PT Astra 2026 First Half Financial Statements

Jardine Matheson Hldgs Ltd

30 July 2026

 

                                                                                                            30 July 2026


PT Astra International Tbk
2026 First Half Financial Statements

The following announcement was issued today by the Company's subsidiary, Jardine Cycle & Carriage Limited, in respect of its subsidiary, PT Astra International Tbk.


For further information, please contact:

Jardine Matheson
Harry Thompson                                                                                 (852) 2843 5343

Astra
Boy Kelana Soebroto                                                                          (65) 21 5084 3888


30th July 2026

PT ASTRA INTERNATIONAL TBK (the "Company" or "Astra")

2026 FIRST HALF FINANCIAL STATEMENTS

Highlights

●      Earnings growth in Automotive and Financial Services at 9% and 6%, respectively, offset by weaker performance from Mining Solutions & Heavy Equipment

●      Repositioned the Group's strategy to focus on three Core Businesses

●      Announced new share buyback programmes of up to Rp8 trillion at Astra and Rp2 trillion at United Tractors

●      Adopted a long-term management share ownership program ("MSOP")

●      Earnings per share excluding non-recurring items decreased by 6% to Rp372 (down 18% including non-recurring items)

"In the first half of 2026, the Group recorded higher contributions from Automotive and Financial Services businesses. However, the lower contribution from its Mining Solutions & Heavy Equipment business resulted in an overall decline in the Group's earnings.

In May 2026, we presented our new corporate strategy, which was aimed at delivering stable and sustainable shareholder returns. The strategy centred around the Group's focus on its three Core Businesses: Automotive, Financial Services and Mining Solutions & Heavy Equipment; establishment of a more disciplined capital allocation framework, including dividends and share buybacks; as well as commitment to transform through leadership alignment.

Astra has announced a new share buyback programme of up to Rp8 trillion over the next 12 months, which was approved at the Extraordinary General Meeting of Shareholders held on 17 July 2026. In addition, United Tractors has also announced a new buyback programme of up to Rp2 trillion over the next three months. Previously, since November 2025, Astra and United Tractors had completed a total of Rp7.4 trillion of share buyback programmes as at end of June 2026. In addition, Astra has implemented management incentives alignment through the MSOP programme.

Amidst the current uncertain global environment, we remain focused on execution of our new corporate strategy. We are confident in Astra's operational excellence and resilience, as well as balance sheet strength, underpinned by disciplined capital allocation to navigate market challenges. We will continue to support Indonesia's economic growth, while positioning the Group to deliver improved total shareholder returns as well as achieving sustainable long-term growth."

Rudy
President Director


Astra group ("the Group") Results

	For the period ended 30th June
	2026 Rp bn	2025 Rp bn	Change %
Net revenue	157,913	162,857	(3)
Net income excluding non-recurring items*	14,892	16,041	(7)
Non-recurring items*	(2,359)	(526)	N/A
Net income	12,533	15,515	(19)
	Rp	Rp
Net earnings per share excluding non-recurring items*	372	396	(6)
Net earnings per share	313	383	(18)
	As at 30th June 2026 Rp bn	As at 31st December 2025 Rp bn	Change %
Shareholders' funds	230,068	228,906	1
	Rp	Rp
Net asset value per share	5,763	5,692	1

* Non-recurring items are mainly fair value adjustments in equity investments and impairment

Note: The Group uses profit attributable to owner of the parent for net income

The financial results for the six months ended 30th June 2026 and 2025, as well as the financial position as at 30th June 2026 are unaudited and have been prepared in accordance with Indonesian Financial Accounting Standards.

PRESIDENT DIRECTOR'S STATEMENT

Performance
The Group's consolidated net revenue in the first half of 2026 was Rp157.9 trillion, 3% lower than last year. Net income, excluding non-recurring items, declined by 7% to Rp14.9 trillion. Despite strong performance in most of the businesses, the Group's overall performance was impacted by lower contribution from its Mining Solutions & Heavy Equipment business, reflecting minimal contribution from the gold mining division, lower heavy equipment sales, and lower volumes in mining services and coal mining divisions.

The Company recognized Rp2.4 trillion of non-recurring items, mainly fair value adjustments in equity investments and impairment. With these non-recurring items, the Group's net income was Rp12.5 trillion, 19% lower than last year.

