Two Businesses Support Astra's (ASII) Performance
PT Astra International Tbk (ASII) recorded performance pressure in the first half of 2026 due to a sharp decline in the contribution from its Mining Solutions and Heavy Equipment businesses. This condition caused Astra’s net profit, including non-recurring items, to plummet by 19% to Rp 12.5 trillion.
President Director of Astra International, Rudy, stated that the Group’s performance in the first half of this year was still supported by growth in the automotive and financial services businesses. However, the lower contribution from the Mining Solutions and Heavy Equipment businesses weighed on Astra’s consolidated performance.
“In the first half of 2026, the Group recorded an increase in contribution from the Automotive and Financial Services businesses. However, the decrease in contribution from the Mining Solutions and Heavy Equipment businesses resulted in a decline in the Group’s overall net profit,” Rudy said during a Public Expose Live on Thursday (10/9/2026).
Consolidated net revenue for Astra in the first half of 2026 was recorded at Rp 157.9 trillion, a 3% decrease compared to the same period last year. Meanwhile, net profit excluding non-recurring items fell by 7% to Rp 14.9 trillion.
When accounting for non-recurring items of Rp 2.4 trillion, primarily arising from equity investment fair value adjustments and impairments, Astra’s net profit stood at Rp 12.5 trillion, a 19% decline.
The greatest pressure came from the Mining Solutions and Heavy Equipment business. Net profit for this segment, excluding non-recurring items, plunged 46% to Rp 2.7 trillion.
This decline was triggered by minimal gold sales from the Martabe mine, a drop in heavy equipment sales, and weakening volumes in mining services and coal mining due to a reduction in the national coal production quota (RKAB allocation).
Komatsu heavy equipment sales fell 27% to 1,994 units. Meanwhile, overburden removal volumes in the mining services business decreased by 10% to 481 million bank cubic metres.
The coal mining business was also under pressure, with its own coal sales dropping 10% to 6 million tonnes. In the gold business, sales dropped drastically to just 23,000 ounces from 125,000 ounces in the first half of 2025, due to the temporary suspension of Martabe gold mine operations earlier this year. Operations at the mine have since resumed since the second quarter of 2026.
Pressure intensified after this segment recorded non-recurring items of Rp 2.1 trillion in the geothermal and nickel divisions. When accounting for these items, the net profit for the Mining Solutions and Heavy Equipment segment plummeted 88% to Rp 607 billion.
The Support Pillars
Amidst the pressure in the mining sector, two of Astra’s main businesses actually recorded growth. The Automotive business booked a 9% increase in net profit to Rp 5.9 trillion. This growth was primarily supported by an increase in new car sales and contributions from the components division.
National car sales in the first half of 2026 rose by 16% to 437,000 units, while Astra Group’s car sales increased by 10%. Toyota and Daihatsu remained the first and second best-selling car brands in Indonesia, with Astra’s market share reaching 51%.
In the two-wheel segment, national motorcycle sales grew by 1% to 3.1 million units. Honda motorcycle sales also rose by 1%, with a market share of 77%. The net profit contribution from the Components division even grew by 23% to Rp 921 billion. Meanwhile, the Mobility business recorded a 4% increase in used car sales to 15,700 units, and the number of vehicles under contract increased by 13% to 29,200 units.
Meanwhile, the Financial Services business recorded a net profit of Rp 4.6 trillion, a 6% growth. This growth was driven by an increase in consumer financing and the performance of insurance companies.
New financing value in the consumer finance division rose by 10% to Rp 61.8 trillion. Heavy equipment financing also increased by 1% to Rp 8.1 trillion.
Furthermore, the net profit contribution from the motorcycle financing business rose by 4% to Rp 2.4 trillion, while the car financing business increased by 6% to Rp 1.2 trillion. The net profit contribution from the heavy equipment financing business grew by 11% to Rp 130 billion.
Focusing on Three Core Businesses
In May 2026, Astra announced a new Strategy Roadmap focusing on three Core Businesses: Automotive, Financial Services, and Mining Solutions and Heavy Equipment. The new strategy rests on four pillars: Focus, Clarity, Discipline, and Commitment.
Astra will concentrate resources and investment on these three core businesses, while businesses outside the core will be managed as Wider Businesses, with an emphasis on synergy within the Group’s ecosystem and capabilities.
The company is also tightening its capital allocation framework, considering returns for shareholders. “We remain focused on executing our new corporate strategy. We are confident in Astra’s operational excellence, resilience, and strong financial balance sheet, supported by disciplined capital allocation,” said Rudy.