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This information is given in summary form and does not purport to be complete. Information in this presentation, including forecast financial information, should not
be considered as advice or a recommendation to investors or potential investors in relation to holding, purchasing or selling securities or other financial products or
instruments and does not take into account their particular investment objectives, financial situation or needs. Before acting on any information, readers should
consider the appropriateness of the information having regard to these matters, any relevant offer document and in particular, readers should seek independence
financial advice.
Forward-Looking Statements
This presentation may contain forward looking statements, including statements regarding our intent, belief or current expectations with respect to the Group
businesses and operations, market conditions, results of operation and financial condition, capital adequacy, specific provisions and risk management practices.
Readers are cautioned not to place undue reliance on these forward-looking statements; past performance is not a reliable indication of future performance. Astra
does not undertake any obligation to publicly release the result of any revisions to these forward-looking statements to reflect events or circumstances after the date
hereof to reflect the occurrence of unanticipated events. We disclaim any responsibility or liability whatsoever arising which may be brought or suffered by any
person as a result of acting in reliance upon the whole or any part of the contents of this report and neither Astra and/or its affiliated companies and/or their
respective employees and/or agents accepts liability for any errors, omissions, negligence or otherwise, in this report and any inaccuracy herein or omission here from
which might otherwise arise.
2 2
Financial Highlights
For the period ended 30th September 2023
Rp190,789 bn 1% Rp4,713 1%
“The Group’s results in the first nine months of 2023 were encouraging, reflecting continued recovery post-
pandemic. We expect the Group to remain relatively resilient amid global economic uncertainties and to continue
to deliver satisfactory results for the remainder of the year with growth moderating in the last quarter.”
3
Business Structure
Automotive Financial Services HEMCE Agribusiness Infrastructure & Logistics Information Technology Property
Car 4W Financing Construction Machinery Palm Oil Plantations Toll Roads Document Solutions Investment Properties
2W Financing
Mining Construction
IT Solutions
Refineries
• Tanjung Sarana Lestari
Heavy Equipment Financing
• Kreasijaya Adhikarya
Coal Mining
Office Services Trading Properties
Motorcycle General & Life Insurance Commodity Trading
• Astra-KLK Pte.Ltd Infrastructure Solutions
Non-Coal Mining
Construction Industry
4
Recent Corporate Actions
5
Recent Corporate Actions
6
Financial
Performance
Consolidated Profit and Loss Account
For the period ended 30th September
In Rp bn
2023 2022 Change (%)
Net income (before fair value adjustments on investments in GoTo and Hermina) 26,069 22,249 17
8
Divisional Revenue and Net Income
240,913
221,354
41%
39%
Net Revenue (Rp bn) 9% 9% Automotive
9%
Agribusiness
26,069**
22,249** Others (Infrastructure & Logistics, Information
35% Technology and Property)
31%
9
Consolidated Statement of Financial Position
• The net asset value per share at 30th September 2023 was Rp4,713, 1% lower than at 31st December 2022.
• Net cash, excluding the Group’s financial services subsidiaries, was Rp14.6 trillion at 30th September 2023, compared with Rp35.1 trillion at the end of
2022. Net debt of the Group’s financial services subsidiaries was Rp50.4 trillion at 30th September 2023 compared with Rp44.5 trillion at the end of 2022.
10
Consolidated Statement of Cash Flow
As at 30th September 2023, Astra’s consolidated closing cash balance was Rp50.9 trillion.
In Rp bn 9M23 9M22 Change
Cash generated from operations 40,990 37,915 3,075
Tax payments (8,748) (7,260) (1,488)
Interest received 2,011 1,896 115
Net cash flows provided from operating activities 34,253 32,551 1,702
Net capex (17,408) (7,723) (9,685)
Net investment (15,270) (9,010) (6,260)
Dividend received 5,235 4,316 919
Other investing 285 (224) 509
Net cash flows used in investing activities (27,158) (12,641) (14,517)
Net proceeds/(payment) of debt 16,147 (1,967) 18,114
Finance costs paid (1,294) (1,139) (155)
Dividend payments (33,418) (10,253) (23,165)
Other financing 1,573 (1,986) 3,559
Net cash flows used in financing activities (16,992) (15,345) (1,647)
(Decrease)/Increase in cash (9,897) 4,565 (14,462)
Opening cash balance 61,295 63,947 (2,652)
Exchange rate adjustment (463) 1,066 (1,529)
Closing cash balance 50,935 69,578 (18,643)
11
Business Update
Automotive – Wholesale Car Market
The wholesale car market in the first nine months of 2023 was relatively stable at 755,000 units (source: Gaikindo). Astra’s car sales were
2% higher at 421,000 units and its market share increased from 55% to 56%.
