KONTAN.CO.ID - JAKARTA. PT Astra Otoparts Tbk (AUTO) continues to develop its EV component business or components for electric vehicles.

Currently, AUTO has started supplying general parts similar to vehicles based on the Internal Combustion Engine (ICE).

Astra Otoparts Director Wanny Wijaya said, the general parts that have been supplied are the auxiliary battery and the oil pump electric control unit (ECU).

They have also provided specific parts for electric vehicles such as hybrid dampers, battery intake ducts, and components for transmission and 4W cooling systems.

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"We internally continue to conduct R&D through one of our divisions, the Engineering Development Center (EDC) for product development and the Winteq division for process development," Wanny told Kontan.co.id, Wednesday (6/3).

Meanwhile, this year Gaikindo targets national car sales of 1.1 million units.

The Indonesian Motorcycle Industry Association (AISI) targets national motorcycle sales of around 6.2 million units—6.5 million units.

The increase in car and motorcycle production domestically, both internal combustion engine (ICE) or electrification, will certainly increase the demand for components and spare parts made by AUTO.

AUTO has prepared a capital expenditure budget or capital expenditure (capex) this year of IDR 500 billion.

"The capex is prioritized for the preparation of new vehicle models, as well as the implementation of digitization, and automation in all aspects," he said.

AUTO recorded an increase in performance in 2023. AUTO's net profit and revenue increased throughout 2023.

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AUTO's revenue rose slightly by 0.37% to IDR 18.64 trillion in 2023 from previously IDR 18.57 trillion in 2022.

According to AUTO's financial report, as of December 31, 2023, net profit attributable to the parent entity increased by 38.88% year on year (YoY) to IDR 1.84 trillion. In 2022, AUTO's net profit was IDR 1.32 trillion.

The automotive component manufacturing segment contributed IDR 10.54 trillion to AUTO's revenue. Meanwhile, the trading segment earned revenue of IDR 8.10 trillion.

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The cost of revenue that fell 2.01% last year caused AUTO's gross profit to increase by 14.48% to IDR 3.07 trillion.

AUTO's net profit was also boosted by the share of net profit of associate entities and joint ventures, which increased by 36.05% from IDR 696.89 billion to IDR 948.16 billion.

Editor: Syamsul Azhar