PT Sumber Alfaria Trijaya Tbk (AMRT) Q3 2024 earnings summary

Executive summary

• Net revenue for the nine months ended September 30, 2024 reached Rp88.2 trillion, up from Rp80.0 trillion year-over-year, with net income attributable to owners at Rp2.40 trillion, an increase from Rp2.19 trillion.

• Gross profit rose to Rp18.87 trillion from Rp16.90 trillion year-over-year, with gross margin improving to 21.4% from 21.1%.

• Earnings per share increased to Rp57.77 from Rp52.75 year-over-year.

• Cash and cash equivalents at period end were Rp4.16 trillion, up from Rp4.07 trillion at the previous year-end.

• Total assets grew to Rp36.64 trillion from Rp34.25 trillion as of December 31, 2023.

Financial highlights

• Operating income for the nine months was Rp3.11 trillion, up from Rp2.88 trillion year-over-year.

• EBITDA margin and interest coverage ratios were maintained above required covenants, with EBITDA to interest ratio not less than 2x.

• Total equity attributable to owners increased to Rp15.52 trillion from Rp14.47 trillion year-over-year.

• Cash flow from operations reached Rp5.69 trillion, up from Rp4.04 trillion year-over-year.

• Capital expenditures for the period were Rp4.37 trillion.

Outlook and guidance

• Management continues to focus on network expansion, digital transformation, and operational efficiency.

• The company is monitoring the impact of new accounting standards effective in 2024 and 2025, with no material impact expected.

• No significant changes in capital structure or dividend policy are anticipated.