Astra profit falls 19% as mining and heavy equipment weigh
JAKARTA – PT Astra International Tbk (ASII), the Indonesian multi-sector holding company controlled by Jardine Cycle & Carriage Limited, reported net profit of IDR 12.53 trillion for the first half of 2026.
The figure was down 19% year on year from IDR 15.51 trillion in the corresponding period last year.
ASII president director Rudy said the group recorded a decline in contributions from its mining and heavy equipment businesses, "resulting in a decline in the group's overall net profit".
Nevertheless, Rudy said earnings contributions from Astra's automotive and financial services businesses remained robust in the first half of 2026.
According to the company's statement, net profit from the automotive segment rose 9% year on year to IDR 5.91 trillion in the first half, while net profit from financial services increased 6% to IDR 4.64 trillion. Profit from the mining and heavy equipment solutions segment, however, fell 46% to IDR 2.7 trillion.
Combined with IDR 1.6 trillion in profit from other businesses and offset by an investment impairment charge of IDR 2.35 trillion, Astra's consolidated net profit stood at IDR 12.53 trillion for the first half.
The decline in the mining and heavy equipment solutions segment was attributed to weaker sales from the Martabe gold mine and the impact of lower national coal production quotas.
To offset part of the decline, Rudy said in the company's official statement that the mining and heavy equipment solutions business recorded IDR 2.1 trillion in non-recurring items from its geothermal and nickel operations.
Rudy added that Astra would continue implementing the group's new corporate strategy, introduced in the second quarter, with the aim of delivering stable and sustainable returns for shareholders.
The strategy focuses on optimising Astra's three core businesses: automotive, financial services, and mining and heavy equipment solutions.
The company also plans to maintain disciplined capital allocation, dividend distributions, share buybacks, and its leadership transformation programme. (KR/ZH)
