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.
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?
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.
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.
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.
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.
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.
