Jakarta, CNBC Indonesia \u2014 PT Chandra Daya Investasi Tbk (CDIA), owned\nby conglomerate Prajogo Pangestu, recorded a 61.0% fall in profit\nattributable to owners of the parent, from US$77.6 million to US$30\nmillion in the first nine months of this year.<\/p>\n
According to CDIA\u2019s financial report disclosed to the Indonesia Stock\nExchange (IDX), the decline was due to fair-value gains.<\/p>\n
\u201c[The result was] affected by fair-value gains booked in the same\nperiod of the previous year,\u201d management said on Thursday (29 October\n2026).<\/p>\n
The fall in profit was mainly associated with other gains, which\ndropped sharply from US$45.3 million to US$3.4 million. As a result,\nprofit before tax fell 47.4% to US$44.5 million from US$84.6 million.\nIncome tax expense, meanwhile, rose from US$1.15 million to US$12.3\nmillion.<\/p>\n
Further pressure came from general and administrative expenses, which\nincreased from US$7.8 million to US$13.3 million, and finance costs,\nwhich rose from US$20.9 million to US$40.2 million. Selling expenses\nincreased from US$994,000 to US$1.06 million.<\/p>\n
Some of the pressure was offset by higher finance income, which rose\nfrom US$21.08 million to US$29.8 million. Income from financial assets\nwas broadly flat at US$16.8 million, while the share of profit from\nassociates increased from US$9.05 million to US$10.4 million.\nForeign-exchange gains turned around from a loss of US$1.8 million to a\ngain of US$12.9 million.<\/p>\n
Revenue in the first nine months rose 16.4% to US$122 million from\nUS$104.8 million. Cost of revenue also increased 19.3%, from US$80.7\nmillion to US$96.4 million. Gross profit rose just 6.5% to US$25.6\nmillion from US$24.04 million, while the gross margin narrowed from\n22.9% to 21.0%.<\/p>\n
Management said infrastructure business performance remained stable,\nwith an increased contribution from recurring and contract-based\nrevenue. Third-party customers accounted for about 80% of revenue, while\nmore than 90% of revenue came from contracts, supporting revenue\nvisibility and diversification.<\/p>\n
Investment spending has also expanded the company\u2019s operational\ncapabilities and infrastructure portfolio. As at 30 September 2026, all\nproceeds from its initial public offering earmarked for vessel\ninvestment had been deployed within the group, while 65% of the funds\nallocated to ports and storage had been used.<\/p>\n
Management said CDIA\u2019s projects were progressing towards the target\nof commercial operations in 2027, which would expand its capabilities\nand create potential additional revenue. In the water segment, the\n600-litre-per-second Krenceng II Water Treatment Plant was inaugurated\nin August 2026, strengthening water supply for industrial and\nresidential customers in Cilegon and surrounding areas.<\/p>\n
In the ports and storage segment, CDI entered bitumen storage with a\nnew 12,000-cubic-metre facility in Merak, inaugurated in October 2026.\nThe facility expands storage capacity and supports domestic demand for\ninfrastructure materials.<\/p>\n
In logistics, CDI is continuing to expand and diversify its maritime\nplatform. The Boreas and Novah vessels, each with a capacity of 9,000\ndeadweight tonnes (DWT), have expanded liquid chemical transport\nservices on routes linking China, Thailand and Indonesia. The\nconsolidation of PT Elpi Trans Cargo (ETC) adds tug-and-barge\ncapabilities for dry bulk and offshore support services, including Elara\nDalimbar 1, the first Indonesian-flagged multipurpose support vessel\nwith DP Class III classification.<\/p>\n
CDI\u2019s US$90 million investment for a 40% stake in PT Armada Maritim\nPersada (AMP) has also broadened its exposure to mining logistics and\nport management. The addition of Boreas, Novah, ETC and AMP expands\nCDI\u2019s presence in chemical and industrial transport, mining, oil and\ngas, subsea services, offshore energy and maritime infrastructure. The\ninvestments strengthen recurring revenue, diversify customers and income\nsources, and create opportunities for integrated infrastructure\nservices.<\/p>\n
CDI\u2019s infrastructure platform expansion continues to be supported by\nstrong financial flexibility. As at 30 September 2026, the company had\nliquidity of US$747.9 million to fund projects and support the increased\ncontribution of new assets.<\/p>\n
Its financial position also enabled the company to distribute an\ninterim dividend of US$10.0 million for the first half of 2026, while\npreserving capacity for selective growth.<\/p>\n
Looking ahead, CDI remains focused on delivering sustainable profit\ngrowth through increased contributions from new assets, progress towards\ncommercial operations for its projects, and a diversified base of\nthird-party customers and contract-based revenue.<\/p>\n
\u201cWith financial discipline and investments aligned with market needs,\nthe company continues to strengthen its position as an integrated\ninfrastructure platform supporting industrial and economic growth in\nIndonesia and the region,\u201d management said.<\/p>", "url": "https:\/\/jawawa.id\/newsitem\/prajogo-backed-cdias-third-quarter-profit-falls-61-heres-why-1793274751", "image": "" }, "sponsor": "Okusi Associates", "sponsor_url": "https:\/\/okusiassociates.com" }