Market Share, Units [%] Market Segment, Units [%] Brand, Units [%]
179,301 187,870
[24%] [25%]
335,347 346,536
333,764 344,741 [44%] [46%]
[44%] [45%]
156,206 128,664
[21%] [17%]
Astra Others 4x4 & 4x2 LCGC Commercial Sedan Toyota & Lexus Daihatsu Isuzu Others
13
Automotive – Car Product Launches
16 new models and 8 revamped models were launched during the period.
Toyota All New Agya (NEW) Daihatsu All New Ayla (NEW) BMW 320i Sport (NEW) Toyota All New Yaris Cross HEV (NEW)
February 2023 March 2023 March 2023 May 2023
Lexus RZ 450e (NEW) Daihatsu New Terios Toyota Alphard Hybrid (NEW) Toyota RAV4 GR Sport PHEV (NEW)
June 2023 June 2023 August 2023 September 2023
14
Automotive – Motorcycle
The wholesale market for motorcycles grew by 31% to 4.7 million units in the first nine months of 2023 (source: Ministry of Industry). Astra’s Honda
motorcycle sales amounted to 3.7 million units, 39% higher than the same period last year, during which the business was impacted by production
constraints caused by semiconductor supply issues. This was also reflected in its market share, which increased from 74% to 79%.
79%
9M23 Honda CRF250L (NEW) Honda Goldwing Honda CT125
February 2023 March 2023 June 2023
15
Automotive – Components
The Group’s 80%-owned components business, Astra Otoparts, reported a 58% increase in net income to Rp1.3 trillion in the first nine
months of 2023, mainly due to higher revenue from the original equipment manufacturer segment.
4% 58%
27%
16
Financial Services
Net income from the Group’s financial services division increased by 33% to Rp5.9 trillion in the first nine months of 2023, with higher
contributions from consumer finance and general insurance.
9M23 vs 9M22
32,861 27%
TAF 27,988 26% KAF 3,343 21%
17
Heavy Equipment, Mining, Construction and Energy
Net income from the Group’s heavy equipment, mining, construction and energy division in the first nine months of 2023 was 1%
lower at Rp9.4 trillion, mainly due to lower contributions from its coal and gold mining businesses.
4,365 4,534
9%
97,598 9%
18%
16%
91,533 13% 4% 12%
2%
4% 1%
6% 62% 61%
25%
27%
9M23 9M22
7% Mining Forestry Construction Agro
40%
36%
Brand Market Share
Komatsu 31%
29% 30%
31% Sany 18%
9M23 9M22 9M23 9M23
Hitachi 17%
Construction Machinery Mining Contracting Coal Mining Gold Mining Construction Industry Energy
Caterpillar 13%
18
Heavy Equipment, Mining, Construction and Energy
15% 24%
8,549
7,776
1,833
1,644
19
Agribusiness
Net income from the Group’s agribusiness division in the first nine months of 2023 decreased by 34% to Rp638 billion, largely due to lower crude
palm oil (“CPO”) selling prices.
Revenue (Rp bn)
15,682 16,517
4,460
5,175
5%
12,057
10,507
Domestic
Export
9M23 9M22
20
Infrastructure & Logistics
The Group’s infrastructure and logistics division reported a 98% increase in net income to Rp766 billion in the first nine months of
2023, due to improved performance in its toll road, transportation solutions and logistics businesses.
Daily Toll Revenue (Rp bn) Daily Traffic Volume (‘K vehicles)
17.9 6% 16.8 6%
524.0 494.9
21
Information Technology
The Group’s information technology division, represented by 76.9%-owned Astra Graphia, reported a 96% increase in net income to
Rp96 billion, primarily due to improved operating margin and higher revenue.
2,078 2,046
6% 13%
47% 42%
2%
47% 45%
9M23 9M22
Net Income
Rp124 bn 94%
22
Property
The Group’s property division reported a 5% increase in net income to Rp114 billion, mainly due to higher number of units handed over in
Arumaya Residences and an improvement in occupancy at Menara Astra.
