JAKARTA – PT Adira Dinamika Multi Finance Tbk (ADMF), or Adira Finance, reported a significant drop in net profit of 27.64% year-on-year (yoy), falling to IDR 1.41 trillion by the end of 2024.

According to disclosures made to the Indonesia Stock Exchange (IDX) today (14/2), the company's revenue actually grew by 5.07% yoy, reaching IDR 9.99 trillion by the end of December 2024, up from IDR 9.51 trillion in 2023.

However, expenses surged by 17.09% yoy, rising from IDR 7.04 trillion to IDR 8.24 trillion, which put pressure on Adira Finance’s bottom line in 2024, resulting in the profit decrease from IDR 1.94 trillion to IDR 1.41 trillion.

This significant decline in performance is thought to be linked to the recent slump in Indonesia’s automotive market. To address this, Adira Finance has devised various plans. One of the key strategies, revealed by Harry Latif, Chief of Business & Portfolio Officer at Adira Finance, is to increase the number of automotive exhibitions across Indonesia.

“The company will continue to address this by organising more exhibitions, such as the Indonesia International Motor Show (IIMS), but on a smaller scale,” Harry said during the PT Bank Danamon Indonesia Tbk (BDMN) press conference at the IIMS 2025 event in Jakarta on Thursday (13/2).

With these exhibitions, it is expected that public interest in purchasing vehicles, either through cash or credit, will increase. Additionally, Harry noted that Adira Finance will also focus on expanding its network across all regions of Indonesia.

By having an extensive network, Harry explained, Adira aims to ensure that people in various areas, including outside Java, receive flexible vehicle financing services tailored to the needs of the market.

Harry further explained that with the expanding coverage—not only in Java but also outside Java—along with continuous improvements and other contributing factors, new market potential is expected to emerge. (DH/ZH)