Astra International: Company Profile of a Leading Indonesian Conglomerate

Astra International's financial figures were not immune to the effects of international financial turmoil in 2013. The company's performance in the agribusiness, heavy equipment and mining businesses were hurt by soft commodity prices, while the automotive business segment saw price hikes of raw materials, components and completely built-up (CBU) products with rupiah depreciation against the US dollar in 2013. Astra's financial services business suffered margin compression as the central bank of Indonesia raised its key interest rate (BI rate) and lower liquidity gradually dominated the global financial markets in the second half of 2013.

But because of the company's diverse business portfolio, it could sustain overall performance. Over 2013, the company posted a revenue growth of 3 percent to IDR 193.9 trillion (USD $17.2 billion) from 2012. Net income, however, declined slightly (0.02 percent) to IDR 19.4 trillion (USD $1.7 billion), due to higher employee salaries and selling expenses.

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Astra International's stock chart shows a sharp fall in early June 2012 as the company conducted a 1:10 stock split, thus making the company's shares more affordable and increasing its liquidity

Astra International's Financial Highlights:

	2007	2008	2009	2010	2011	2012	2013
Net Revenue	70,183	97,064	98,526	129,038	162,564	188,053	193,880
Gross Profit	16,489	21,730	22,771	25,921	32,034	36,200	35,311
Net Profit	6,519	9,191	10,040	14,366	17,785	19,421	19,417
Total Assets	63,520	80,740	88,938	113,362	154,319	182,274	213,994
Total Liabilities	31,512	40,163	40,006	54,559	78,481	92,460	107,806
Net Earnings per Share¹	161	227	248	355	439	480	480
Dividend per Share¹ ²	64	87	112	160	198	216	216
P/E Ratio (x)	-	-	-	-	16.2	14.4

^{in billion of IDR rupiah, unless stated otherwise
¹ in IDR rupiah
² all figures adjusted to stock split
Source: Astra International, Annual Report 2013}

Future Projection Financial Performance Astra International:

	2012	2013	2014F	2015F
Net Revenue	188.1	193.9	228.9	248.0
Net Profit	19.4	19.4	22.6	24.7
EBITDA	25.8		32.1	35.5
Net Earnings per Share¹	480	480	557	609
P/E Ratio (x)	14.4	14.4	12.6	11.5

^{in trillion of IDR (rupiah), unless stated otherwise
¹ in IDR (rupiah)
Sources: Astra International, Annual Report 2013 & Investor Daily}

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