We cut Astra’s earnings for 2025F/2026F by 7%/5% and introduce 2027F earnings...

AUTOS AND AUTO PARTS ASII ASII JK ASII IJ Jupriadi Tan David Tjahjadi Gerald Hugo

ASII booked relatively in-line results, with FY24F top line growing by 4.5%

AUTOS AND AUTO PARTS Jupriadi Tan David Tjahjadi Gerald Hugo

We analyze Astra’s investments over the past seven years – which have largely been unfruitful,

AUTOS AND AUTO PARTS ASII ASII JK ASII IJ Jupriadi Tan David Tjahjadi Gerald Hugo

ASII reported 3Q24 results, with revenue at IDR86tn (+10% y-y) and NPAT of IDR10tn (+21% y-y),

Autos Auto Parts ASII ASII JK ASII IJ Jupriadi Tan Gerald Hugo

In autos, as discussed in our previous Anchor Report, Shifting gears —

Autos ASII ASII JK ASII IJ Jupriadi Tan Gerald Hugo