PT Sumber Alfaria Trijaya Tbk (AMRT) Q2 2024 earnings summary

Executive summary

• Net revenue for the six months ended June 30, 2024 reached Rp59.2 trillion, up 10% year-over-year, with net income attributable to owners at Rp1.79 trillion, a 11% increase from the same period last year.

• Gross profit rose to Rp12.77 trillion, with gross margin improving to 21.6% from 21.2% year-over-year.

• The company distributed cash dividends of Rp1.19 trillion from 2023 net income and maintained a strong capital structure with low leverage.

Financial highlights

• Net revenue: Rp59.2 trillion for H1 2024, up from Rp53.8 trillion in H1 2023.

• Net income: Rp1.86 trillion for H1 2024, up from Rp1.65 trillion in H1 2023.

• Earnings per share: Rp43.21, up from Rp38.84 year-over-year.

• Total assets: Rp35.13 trillion as of June 30, 2024, up from Rp34.25 trillion at year-end 2023.

• Total equity: Rp16.19 trillion as of June 30, 2024.

Segment performance

• Food segment contributed Rp42.15 trillion in net revenue and Rp8.42 trillion in gross profit for H1 2024.

• Non-food segment contributed Rp17.07 trillion in net revenue and Rp4.35 trillion in gross profit.

• Java (excluding Jabodetabek) and outside Java regions showed strong revenue growth, with total segment assets at Rp35.13 trillion.