The net asset value per share at 30th June 2026 increased by 1% to Rp5,763.

Net debt at 30th June 2026, excluding the Group's Financial Services subsidiaries, was Rp6.0 trillion, compared to net cash of Rp7.2 trillion at 31st December 2025, mainly due to the acquisition of Arafura Surya Alam, a gold mining company, share buyback and working capital movement. Net debt of the Group's Financial Services subsidiaries was Rp67.0 trillion at 30th June 2026, up from Rp64.9 trillion at 31st December 2025.

Strategy Roadmap

In May 2026, Astra unveiled its new Strategy Roadmap. This represents a fundamental mindset shift to deliver sustainable total shareholder returns, built upon a renewed sense of Focus, Clarity, Discipline, and Commitment.

●      Focus: Focus on its three Core Businesses, namely Automotive, Financial Services and Mining Solutions & Heavy Equipment.

●      Clarity: Clear framework to manage its Wider Businesses, emphasizing those with synergies on Astra ecosystem and capabilities.

●      Discipline: Clarified its capital allocation and investment criteria, with shareholder returns in mind.

●      Commitment: Commit to the new transformation through leadership alignment with the interests of shareholders and stakeholders.

Business Activities
To reflect the new corporate strategy, we have adopted a revised reporting format to focus on three Core Businesses beginning in the first half of 2026, with all contributions outside of these Core Businesses reported under Others.

The Group's net income by business in the first half of 2026, compared with the same period last year, is set out in the table below:

	Net Income by Business
	For the period ended 30th June
	2026 Rp bn	2025 Rp bn	Change %
Automotive	5,914	5,404	9
Financial Services	4,646	4,374	6
Mining Solutions & Heavy Equipment	2,704	5,022	(46)
Others	1,628	1,241	31
Net Income excl. non-recurring items*	14,892	16,041	(7)
Non-recurring items*	(2,359)	(526)	N/A
Net Income	12,533	15,515	(19)

* Non-recurring items are mainly fair value adjustments in equity investments and impairment

Note:

●      The Group uses profit attributable to owner of the parent for net income

●      Starting this period, healthcare and other non-automotive investments, as well as fair value adjustments previously reported under the Automotive have been reclassified from Automotive to Others.

Automotive

Net income from the Group's Automotive business increased by 9% to Rp5.9 trillion, compared with the same period last year, largely contributed by healthy unit growth from new car sales and strong contributions from the Component division.

●      The wholesale motorcycle market increased by 1% to 3.1 million units in the first half of 2026. Honda motorcycle sales also rose by 1%, with a market share of 77%.

●      The wholesale car market grew by 16% to 437,000 units in the first half of 2026, while the Group's sales increased by 10%. Toyota and Daihatsu continue to lead as the first and second best-selling car brands in Indonesia, with the Group's overall market share at 51%.

●      The Group's Component division posted 23% higher net income contribution to Rp921 billion in the first half of 2026, with higher contribution from all segments.

●      The Group's Mobility division booked a 4% increase in used car sales to 15,700 units and a 13% increase in vehicles under contract to 29,200 units.

Financial Services
The Group's Financial Services business continues to demonstrate resilient growth, with net income increased by 6% to Rp4.6 trillion.

●      The Group's consumer finance division saw a 10% increase in new amounts financed to Rp61.8 trillion, driven by growth in automotive and multi-cycle financing. Motorcycle-focused finance division reported a net income contribution of Rp2.4 trillion, 4% higher than last year. Net income contribution from the Group's car-focused finance companies increased by 6% to Rp1.2 trillion.

●      The Group's heavy equipment-focused finance division saw new amounts financed increased by 1% to Rp8.1 trillion. The net income contribution from this division increased by 11% to Rp130 billion.

●      The Group's insurance companies reported net income contribution of Rp906 billion, a 7% increase, due to higher operating and investment income.

Mining Solutions & Heavy Equipment

The Group's Mining Solutions & Heavy Equipment business reported net income (excluding non-recurring items) of Rp2.7 trillion, down 46% compared to the prior year. The lower results were due to minimal gold sales from Martabe gold mine, as well as the impact of lower national coal production quota (RKAB allocation), which resulted in weaker demand in heavy equipment, mining services, as well as lower coal mining volumes.

