Significant Improvement in 3Q20 Results. ASII booked net revenue of IDR 40,554 Bn in Q3/2020 (up 13.3% QoQ) which amounts to a 9M20 total sales of IDR 130,349 Bn or down by 26.4% YoY. An encouraging sign of improvement was reflected in 3Q20 operating income which improved to IDR 2,896 Bn (+39.4% QoQ). This translates into a 9M20 net income of IDR 16,846 Bn (including gains from Bank Permata sale) or down by 17.3% YoY.
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