consolidated gross profit was 17.4%. Gross profit from sales of industrial land, rental income and utilities of 9M24 was recorded at IDR 410 billion <_o3a_p> · 9M24 EBITDA reached IDR 2,100 billion <_o3a_p> · The Company recorded an ROA of 7% TTM with ROE reaching 18% TTM <_o3a_p> · The balance sheet position remains strong with total assets of IDR 29,776 billion as of 30 September 2024 with a current ratio of 1.56x.<_o3a_p> · Cash position as of 30 September 2024 is IDR 4,654 billion with net gearing remaining in a low position on -0.01x<_o3a_p> In his statement, President Director of AKRA, Mr. Haryanto Adikoesoemo, said: "We recorded a net profit of IDR 1,469 trillion in the consolidated financial report for the fiscal year ending September 30, 2024. This achievement is still higher compared to the average of earnings in the past 5 years. This was achieved thanks to the diversification of business which provides more sustainable profitability compared to previous years. Amid global economic challenges, the Trading & Distribution segment posted a gross profit of IDR 1,734 trillion, while the Industrial Estate segment achieved a gross profit of IDR 410 billion. The Company's EBITDA remains strong at IDR 2,100 trillion, with a healthy balance sheet; our ROA and ROE were maintained at 18.2% and 6.6%, respectively. Additionally, we maintained a net gearing level of -0.01x, or in a net cash position." "Based on the enquiries we have received over the past nine months of 2024, we expect land bookings and sales to be booked in the remaining quarter of this year. JIIPE continues to attract both domestic and international investors, especially after being named the Best Industrial Special Economic Zone (SEZ) by the Coordinating Ministry for Economic Affairs of the Republic of Indonesia on July 18, 2024." "We expect in the next quarter we may improve our performance in trading and distribution segment and expecting land sales to reach our target. With our anchor tenants operational, we are expecting recurring income will start to benefit our industrial estate in the next year onwards." "On the ESG front, since June 2024, the Company has been recognized by MSCI, which awarded AKR an 'A' ESG rating. This is considered a strong rating for a company operating in the energy transportation and storage industry. This recognition was earned due to our efforts in enhancing efficiency by strengthening AI-integrated IT systems in the distribution of fuel and basic chemicals. This system has proven to improve efficiency, maintain emission intensity, and enhance delivery safety. The management will continue to monitor the implementation of AKR's sustainability initiatives to contribute to all stakeholders, including initiatives aimed at procuring cleaner energy." <_o3a_p> § Summary of Profit and Loss Account For the 9 Months Period Ended 30th September 2024 (Unaudited) <_o3a_p> <_o3a_p> § Segment Wise Performance<_o3a_p> The revenue for 9M24 reached IDR 28,612 Billion, with the trade and distribution segment contributing IDR 26,301 Billion, a 6% decline year-on-year (yoy). This decrease in revenue was driven by several factors, including lower operational activity from customers, influenced by both weather conditions and business factors. The Company applies a formula-based pricing model with MOPS as a reference, focusing on sales volume.<_o3a_p> The Industrial Estate segment generated revenue of IDR 1,001 billion from land sales, an 11% increase yoy. Revenue from utilities also rose to IDR 176 billion, representing a 259% increase yoy, driven by the increased operations of JIIPE tenants, which boosted demand for utilities such as electricity, water, and others.<_o3a_p> Consolidated financial Statement <_o3a_p> § Balance Sheet<_o3a_p> As of September 30, 2024, the Company's total assets were recorded at IDR 29,776 billion. There was a significant increase in current assets, particularly in the industrial estate land inventory, which rose to IDR 3,517 Billion, representing land ready for sale. The Company maintained a healthy Return on Assets (ROA) of 6.6% during the 9M24 period. The Company also continued to manage its Debt to Equity Assets (DEA) ratio at 0.5x, with a healthy current ratio of 1.56x. Net gearing remained in a net cash position at -0.01x.<_o3a_p> Total equity recorded at IDR 16,158 Billion as of September 30, 2024, with Return on Equity (ROE) maintained at 18.2%. The liabilities to Equity Ratio was kept at 1.2x, and the Debt/Equity (DER) ratio at 0.33x.<_o3a_p> Corporate Secretary and Investor Relations<_o3a_p> PT AKR Corporindo Tbk<_o3a_p> → Download

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