New Kijang van pushes up Astra revenues

JAKARTA (JP): The country's largest automaker PT Astra International reported an impressive result in the first semester of this year on the back of increased demand for Toyota Kijang and Honda motorcycles, the company said.

The company announced yesterday that its net profit increased 91 percent to Rp 349 billion (US$151.53 million) in the first semester this year from Rp 183 billion in the corresponding period last year.

Net revenue rose 11.6 percent to Rp 7.64 trillion in the January to June period from Rp 6.84 trillion in the same period last year.

The automotive division contributed 77.7 percent to the company's revenue, financial services division 10 percent, electronics and consumer goods 2.9 percent and heavy industries division 1.1 percent.

The company said heavy industries' contribution declined in the first semester because it no longer consolidated PT United Tractor, one of its subsidiaries.

Of the automotive division's 77.7 percent contribution, Astra four-wheel vehicles, which include Toyota, Isuzu, BMW, Peugeot, Daihatsu and Nissan, accounted for 54.8 percent, rising from 45.5 percent the previous year.

Honda motorcycle sales contributed about 19.3 percent and components 3.5 percent.

The company said sales in the domestic car market increased 31 percent to 200,000 in the first semester this year. Of these, Astra International sold 96,400 vehicles, a 26 percent increase from the first semester last year.

The increase in Astra's car sales mainly resulted from the increased demand of new Kijang and Isuzu Panther vans, the company said.

Astra International estimated total car sales would reach 400,000 this year, of which Astra products would contribute about 200,000.

Astra International also said yesterday the domestic motorcycle market was 858,900 in the January to June period this year with Astra International selling 411,750 motorcycles.

The company expected the sales of its Honda motorcycles would reach 900,000 by the end of this year, out of a total market of 1.8 million motorcycles.

The company would also plan to float shares of its subsidiaries -- PT Bank Universal, PT Astra Argo Lestari and PT Astra Dian Lestari -- on the local exchanges.

Bank Universal and car-component producer PT Astra Dian Lestari will make their capital debut later this year, while Astra Agro Niaga early next year.

Astra Agro Niaga is licensed to develop 300,000 hectares of crude oil palm estates in Sumatra and Kalimantan. (aly)