Scoring double-digit proft growth, Adira Finance gains optimism for 2023
JAKARTA – Maintaining optimistic outlook for its performance, PT Adira Dinamika Finance Tbk (ADMF) is targeting to attain new financing growth of up to 14%-20% in 2023. However, the management claims to still be alert and cautious, especially considering the normalisation of automotive industry trend, declining commodity price, and election year of 2024.
Dewa Made Susila, President Director of ADMF, said that the momentum of financing growth, particularly in the automotive segment, will continue to exist. “However, the growth in the second half will not be as potent as the first half,” explained him further, “There will be growth normalisation due to base effect.”
Adira Finance’s performance in H1 2023 was indeed improving. Posting total financing increase to IDR 20.4 trillion, its receivables now reached IDR 50.9 trillion. Then, the net profit in H1 2023 also proliferated 24% year-on-year (yoy) to IDR 818 billion. “Because it is driven by revenue increase of 10% yoy,” added Sylvanus Gani, Chief Financial Officer (CFO) of Adira Finance during the Media Update of Adira Finance’s Performance in H1 2023.
Regarding funding, ADMF reportedly issued bonds and sukuk last July. “Bonds’ issuance is one of Adira’s main sources of funding as it has an extensive tenor and competitive price,” Made revealed, “If the market has prospects, it is possible that in the second half, we will issue another set of bonds.”
Furthermore, according to Made, Indonesia’s stable economic condition allows automotive industry to flourish. “Because in this industry, the most vital things are purchasing power and confidence level of the consumers,” he said. (ZH)