Company Report
29 October 2026
ANTM’s 9M26 results were in line, with revenue of IDR 88.48 tn (+22.8% YoY, 74.3% of ou...
Company Report
29 October 2026
BBCA continued to deliver resilient earnings in 9M26, with profit growth gaining moment...
26 April 2021
Amid the large portion of revenue from recurring income, PWON must be able to carry out cost efficiency, in order to maintain margin level. Lower revenue (-44.8% YoY) resulted in PWON's profit dropping 65.8% YoY. Meanwhile, asset acquisition and the opening of hotel & mall at the end of last year raised optimism for the growth of recurring income this year.
19 April 2021
We believe strong noodle and agribusiness sales will boost up INDF’s sales outlook. Meanwhile, we saw the overall margin remain stable despite rising commodity prices and weakening IDR against USD. Thus, we maintain BUY recommendation.
16 April 2021
Throughout FY20, ASII booked an income of IDR 175 trillion; down by 26.2% compared to FY19. Without taking into account the gains from the sale of Bank Permata, net profit was depressed by 52.6% yoy. The agribusiness sector performed best, along with the increasing CPO price. Higher commodity prices and relaxed sales tax on luxury goods (PPnBM) for 4W vehicles are expected to boost ASII’s performance this year.
16 April 2021
Throughout 2020, JSMR managed to book a net profit of IDR501.0 billion, +562.1% QoQ, -77.1% YoY. This gain is in line with our estimates where in the second semester JSMR will book another income growth in the toll road segment. Traffic has started to recover since social restrictions were relaxed. We are optimistic that in 2021, both the top and bottom line of JSMR will grow.
15 April 2021
WIKA booked an income of IDR16.53 trillion (-39% YoY) in FY20. Margins were recorded lower than FY19, with additional financial costs that increased by 38%, suppressing FY20 profit down by 92% to IDR186 billion. New contract acquisition in FY20 reached 109% from target. New contracts from the infrastructure and construction fell 67% YoY. Meanwhile, to fund signed projects, WIKA needs to pay close attention to the leverage capacity that increased in FY20.
