INDUSTRI DAN PERDAGANGAN BINTRACO DHARMA (CARS) Q1 2025 earnings summary

Executive summary

• Revenue for Q1 2025 reached Rp1.43 trillion, down 13% year-over-year, with net profit attributable to owners at Rp48.4 billion, a 5% decrease from Q1 2024.

• Automotive segment remains the largest contributor, followed by aftersales and consumer financing.

• Several subsidiaries reported capital deficiencies, raising substantial doubt about their going concern status.

Financial highlights

• Q1 2025 consolidated revenue: Rp1.43 trillion, down from Rp1.65 trillion in Q1 2024.

• Net profit attributable to owners: Rp48.4 billion, compared to Rp50.9 billion in Q1 2024.

• Gross profit margin: 9.5% in Q1 2025, down from 12.5% in Q1 2024.

• Basic EPS: Rp3.23, compared to Rp3.39 in Q1 2024.

• Total assets as of March 31, 2025: Rp3.40 trillion; total equity: Rp1.15 trillion.

Outlook and guidance

• Management is focused on cost efficiency, restructuring, and operational streamlining for subsidiaries with capital deficiencies.

• Plans include branch closures, organizational streamlining, and continued asset recovery for AFI.

• SDC and other subsidiaries plan to seek shareholder support and new business opportunities.