JAKARTA – PT Astra International Tbk (ASII) recorded a net profit of IDR 34 trillion for the 2024 financial year, a slight increase of 1% year-on-year (yoy) from the previous year.

Djony Bunarto Tjondro, President Director of ASII, stated that business diversification strategies helped the company face challenges in several business lines. “Most of the revenue came from the motorcycle business, financial services, infrastructure, and logistics,” Djony said in an official statement.

ASII’s net profit from the financial services business grew by 6% yoy to IDR 8.3 trillion in 2024. Meanwhile, net profit from agribusiness increased by 9%, and infrastructure and logistics surged by 37%.

Additionally, profits from the information technology business rose significantly by 43% yoy, while the property business also increased by 56%.

On the other hand, several of ASII's core business segments faced pressure. Net profit from the automotive business dropped by 2% yoy to IDR 11.2 trillion in 2024, and net profit from the heavy equipment, mining, construction, and energy businesses fell by 5% to IDR 11.99 trillion.

The decline in profits from these two core businesses, Djony said, was due to sluggish car sales and declining coal prices. (KR/ZH)