INDUSTRI DAN PERDAGANGAN BINTRACO DHARMA (CARS) Q4 2024 earnings summary

Executive summary

• Consolidated financial statements for the year ended December 31, 2024, audited with an unqualified opinion in accordance with Indonesian Financial Accounting Standards.

• The group operates in automotive, consumer financing, and aftersales, with a broad network of subsidiaries and associates.

• Management and auditor highlight significant uncertainties regarding the going concern of several subsidiaries, especially PT Andalan Finance Indonesia (AFI), due to license revocation and capital deficiencies.

Financial highlights

• Total consolidated revenue for 2024 was Rp6.19 trillion, down from Rp6.49 trillion in 2023.

• Net income attributable to owners of the parent was Rp210.4 billion, up from Rp173.8 billion in 2023.

• Total assets as of December 31, 2024, were Rp3.50 trillion, a decrease from Rp3.87 trillion at year-end 2023.

• Total liabilities decreased to Rp2.40 trillion from Rp2.99 trillion, while total equity increased to Rp1.10 trillion from Rp0.88 trillion.

• Basic earnings per share rose to Rp14.03 from Rp11.58 year-over-year.

Outlook and guidance

• Management plans to address going concern issues in subsidiaries through cost efficiency, restructuring, and financial support from shareholders.

• The group is monitoring market and economic conditions, including interest rate and credit risks, and is focused on maintaining optimal capital structure.