Adira Finance Achieves Net Profit of IDR 432 Billion in the First Quarter of 2024

KONTAN.CO.ID - JAKARTA. PT Adira Dinamika Multi Finance Tbk (ADMF), also known as Adira Finance, has reported a 4% increase in net profit for the first quarter of 2024.

The company's President Director, Dewa Made Susila, announced that the net profit amounted to IDR 432 billion, marking a 4% increase in Q1 2024. This growth was primarily driven by an 11% year-on-year (YoY) increase in total revenue, which reached IDR 2.4 trillion.

Consequently, the company's Return on Asset (ROA) and Return on Equity (ROE) stood at 7.3% and 16.3%, respectively.

"Despite the challenges in the automotive industry, Adira Finance has managed to increase its market share for new motorcycles and cars by 8.8% and 5.9% respectively, compared to the same period last year, which were 8.0% and 5.0%," Dewa stated in a press release on Monday (29/4).

Meanwhile, new financing increased by 3% to IDR 10.9 trillion, and the total receivables managed by the company reached IDR 58.1 trillion, growing by 20% YoY.

In addition, Adira Finance continues to innovate by expanding into non-automotive segments, including multipurpose financing, durable goods, and heavy equipment. By March 2024, the company had successfully increased its non-automotive financing disbursement by 18% to IDR 2.3 trillion, with the majority of the company's non-automotive financing being multipurpose financing.

The company also provides financing for electric vehicles (EVs) as part of its support for Indonesia's transition to clean energy, both for motorcycles and cars, through partnerships with various manufacturers and electric vehicle brand dealers. As a result, Adira Finance's total electric vehicle financing continues to show a significant upward trend, reaching IDR 80.9 billion in Q1 2024.

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As part of its efforts to continually increase financing disbursement, Adira Finance is selectively expanding its business network in areas with high potential. As of March 31, 2024, Adira Finance had operated 472 business networks across Indonesia (including sharia branches).

Digitally, the company continues to optimize sales through digital platforms such as Adiraku, momobil.id, momotor.id, and dicicilaja.com.