Bisnis.comJakarta – PT AKR Corporindo Tbk. (AKRA) has reported a decline in revenue and net profit between January and September 2024 in line with the sluggish performance of the fuel trading and distribution segment.
In 9 months 2024, AKRA will pocket IDR 28.61 trillion in revenue or a decrease of 4.55% year after year (YoY) from IDR 29.97 trillion in the same period in 2023. AKRA’s biggest revenue comes from the fuel trade and distribution sector IDR 21.48 trillion, chemical trade and distribution IDR 4.81 trillion.
AKRA management explained that revenue from the fuel trading and distribution sector fell by 6.53% year-on-year, driven by a number of factors related to the decline in operational activity from customers, both due to weather and business conditions. The company uses a business model price based on a formula with MOPS as reference and focus on sales volume.
In addition, AKRA’s income is also contributed to departments industrial area IDR 1 trillion, logistics services IDR 812 billion, and manufacturing IDR 499 billion. Industrial Estate segment revenue rose 11% YoY, while utilities revenue jumped 259% YoY in line with the increase in JIIPE tenant activity which fueled demand for utilities, such as electricity, water, etc. .
AKR Corporindo President Director Haryanto Adikoesoemo said JIIPE increasingly attracting domestic and foreign investors, especially by awarding the JIIPE Gresik SEZ as the Best Business SEZ by the Coordinating Ministry for Economic Affairs on July 18, 2024.
In addition, AKRA’s accumulated gross profit until the third quarter of 2024 was recorded at IDR 2.353 trillion with a gross profit margin of 8%. The industrial area segment contributed 17% to total profit.
In the midst of global economic challenges, the trade & distribution sector recorded a total profit of IDR 1,734 billion, while the business district sector recorded a total profit of IDR 410 billion. Meanwhile, AKRA pocketed an operating profit of IDR 1.69 trillion with a margin of 6%.
“We recorded a net profit of IDR 1.47 trillion as of September 30, 2024,” he wrote in a press release, which was announced on Sunday (27/10/2024).
Net profit AKRA is 14.19% below the performance of IDR 1.69 trillion in January-September 2023. Haryanto said that the company’s EBITDA is at a high level of IDR 2.1 trillion.
“We have a healthy balance sheet; where ROA and ROE of the company can be maintained at 18% and 7%. The company also maintains standards web gear at the rate of -0.01 times or net money.” he said.
AKRA hopes that in the next quarter the company can improve its performance in the trade and distribution sector and hopes that land sales will reach the target of 130 hectares.
2024-10-27 01:30:00
#AKR #Corporindos #AKRA #net #profit #fall #Quarter #III2024
