ADHI - PT. Adhi Karya (Persero) Tbk

Rp 210

-4 (-1,87%)

JAKARTA – Until the end of the first half of 2023, PT Adhi Karya (Persero) Tbk (ADHI) managed to improve its bottom line significantly, scoring 21% surge in its net profit.

ADHI actually only recorded IDR 100 billion of growth in its revenue in this period, from IDR 6.3 trillion in H1 2022 to IDR 6,4 trillion at the end of June 2023. However, according to the press release today (2/8), thanks to the 18% decrease in its financial expenses, the net profit managed to skyrocket to IDR 12.4 billion.

The Yogyakarta-Bawean Toll Road Project, the Sigli-Banda Aceh Toll Road Project, and the Cisumdawu Toll Project are the three primary contributors to ADHI’s revenue in the first half of 2023. Until June 2023, ADHI has also reportedly secured new contracts worth IDR 14 trillion, growing 20% year-on-year (yoy).

Based on the explanation of ADHI’s management, in order to achieve the performance target this year, the company will prioritise operational excellence, as well as being prudent in selectin projects and adjusting financing with different profiles of each future project. (ZH)