Hartadinata Abadi Posts 101% Profit Surge as Gold Demand Soars
Hartadinata Abadi Posts 101% Profit Surge as Gold Demand Soars
Jakarta. Hartadinata Abadi (HRTA), one of Indonesia’s leading gold retailers and manufacturers, reported strong financial performance in the first half of 2026, driven by higher gold prices and increased sales volumes.
The company recorded revenue of Rp 33.80 trillion ($1.87 billion) in the January-June period, up 124.61% from Rp 15.05 trillion a year earlier.
Net profit doubled to Rp 700.01 billion from Rp 348.51 billion in the first half of 2025, representing 100.86% year-on-year growth.
Hartadinata said the performance was supported by a 46.74% increase in sales volume of pure gold to 13 tons. Its average selling price also rose 53.21% year-on-year to Rp 2.59 million per gram.
“The achievement in the first half of this year shows that our strategy to strengthen an integrated gold business ecosystem has delivered positive results,” Hartadinata President Director Sandra Sunanto said in a statement on Tuesday.
“With increasingly solid business fundamentals, support from growing demand from financial institutions and bullion banks, and the continued promising outlook for the gold industry, we will remain focused on creating sustainable growth, strengthening our competitiveness and delivering long-term value to all shareholders,” she added.
Wholesale sales remained Hartadinata’s largest business segment, accounting for 89.33% of total sales. Financial institutions and bullion banks alone contributed 80.34%, while retail sales accounted for 10.31% and the pawn business for 0.33%.
The company also reported stronger profitability. Return on assets rose to 12.33%, while return on equity increased to 37.37%. Its interest-bearing debt-to-equity ratio remained at 1.11 times, which the company said reflected a healthy capital structure amid continued business expansion.
Hartadinata also highlighted relatively stable gold prices in July, with the international gold price averaging $4,072.54 per troy ounce. Despite the stability during the month, gold remained 21.99% higher than a year earlier and 2.39% higher on a year-to-date basis.
In Indonesia, the average gold price reached Rp 2.36 million per gram, up 34.66% year-on-year and 5.06% since the beginning of the year.
The strong performance comes as Indonesian demand for gold bars and coins accelerates. According to the World Gold Council’s Gold Demand Trends report for the second quarter of 2026, Indonesian demand for bars and coins jumped 40% from a year earlier to 15 tons.
The increase made Indonesia one of the world’s strongest-performing gold investment markets during the quarter, as a weaker rupiah and economic uncertainty encouraged investors to seek refuge in precious metals.
The surge in investment demand came even as gold prices retreated from record highs reached earlier in the year.
Jewelry demand, meanwhile, fell 10% year-on-year in Indonesia, marking its 13th consecutive quarterly decline. The World Gold Council said consumers facing economic uncertainty are increasingly shifting toward lower-purity jewelry as they adjust to elevated gold prices.
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