Aldira Sunrise 31 Oktober 2024

• Automotive: Gaikindo revises national car sales target FY24
The Association of Indonesian Automotive Industries (Gaikindo) revised its projection for
national car sales from the previous 1.1M units to 850,000 units by the end of 2024. This
reduction in target is a response to the pressure that continues to haunt the four-wheeled
vehicle market in Indonesia throughout this year. According to Gaikindo data, national car
wholesale sales fell 16.2% yoy to 633,218 units in 9M24. A similar trend also occurred in national
car retail sales which fell 11.9% yoy to 657,223 units in 9M24. (Kontan)
• BBYB booked a net profit in 9M24
Bank Neo Commerce (BBYB) posted a net profit of IDR 4.06 billion in 9M24, with corporate
credit up 88.01% yoy to IDR 2.31T, while focusing on high-quality lending to maintain a 0.99%
NPL. The bank’s Capital Adequacy Ratio improved to 34.18%, with efficiency gains reducing
its BOPO ratio to 99.88%. BBYB now reaches over 27M digital users, highlighting growth in
its digital banking footprint and stability in its financial metrics. (Emitennews)
• BDMN booked IDR 2.3T net profit in 9M24
Bank Danamon Indonesia Tbk (BDMN) reported solid 9M24 financial performance with a net
profit of IDR 2.3T, supported by growth across four key business segments: Enterprise
Banking, SME Banking, Consumer Banking, and Adira Finance. Loans, including Trade
Finance, rose 12% yoy to IDR 186.5T, while Third-Party Funds grew 14%. Operational income
increased by 7%, with improved asset quality reflected in a lower Loan at Risk (LAR) of 11.5%.
Danamon’s robust performance underscores its ongoing strategic expansion and
collaboration within MUFG’s global network (stockwatch)
• GOTO achieved positive adjusted EBITDA of IDR 137B in 3Q24
GoTo Gojek Tokopedia Tbk (GOTO) achieved notable growth in 3Q24, with gross revenue
rising 34% yoy to IDR 4.7T and reaching a positive adjusted EBITDA of IDR 137B after a
previous loss. The gross transaction value (GTV) grew 74% YoY to IDR 72T, driven by fintech
and on-demand services. With IDR 21T in cash reserves and a 128% yoy increase in fintech
income, GoTo is targeting EBITDA breakeven by year-end, signaling operational resilience
and growth potential. (Emitennews)
• UNTR’s net profit rose to IDR 15.59T in 9M24
United Tractors (UNTR) booked revenue of IDR 99.55T (+2% yoy). In line, the cost of revenue
increased by 2.66% yoy to IDR 73.84T. These results led UNTR to record a gross profit of IDR
25.71T (+0.15% yoy). UNTR achieved a net profit of IDR 15.59T (+1.62% yoy). Based on segments,
the mining contractor segment contributed IDR 39.1T to revenue (+11% yoy), followed by
construction machinery of IDR 26.5T (-8% yoy), coal mining segment of IDR 20.6T (-14% yoy),
gold and other mineral mining of IDR 6.7T (+57% yoy), and construction services of IDR 2.1T
(+37% yoy). (Kontan)