INDUSTRI DAN PERDAGANGAN BINTRACO DHARMA (CARS) Q2 2024 earnings summary

Executive summary

• Revenue for the six months ended June 30, 2024 reached Rp3.01 trillion, up 1.8% year-over-year, with net income attributable to owners at Rp77.4 billion, slightly down from Rp78.9 billion in the prior year.

• Gross profit increased to Rp375.1 billion, while total comprehensive income for the period was Rp93.8 billion, compared to Rp95.4 billion in the same period last year.

• The group continues to face capital deficiencies in several subsidiaries, with ongoing restructuring and cost efficiency measures in place.

Financial highlights

• Revenue for H1 2024: Rp3.01 trillion, up from Rp2.96 trillion year-over-year.

• Net income attributable to owners: Rp77.4 billion, down from Rp78.9 billion year-over-year.

• Gross profit: Rp375.1 billion, up from Rp359.6 billion year-over-year.

• Basic EPS: Rp5.16, compared to Rp5.26 in H1 2023.

• Cash and cash equivalents at June 30, 2024: Rp447.8 billion.

Segment performance

• Automotive segment revenue: Rp2.98 trillion, up from Rp2.92 trillion year-over-year.

• Consumer financing revenue: Rp1.9 million, down from Rp1.17 million year-over-year.

• Aftersales revenue: Rp38.0 billion, up from Rp36.6 billion year-over-year.

• Automotive segment contributed the largest share of revenue and profit.