PT Astra 2026 Third Quarter Financial Statements

Jardine Matheson Hldgs Ltd

28 October 2026

 

                                                                                                            28 October 2026


PT Astra International Tbk
2026 Third Quarter Financial Statements

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


For further information, please contact:

Jardine Matheson
Harry Thompson                                                                                 (852) 2843 5343

Astra
Boy Gemino Kalauserang                                                                   (65) 21 5084 3888


28th October 2026

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

2026 THIRD QUARTER FINANCIAL STATEMENTS

Highlights

●      Net income, excluding non-recurring items, recovered in the third quarter and demonstrated an overall resilient year-to-date result of Rp24.6 trillion

●      Earnings per share excluding non-recurring items increased by 1% to Rp616

●      Automotive and Financial Services recorded net income growth of 8% and 6% respectively, offset by weaker performance in Mining Solutions & Heavy Equipment

●      Announced share buyback programmes at United Tractors, Astra Agro Lestari, and voluntary tender offer for Astra Otoparts

"Astra delivered a resilient result in the first nine months of 2026. Group net income excluding non-recurring items remained stable at Rp24.6 trillion (down 12% including non-recurring items), as growth in most of our businesses was offset by challenging conditions in Mining Solutions & Heavy Equipment.

Compared with the previous quarters, performance improved in the third quarter mainly supported by higher mining services volumes, resumption of production at Martabe gold mine and continued growth in the Automotive business. We expect these factors will continue to support performance in the fourth quarter.

We remain disciplined in our capital allocation. From November 2025 to September 2026, the Group completed a total of Rp10.0 trillion in share buybacks. In addition to Astra's ongoing Rp8.0 trillion share buyback programme, United Tractors and Astra Agro Lestari announced new share buyback programmes in October 2026. The Group's capital allocation initiatives also included a voluntary tender offer by Astra for additional shares in Astra Otoparts.

Amidst market volatility, we are confident in the strengths of our Core Businesses and will continue to improve operational efficiency, maintain a strong balance sheet, while pursuing selective growth opportunities. Astra will continue to support Indonesia's economic growth, while creating value for our shareholders and stakeholders."

Rudy
President Director


Astra group ("the Group") Results

	For the period ended 30th September
	2026 Rp bn	2025 Rp bn	Change %
Net revenue	243,869	243,608	0
Net income excluding non-recurring items*	24,565	24,717	(1)
Non-recurring items*	(2,963)	(244)	N/A
Net income	21,602	24,473	(12)
	Rp	Rp
Net earnings per share excluding non-recurring items*	616	611	1
Net earnings per share	541	605	(11)
	As at 30th September 2026 Rp bn	As at 31st December 2025 Rp bn	Change %
Shareholders' funds	238,103	228,906	4
	Rp	Rp
Net asset value per share	5,999	5,692	5

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

Note:

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

●      Earnings per share is calculated based on net income and the weighted average number of shares outstanding, which is affected by share buybacks

The financial results for the nine months ended 30th September 2026 and 2025, as well as the financial position as at 30th September 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 nine months of 2026 was Rp243.9 trillion, stable compared to the same period last year. Net income, excluding non-recurring items, was also stable at Rp24.6 trillion. The Group's overall performance to-date was resilient, underpinned by improved performance across all businesses in the third quarter, which offset the weakness in the first half of the year. Automotive, Financial Services and Wider Businesses continue to record healthy growth, offset by lower contribution from Mining Solutions & Heavy Equipment business.

The Company recognised Rp3.0 trillion of non-recurring items, mainly impairment and fair value adjustments in equity investments. Including these non-recurring items, the Group's reported net income was Rp21.6 trillion, 12% lower than last year.

Net asset value per share at 30th September 2026 increased by 5% to Rp5,999.

Net cash at 30th September 2026, excluding the Group's Financial Services subsidiaries, was Rp1.8 trillion, compared to Rp7.2 trillion at 31st December 2025, mainly due to the acquisition of the Arafura Surya Alam gold mining company and share buybacks. Net debt of the Group's Financial Services subsidiaries was Rp66.7 trillion at 30th September 2026, up from Rp64.9 trillion at 31st December 2025.