During the first half of 2026, Mining Solutions & Heavy Equipment business recognised non-recurring items of Rp2.1 trillion in its geothermal and nickel divisions. Including these items, reported net income decreased by 88% to Rp607 billion.

●      Mining services division recorded 10% lower overburden removal at 481 million bank cubic metres.

●      Komatsu heavy equipment sales decreased by 27% to 1,994 units, due to lower big machine sales in the mining sector as a result of lower RKAB allocation.

●      Coal mining division recorded 10% lower own coal sales of 6.0 million tonnes. Gold mining division recorded a significant decline in gold sales at 23,000 oz, compared to 125,000 oz during the same period of last year, as a result of the paused operation at Martabe gold mine in the earlier part of the year. The mine resumed its operation in second quarter.

Others
Total net income from the Others segment, which primarily reflects the Group's Wider Businesses, excluding non-recurring items, was Rp1.6 trillion. This is 31% higher compared to the same period last year, mainly driven by improved agribusiness performance supported by higher crude palm oil price and sales volume, as well as improved property performance following contributions from newly acquired industrial warehouse platform.

The Others segment recorded non-recurring fair value loss of Rp259 billion in the first half of 2026, compared to Rp484 billion in the same period last year. The fair value loss reflects mainly the mark-to-market fluctuation of the Group's equity investments.

Corporate Actions

●      Since November 2025, Astra and United Tractors had completed a total of Rp7.4 trillion of share buyback programmes as at end of June 2026, underscoring their commitment to improving total shareholder returns. Astra further announced a new share buyback programme of up to Rp8 trillion for a 12-month starting in July. United Tractors also announced a new share buyback programme of up to Rp2 trillion for a 3-month period starting in July. These actions reaffirm our disciplined capital allocation framework and commitment to enhancing long-term shareholder returns.

●      Astra has also adopted a long-term MSOP in July, further aligning management incentives with long-term value creation.

Prospects
Amidst the current uncertain global environment, we remain focused on execution of our new corporate strategy. We are confident in Astra's operational excellence and resilience, as well as balance sheet strength, underpinned by disciplined capital allocation to navigate market challenges. We will continue to support Indonesia's economic growth, while positioning the Group to deliver improved total shareholder returns as well as achieving sustainable long-term growth.

Rudy
President Director
30th July 2026

For further information, please contact:

PT Astra International Tbk

Boy Kelana Soebroto, Chief of Corporate Affairs

Tel: +62 - 21 - 5084 3888

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About Astra

Astra is one of Indonesia's largest public companies, comprising 324 subsidiaries, joint ventures, and associate companies, supported by more than 190,000 employees. The company's diversified portfolio includes three Core Businesses, Automotive, Financial Services, Mining Solutions & Heavy Equipment, and a group of Wider Businesses.

The Company has a sustainability framework which includes Astra's 2030 Sustainability Aspirations. It will guide Astra in the transition journey to be a more sustainable business by 2030 and beyond. Astra wishes to contribute to the strength and resilience of the Indonesian economy while supporting an inclusive and prosperous society.

Astra has a sustainable public contribution focused on village development and strengthening through the Desa Sejahtera Astra program, which has reached more than 1,500 Desa Sejahtera Astra across 35 provinces throughout Indonesia. Desa Sejahtera Astra program consists of four main areas: health, education, environment and entrepreneurship and is supported by nine foundations that contribute to Indonesia's economic growth while supporting an inclusive and prosperous society.

In line with the Desa Sejahtera Astra program, Semangat Astra Terpadu Untuk (SATU) Indonesia Awards appreciate young innovator and the best Desa Sejahtera Astra and local champion fostered by Astra. Since its launch in 2010, SATU Indonesia Awards have recognized 792 young Indonesians who actively collaborate with Desa Sejahtera Astra. 

For more about Astra, visit astra.co.id, and follow us on Instagram @satu_indonesia, TikTok @satu_indonesia, YouTube SATU Indonesia, X (Twitter) @satu_indonesia, LinkedIn PT Astra International Tbk, and Facebook Semangat Astra Terpadu. 

 

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