INDUSTRI DAN PERDAGANGAN BINTRACO DHARMA (CARS) Q3 2024 earnings summary

Executive summary

• Revenue for the nine months ended September 30, 2024 reached Rp4.56 trillion, a slight decrease from Rp4.60 trillion in the same period last year.

• Net profit attributable to owners was Rp136.88 billion, down from Rp143.81 billion year-over-year.

• Total assets as of September 30, 2024 stood at Rp3.63 trillion, a decrease from Rp3.87 trillion at year-end 2023.

• The group continues to face capital deficiencies and going concern issues in several subsidiaries.

Financial highlights

• Gross profit for the nine months was Rp562.18 billion, slightly down from Rp565.52 billion year-over-year.

• Operating profit reached Rp247.02 billion, a decrease from Rp272.65 billion in the prior year.

• Net comprehensive income for the period was Rp148.74 billion, compared to Rp155.43 billion last year.

• Basic earnings per share for the period was Rp9.13, down from Rp9.59 year-over-year.

• Cash and cash equivalents at period end were Rp422.15 billion, down from Rp464.48 billion at year-end 2023.

Segment performance

• Automotive segment contributed Rp4.50 trillion in revenue, with aftersales at Rp56.81 billion and consumer financing at Rp4.38 million.

• Automotive gross profit was Rp551.89 billion, aftersales gross profit was Rp15.86 billion.

• Financing segment reported a net loss before tax of Rp13.63 billion.