Motor vehicles contribute 76% to Astra's sales

JAKARTA (JP): PT Astra International's motor vehicle division contributed 76 percent of the group's total sales of Rp 12.61 trillion (around US$5.25 billion) last year.

Astra's total sales dropped slightly from Rp 12.61 trillion because of a change in accounting methods in consolidating revenue from heavy equipment maker PT United Tractors, the company said Monday.

The accounting system change to the equity method was made because of the decline in Astra's stake in the company.

Total net profit rose 26.6 percent from Rp 370.9 billion in 1995 to Rp 469.45 billion last year, exceeding the company's Rp 450 billion target.

Net profit per share increased 27 percent from Rp 319 to Rp 404.

The company sold 654,262 Honda motor bikes, up 37 percent from 1995's 476,721 units.

Domestic motor bike sales reached 1.37 million last year.

Four-wheel vehicles assembled by the company -- which include Toyota, Daihatsu, Isuzu, BMW, Peugeot and Nissan Diesel brand names -- reached 160,563 units.

This was about 48 percent of total domestic vehicle sales of 332,036 units.

Commercial vehicle sales reached 146,557 units while passenger vehicles reached 14,006 units.

The financial services division contributed 10.61 percent of the company's sales.

This division includes banking services (Bank Universal), consumer financing (ACC), insurance (Astra Jardine CMG Life and Asuransi Astra Buana) and lend-leasing.

Astra's electronics and consumer goods division, which provides solutions on integrated technology and household electronic equipment, contributed 8.64 percent of company sales.

The agribusiness division, which includes oil palm, rubber, tea and cocoa plantations contributed about 3 percent.

Last year this division planted on about 173,000, of which 60,000 hectares were prepared for harvest. (pwn)