Bisnis.com, JAKARTA - Shares of PT Adi Sarana Armada Tbk. (ASSA) rose by 11.88%, closing at IDR 565 per share at the end of trading on Tuesday (22/4). Despite the recent gain, ASSA shares remain down 17.52% year-to-date (YtD) in 2025.
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This comes after a stellar performance in 2024, where the TP Rachmat-backed company successfully doubled its net profit—marking its strongest earnings in recent years. With such momentum, what prospects lie ahead for ASSA in 2025?
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According to its financial report, ASSA recorded revenue of IDR 4.95 trillion in 2024, marking a 5.29% increase year-on-year (YoY) from IDR 4.43 trillion in 2023.
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Among its business segments, logistics services were the top contributor, generating IDR 2.19 trillion—an increase of 11.28% YoY.
The vehicle rental, sales, and driver services segment followed, contributing IDR 2.04 trillion, up 1.01% YoY. Revenue from used vehicle sales stood at IDR 1.16 trillion, reflecting a 9.92% YoY rise. Meanwhile, auction services booked revenue of IDR 274.56 billion, showing the highest growth among segments with a 33.19% YoY increase.
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In addition, ASSA also recorded revenue from other operational activities amounting to IDR 8.25 billion in 2024. However, this was offset by an elimination value between business segments totaling IDR 720.8 billion.
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In terms of cost, ASSA's cost of revenue rose moderately by 3.73% YoY to IDR 3.45 trillion in 2024. The largest portion of these expenses—salaries and allowances—actually experienced a decline, while depreciation expenses saw a slight increase compared to the previous year.
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As a result, ASSA's gross profit surged by 35.34% YoY, reaching IDR 1.5 trillion. After accounting for other expenses, the company posted a profit attributable to the parent entity of IDR 243.74 billion in 2024—more than doubling, or rising by 134.89% YoY, from IDR 103.76 billion in the previous year.
