JAKARTA - PT Adi Sarana Armada Tbk (ASSA) is targeting revenue growth of 20% to Rp 2.03 trillion in 2019. In 2018, ASSA recorded a revenue increase of 10% year on year (yoy) to Rp 1.69 trillion.
ASSA Director Hindra Tanujaya said the company was optimistic it could achieve its target this year due to ASSA’s acquisition of a 50% stake in Japanese automotive auction centre PT JBA. “Another booster is PT Tri Adi Bersama, the company’s parcel delivery business which commenced operations in March 2019,” said Mr Tanujaya as quoted by Kontan.co.id, Tuesday (9/4).
According to Mr Tanujaya, the company’s positive performance in 2018 was driven by an increase in the number of vehicles. “We also made profits from sales of used vehicles and lower interest expenses,” he said.
This year, Mr Tanujaya said, ASSA is targeting the purchase of 6,000 new vehicles. To achieve the target, ASSA has budgeted capital expenditure (capex) of Rp 1 trillion-1.2 trillion this year, of which 80% is sourced from loans while the rest is from the company’s internal cash. (MS)