JAKARTA – The revenue and net profit of PT ABM Investama Tbk (ABMM) contracted by 19.57% and 51.77% respectively in 2024 compared to 2023. Similarly, the company’s stock performance remained in the red over the past year.

In the 2024 Financial Report, released on Thursday (13/3), Achmad Ananda Djajanegara, President Director of ABMM, stated that the company recorded Revenue from Contracts with Customers of IDR 1.2 trillion, down from IDR 1.49 trillion in 2023.

Meanwhile, the gross profit margin dropped to 10.91% in 2024 from 26.27% previously. Operating profit fell to IDR 107.85 billion, a decline of 64.70% from IDR 305.62 billion. Profit before final tax and income tax decreased by 58.52% to IDR 154.82 billion from IDR 373.32 billion, leading to a net profit drop to IDR 139.36 billion from IDR 289 billion.

Alongside the weaker financial performance, the company’s stock price also fell by 13.22%, or IDR 480, to IDR 3,150 over the year. Over six months, the stock slumped by 25.3%, or IDR 1,070, and dropped by 5.41% over the past month.

In the past week, ABMM’s share price declined by 3.08%, or IDR 100. As of Thursday morning’s (13/3) session, the stock continued to drift lower, down 0.32%, or IDR 10 per share. (LK/ZH)