In 1H20, ASII booked a decline in total revenue to IDR 89.8 trillion, down by 22.7% from the same period last year at IDR116.2 trillion. However, the company still booked an increase in net income by 6.8% supported by the divestment proceeds of Bank Permata. ASII’s two main contributing segments, Automo-tive and Heavy Machineries experienced significant dive in sales by -33.67% and -23.68% YoY respectively. Meanwhile, its EBITDA margin in semester I/2020 also fell to 13.44% (from 16.38% in 1H19). However, we note that the positive side of ASII’s finan-cial position can be seen in an improved debt ratio. It is marked with the Net Gearing level at 23.16% or down from last year’s position at 40%.
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