Astra returned to the black in 2001
Astra returned to the black in 2001
The Jakarta Post, Jakarta
Leading car maker PT Astra International Tbk returned to the
black last year after suffering a net loss of Rp 293 billion
(about US$29 million) in the previous year.
The company, which is also involved in agribusiness, financial
services, the timber industry, information technology, and heavy
equipment, said in a statement on Tuesday that its unaudited
profit reached Rp 853 million last year on the back of strong
sales in its automotive division.
Sales rose by six percent to Rp 30.1 trillion last year from
Rp 28.4 trillion in 2000, while operating profit increased to Rp
2.68 trillion from Rp 2.58 trillion.
The company is 32-percent owned by Singapore-based auto
distributor Cycle & Carriage Ltd.
Its shares edged down Rp 25 to close at Rp 2,725 on Tuesday.
Besides the strong sales, the company also attributed the 2001
profit to the weakening of pressure from foreign exchange losses
that year. It suffered Rp 985 billion in foreign exchange losses
that year, as opposed to Rp 2.52 trillion in the previous year.
The rupiah ended at Rp 10,400 to the U.S. dollar by the end of
last year, as opposed to Rp 9,380 by the end of 2000.
The company said that 84.9 percent of its consolidated net
profit came from the automotive division, with car sales
accounting for 4.1 percent of the profit, motorcycle sales 10.3
percent, and automotive components 6.3 percent.
The agribusiness division accounted for 4.7 percent of the net
profit, financial services 4.1 percent, the timber division 2.9
percent, information technology 2.4 percent, and heavy equipment
1 percent.
With its Toyota, Isuzu, Daihatsu, BMW, Peugeot cars, and
Nissan trucks, Astra controlled 46 percent of the country's four-
wheeled vehicle market, which recorded total sales of 299,629
units last year.
"Toyota is the best-selling brand in 2001, with a market share
of 26.7 percent," the company said.
The company also reported a record sale of 932,178 units for
its Honda motorbike last year, a 95.5 percent increase from
476,887 units in the previous year.
It said that the Honda motorbike achieved the feat thanks to
the launching of the Legenda motorbike, which has a better
quality, in addition to being more affordable to the public.
"The market share of the Honda motorbike rose to 52 percent in
2001 from 45 percent in 2000," it said.
The Jakarta Post, Jakarta
Leading car maker PT Astra International Tbk returned to the
black last year after suffering a net loss of Rp 293 billion
(about US$29 million) in the previous year.
The company, which is also involved in agribusiness, financial
services, the timber industry, information technology, and heavy
equipment, said in a statement on Tuesday that its unaudited
profit reached Rp 853 million last year on the back of strong
sales in its automotive division.
Sales rose by six percent to Rp 30.1 trillion last year from
Rp 28.4 trillion in 2000, while operating profit increased to Rp
2.68 trillion from Rp 2.58 trillion.
The company is 32-percent owned by Singapore-based auto
distributor Cycle & Carriage Ltd.
Its shares edged down Rp 25 to close at Rp 2,725 on Tuesday.
Besides the strong sales, the company also attributed the 2001
profit to the weakening of pressure from foreign exchange losses
that year. It suffered Rp 985 billion in foreign exchange losses
that year, as opposed to Rp 2.52 trillion in the previous year.
The rupiah ended at Rp 10,400 to the U.S. dollar by the end of
last year, as opposed to Rp 9,380 by the end of 2000.
The company said that 84.9 percent of its consolidated net
profit came from the automotive division, with car sales
accounting for 4.1 percent of the profit, motorcycle sales 10.3
percent, and automotive components 6.3 percent.
The agribusiness division accounted for 4.7 percent of the net
profit, financial services 4.1 percent, the timber division 2.9
percent, information technology 2.4 percent, and heavy equipment
1 percent.
With its Toyota, Isuzu, Daihatsu, BMW, Peugeot cars, and
Nissan trucks, Astra controlled 46 percent of the country's four-
wheeled vehicle market, which recorded total sales of 299,629
units last year.
"Toyota is the best-selling brand in 2001, with a market share
of 26.7 percent," the company said.
The company also reported a record sale of 932,178 units for
its Honda motorbike last year, a 95.5 percent increase from
476,887 units in the previous year.
It said that the Honda motorbike achieved the feat thanks to
the launching of the Legenda motorbike, which has a better
quality, in addition to being more affordable to the public.
"The market share of the Honda motorbike rose to 52 percent in
2001 from 45 percent in 2000," it said.