ASII – 2022 PATMI 43% yoy

Astra International (ASII) reported FY22 PATMI at IDR28.94 tn or 43% you higher on stronger top line which rose 29% yoy. Without To adjustment, net profit grew even higher at 51% yoy to IDR30.49 tn. ASII proposed dividend final amounting IDR552/shr, following iits previous dividend interim of IDR88/shr. The final dividend is higher compared to previous amount of IDR 194/shr. (Source : Kontan). Comment : ASII’s FY22 PATMI in-line with both our and street expectations at 99.8%/99.2%. We believe Astra will continue to report another resilient performance this year, mainly backed by potential continuing demand from its auto segment. We expect ‘23F earnings at IDR28.08 tn. Our PATMI forecast for Astra is around 1.1% above consensus expectation a IDR27.78 tn.