{"id":991009,"date":"2025-08-05T22:20:33","date_gmt":"2025-08-05T15:20:33","guid":{"rendered":"https:\/\/bahana.boone.co.id\/?p=991009"},"modified":"2026-01-26T19:40:27","modified_gmt":"2026-01-26T12:40:27","slug":"astra-international-asii-ij-%f0%9f%9a%97-laba-1q25-di-bawah-ekspektasi-karena-untr-melemah%f0%9f%a4%94","status":"publish","type":"post","link":"https:\/\/bahana.boone.co.id\/en\/astra-international-asii-ij-%f0%9f%9a%97-laba-1q25-di-bawah-ekspektasi-karena-untr-melemah%f0%9f%a4%94\/","title":{"rendered":"Astra International (ASII IJ) 1Q25 Earnings Below Expectations Due to Weakening \ud83e\udd14"},"content":{"rendered":"
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Analyst: Jeremy Mikael<\/em><\/strong><\/p>

ASII reports 1Q25 net profit of IDR6.9tn (-15.4% q-q; -7.11p11t y-y)<\/strong>, only fulfills\u00a023\/211TP11 t from our estimate\/consensus<\/strong>.\u00a0Weak performance mainly comes from the HEMCE segment (UNTR; 59.5% ownership) with net profit of IDR1.96tn (-19.3% Q-Q; -30% Y-Y).<\/em>\u00a0Meanwhile,\u00a0The automotive segment is relatively tough<\/strong>\u00a0with the contribution of net income\u00a0IDR2.73TN (+0.2% Q-Q; -0.8% y-y)<\/strong>, supported\u00a0Improvement of spare parts and after-sales business<\/strong>\u00a0Even though 4W sales declined.<\/p>

\ud83d\ude98\u00a0New Industry & Strategy Outlook<\/strong>
Management now estimates\u00a0National Wholesales 2025 at 820\u2013860K Unit<\/strong>\u00a0(down from 860\u2013900K units), with\u00a0ASII Market Share Projected Stable<\/strong>.\u00a0The key strategy is to launch a new hybrid mass-market model, estimated to be Veloz\/Avanza hybrid with a 7-seater configuration and prices according to local purchasing power.<\/em>\u00a0NJKB Toyota Veloz Hybrid<\/strong>\u00a0even already recorded in\u00a0Permendagri No. 8\/2024<\/strong>.<\/p>

\ud83c\udfe5\u00a0The pillars of the health business are starting to grow<\/strong>
The health segment began to show positive results. heartology<\/strong>, ASII's Cardiovascular Hospital, notes\u00a0Patient surge ~50% Y-Y at 1Q25<\/strong>, with\u00a0Utilization still <50%<\/strong>. It opens\u00a0Large growth room<\/strong>\u00a0Given the vast Indonesian cardiovascular market.<\/p>

\ud83d\udcc9\u00a0Forecast revision & price target<\/strong>
We lowered the projection of FY25\/26 as the performance adjustment of UNTR.<\/em>\u00a0The 12-month price target is revised to IDR5,400 (from IDR5,600)<\/strong>, stick with\u00a0BUY RECOMMENDATION<\/strong>\u00a0Because of the potential upside\u00a011.8% from the last price<\/strong>. Besides,\u00a0Final Dividend IDR308\/share (yield 6.4%)<\/strong>\u00a0will be decided at the AGMS tomorrow (8 May 2025).<\/p>

\u26a0\ufe0f\u00a0Main risks:<\/strong>\u00a04W\/2W sales were lower than expected, delayed launch of new models, and weaker commodity prices for hemce and agribusiness.<\/p>

\ud83d\udcce\u00a0Full PDF:<\/strong>\u00a0bsasii0825<\/a><\/strong><\/p>

\u270d\ufe0f\u00a0Disclaimer on<\/strong>
Buying and selling decisions are personal responsibility.<\/em><\/p>

Regards<\/strong>
Investment Specialist<\/em><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>","protected":false},"excerpt":{"rendered":"

Laba ASII tertekan di awal 2025, tapi kejutan hybrid mass-market dan bisnis kesehatan yang mulai jadi game changer saham ini ke depan.<\/p>","protected":false},"author":2,"featured_media":991011,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[74],"tags":[],"class_list":["post-991009","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/bahana.boone.co.id\/en\/wp-json\/wp\/v2\/posts\/991009","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bahana.boone.co.id\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bahana.boone.co.id\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bahana.boone.co.id\/en\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/bahana.boone.co.id\/en\/wp-json\/wp\/v2\/comments?post=991009"}],"version-history":[{"count":10,"href":"https:\/\/bahana.boone.co.id\/en\/wp-json\/wp\/v2\/posts\/991009\/revisions"}],"predecessor-version":[{"id":993257,"href":"https:\/\/bahana.boone.co.id\/en\/wp-json\/wp\/v2\/posts\/991009\/revisions\/993257"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bahana.boone.co.id\/en\/wp-json\/wp\/v2\/media\/991011"}],"wp:attachment":[{"href":"https:\/\/bahana.boone.co.id\/en\/wp-json\/wp\/v2\/media?parent=991009"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bahana.boone.co.id\/en\/wp-json\/wp\/v2\/categories?post=991009"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bahana.boone.co.id\/en\/wp-json\/wp\/v2\/tags?post=991009"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}