Astra Graphia (ASGR) Posts 45% Profit Surge in 2024, Driven by Cost Reductions

JAKARTA, investortrust.id - PT Astra Graphia Tbk, a leading Indonesian printing and IT solutions provider, reports a striking 45% jump in annual profit for 2024, reaching Rp 204.65 billion ($13 million), up from Rp 141.07 billion the previous year, propelled by significant cost reductions despite a dip in net revenue. This performance highlights the company’s ability to optimize operations in a challenging market.

The financial results, released on Friday, Feb. 21, 2025, to the Indonesia Stock Exchange (BEI), revealed that net revenue fell to Rp 2.81 trillion in 2024 from Rp 2.96 trillion in 2023. However, a sharper decline in the cost of revenue more than offset this drop, lifting gross profit from Rp 641.74 billion to Rp 649.19 billion.

This efficiency drove the profit attributable to the parent entity’s owners—PT Astra International Tbk (ASII), a diversified conglomerate—from Rp 141.07 billion to Rp 204.65 billion, boosting earnings per share from Rp 104.58 to Rp 151.71.

Astra Graphia (ASGR) also strengthened its balance sheet, with total assets rising from Rp 2.68 trillion to Rp 2.94 trillion by year-end 2024. Liabilities increased from Rp 890.91 billion to Rp 1.02 trillion, while total equity grew from Rp 1.79 trillion to Rp 1.92 trillion.

The company’s cash position saw notable gains, with year-end cash and cash equivalents climbing from Rp 1.27 trillion to Rp 1.61 trillion, fueled largely by Rp 453.36 billion from operating activities.

The profit surge stood in contrast to broader market turbulence, as Indonesia’s Jakarta Composite Index (JCI) has shed significant ground so far this year, reflecting global economic pressures in 2025.

For ASGR, a subsidiary of Astra International, the focus on cost management proved a winning strategy. Analysts attribute ASGR’s resilience to its streamlined operations in printing, document solutions, and IT services, sectors where it holds a strong foothold in Indonesia.

As businesses worldwide grapple with economic uncertainty, Astra Graphia’s 2024 results offer a rare bright spot, positioning it as a standout performer in the nation’s corporate landscape.