Business Activities
The Group's net income by business in the first nine months 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 September
	2026 Rp bn	2025 Rp bn	Change %
Automotive	9,787	9,033	8
Financial Services	7,152	6,731	6
Mining Solutions & Heavy Equipment	5,068	7,079	(28)
Others	2,558	1,874	36
Net Income excl. non-recurring items*	24,565	24,717	(1)
Non-recurring items*	(2,963)	(244)	N/A
Net Income	21,602	24,473	(12)

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

Note:

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

●      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 8% to Rp9.8 trillion, reflecting higher volume sales as well as strong contributions from the Component division.

●      The wholesale motorcycle market increased by 4% to 5.0 million units in the nine months of 2026. Honda motorcycle sales also rose by 3%, with market share remained stable at 77%.

●      The wholesale car market grew by 21% to 679,000 units in the nine months of 2026 and Astra's sales increased by 13%. Toyota and Daihatsu continue to maintain market leadership in Indonesia, with Astra's overall market share at 49%.

●      The Group's Component division posted 15% higher net income contribution to Rp1.4 trillion in the nine months of 2026, with increased contribution from all segments.

Financial Services
The Group's Financial Services business continues to deliver growth, with net income increasing by 6% to Rp7.2 trillion.

●      The Group's consumer finance division saw a 6% increase in net financing receivables to Rp132.0 trillion in the nine months of 2026, compared to December 2025. New amounts financed achieved an 8% increase to Rp92.5 trillion, driven by growth in new automotive and multi-cycle financing. The Group's motorcycle-focused finance division reported a net income contribution of Rp3.6 trillion, 4% higher than last year. Net income from car-focused finance companies increased by 6% to Rp1.9 trillion.

●      The Group's insurance companies reported net income contribution of Rp1.4 trillion, a 9% increase contributed from 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 Rp5.1 trillion, down 28% compared to the prior year. Overall lower results were due to lower gold sales from Martabe gold mine which paused production in the earlier part of the year, as well as the impact of lower national coal production quota (RKAB allocation), which resulted in weaker demand in heavy equipment and mining services, as well as lower coal mining volumes. Nevertheless, performance in the third quarter has seen recovering to achieve a year-on-year growth of 15%.

During the first nine months of 2026, Mining Solutions & Heavy Equipment business recognised non-recurring items of Rp2.2 trillion in its geothermal and nickel divisions. Including these items, reported net income decreased by 59% to Rp2.9 trillion.

●      Mining services division recorded 7% lower overburden removal at 766 million bank cubic metres.

●      Komatsu heavy equipment sales decreased by 17% to 3,000 units, mainly due to lower mining-related machine sales as a result of lower RKAB allocation.

●      Coal sales were down 23% to 7.1 million tonnes and gold sales were at 54,000 oz, compared to 178,000 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 has since resumed 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 Rp2.6 trillion. This is 36% higher compared to the same period last year, mainly driven by improved agribusiness performance supported by higher crude palm oil price and improved productivity, as well as improved property performance following contributions from newly acquired industrial warehouse platform.

The Others segment recorded non-recurring item of Rp766 billion in the nine months of 2026, mainly from fair value loss in equity investments. Including these items, reported net income increased by only 7% to Rp1.8 trillion.

Corporate Actions

●      In addition to Astra's ongoing Rp8.0 trillion share buyback programme, United Tractors announced a share buyback programme of up to Rp2.0 trillion for the period from October to December 2026, while Astra Agro Lestari announced a share buyback programme of up to Rp400 billion for the period from October to December 2026.

●      Astra is conducting a voluntary tender offer for up to 4.95% of Astra Otoparts' shares at Rp3,600 per share, with a maximum transaction value of approximately Rp858 billion. The tender offer period runs from 13 October to 11 November 2026. If all shares subject to the voluntary tender offer are acquired, Astra's ownership in Astra Otoparts will increase from 80% to 84.95%.

Prospects
Amidst market volatility, we are confident in the strengths of our Core Businesses and will continue to improve operational efficiency, maintain a strong balance sheet, while pursuing selective growth opportunities. Astra will continue to support Indonesia's economic growth, while creating value for our shareholders and stakeholders.

Rudy
President Director
28th October 2026

For further information, please contact:

PT Astra International Tbk

Boy Gemino Kalauserang, Executive in Charge

Tel: +62 - 21 - 5084 3888

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About Astra

Astra is one of Indonesia's largest public companies, comprising 323 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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