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Coal Average Selling Price Increase In the first semester of 2024, AVIA posted a flat profit compared to the same period last year, at IDR 808.1B in 1H24 (1H23: IDR 807.6B). Sales revenue still grew +3.21% YoY to IDR 3.62T in 1H24 (1H23: IDR 3.51T). The stagnant performance was caused by a decline in 2Q24, where revenue fell by -0.63% YoY and -9.95% QoQ to IDR 1.71T and net profit contracted by -7.32% YoY and -18.9% QoQ to IDR 362B in 2Q24. This weakening revenue is a challenge faced by AVIA, as the purchasing power of the community is quite eroded. This was reflected in the decline in both volume and nominal sales in 2Q24. Other than that, several competitors in the paint and coatings industry have also shown more aggressive marketing strategies, causing AVIA to increase its budget for marketing purposes. Asset Growth In the first semester of 2024, AVIA posted a flat profit compared to the same period last year, at IDR 808.1B in 1H24 (1H23: IDR 807.6B). |
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