Menara Astra Resta Pendopo Asya Anandamaya Astra Land Logos Indonesia
KM 456
5%
114 109
9M23 9M22
23
Astra 2030 Sustainability Aspirations
Portfolio People Public Contribution
Reduce Greenhouse Gas Employee Diversity &
Energy Management Community Development
Emissions Inclusion
Reduce group-wide scope 1 and 2 50% renewable energy to supply Champion actions to support employee Reach 2.5 million people through our
greenhouse gas by 30% operations diversity and inclusion, focusing on gender community development programs
Reduce group-wide water withdrawal Achieve 99% solid waste recycling and Achieve zero workforce fatalities and 60%
intensity by 15% recovery reduction in lost time injury rate group-wide
Key Enabler
Good Corporate Governance
24
Appendices
Car Product Launches 2023
Prices (Rp mn) -
Models Launched Launching Period Engine Capacity
on the road
Toyota Corolla Cross GR Sport Feb’23 1,800cc 602.1 – 607.1
Toyota Corolla Cross HV Feb’23 1,800cc 561.9 – 564.9
Toyota All New Agya (NEW) Feb’23 1,200cc 167.9 – 256.0
Lexus All New RX (NEW) Feb’23 2,400cc 1,658 – 1,872
BMW X7 xDrive40i M Sport Feb’23 3,000cc 2,417*
Daihatsu New Ayla (NEW) Mar’23 1,000cc 135.8 – 171.7
BMW 320i Sport (NEW) Mar’23 2,000cc 947*
BMW 530i Touring M Sport Pro Mar’23 2,000cc 1,757*
BMW Z4 sDrive30i M Sport Mar’23 2,000cc 1,447*
BMW Z4 M40i Mar’23 3,000cc 1.727*
Toyota New Yaris GR Sport May’23 1,500cc 326-349
Toyota All New Yaris Cross (NEW) May’23 1,500cc 351.0-454.9
Lexus RZ 450e (NEW) Jun’23 BEV 2,287
Lexus RX 500h (NEW) Jun’23 2,400cc 1,975
Daihatsu New Terios(NEW) Jun’23 1,500cc 238.5-305.7
BMW 735i M Sport (NEW) Jun’23 3,000cc 2,287
BMW i7 xDrive60 Gran Lusso(NEW) Jun’23 BEV 3,407
28
Equity Research Contact Details
No Brokerage House Analyst Name Contact Number Email Address
1 Aldiracita Sekuritas Indonesia Agus Pramono +62 21 39705860 agus.pramono@aldiracita.com
2 BCA Sekuritas Mutiara Nita +62 21 23587222 mutiara.nita@bcasekuritas.co.id
3 BofA Securities Paul Dewberry +65 6678 0423 paul.dewberry@bofa.com
4 Ciptadana Sekuritas Asia Arief Budiman +62 21 2557 4800 budimanarief@ciptadana.com
5 Citigroup Sekuritas Indonesia Ferry Wong +62 21 2924 9213 ferry.wong@citi.com
6 CLSA Sekuritas Indonesia Sarina Lesmina +62 21 5088 7888 sarina.lesmina@clsa.com
7 DBS Vickers Sekuritas Maynard Priajaya Arif +62 21 3003 4900 maynardpriajaya@dbs.com
8 Henan Putihrai Sekuritas Alroy Soeparto +62 21 2525 888 alroy.soeparto@henanputihrai.com
9 HSBC Global Research Rahul Bhatia +65 6658 0623 rahul1.bhatia@hsbc.com.sg
10 Indopremier Sekuritas Giovanni Dustin +62 21 5088 7168 giovanni.dustin@ipc.co.id
11 J.P. Morgan Sekuritas Indonesia Benny Kurniawan +62 21 5291 8024 benny.kurniawan@jpmorgan.com
12 KB Valbury Sekuritas Akhmad Nurcahyadi +62 21 2945 1577 Akhmad.nurcahyadi@kbvalbury.com
13 Macquarie Sekuritas Indonesia Ari Jahja +62 21 25988366 ari.jahja@macquarie.com
14 Mandiri Sekuritas Ariyanto Kurniawan +62 21 5296 9682 ariyanto.kurniawan@mandirisek.co.id
15 MNC Sekuritas Rudy Setiawan +62 21 2980 3111 muhammad.setiawan@mncgroup.com
16 Morgan Stanley Divya Gangahar Kothiyal +65 6834 6438 divya.Gangahar@morganstanley.com
17 NH Korindo Sekuritas Indonesia Arief Machrus +62 21 5088 9127 arief.machrus@nhsec.co.id
18 OCBC Sekuritas Indonesia Inav Chandra +62 21 2234 5430 inav.chandra@ocbcsekuritas.com
19 Panin Sekuritas Felix Darmawan +62 21 515 3055 felix@pans.co.id
20 RHB Sekuritas Indonesia Andrey Wijaya +62 21 2598 6888 andrey.wijaya@id.oskgroup.com
21 Samuel Sekuritas Pebe Peresia +62 21 2854 8100 pebe.peresia@samuel.co.id
22 Trimegah Sekuritas Indonesia Willinoy Sitorus +62 21 2924 9088 willinoy.sitorus@trimegah.com
23 UBS Sekuritas Indonesia Igor Putra +62 21 2554 7033 Igor.putra@ubs.co.id
24 UOB Kay Hian Sekuritas Stevanus Juanda +62 21 2993 3845 stevanusjuanda@uobkayhian.com
25 Verdhana Sekuritas Indonesia Jupriadi Tan +62 21 5098 5799 Jupriadi.tan@verdhana.id
29
For further information please contact:
PT Astra International Tbk
Corporate Investor Relations
P: (+62 21) 5084 3888
E: investor@ai.astra.co.id