Blog, News & Press Release
Jakarta, October 30th 2024 – The omnichannel trade listed Company in the sector of used car retail sales (Caroline.id) and auction business (JBA), PT Autopedia Sukses Lestari Tbk (ASLC) achieved a three-digit net profit increase of 177% in the third quarter of this year compared to the same period last year (YoY). This impressive achievement is supported by significant revenue growth across all of the company's business units.
Until September 2024, ASLC successfully recorded total revenue of IDR 618.18 billion, growing 36% from the revenue in the same period the previous year of IDR 453.50 billion. From this revenue, the Company recorded a net profit of IDR 44.67 billion, jumping 177% from the net profit in the third quarter of the previous year of IDR 16.15 billion.
The JBA Auction House recorded revenue growth of 43%, amounting to IDR 201.40 billion, up from IDR 140.57 billion in the third quarter of 2023. The Company’s used car retail unit, operating under the Caroline.id brand, achieved revenue of IDR 416.76 billion, a 32% increase from IDR 315.07 billion in the same period last year. Meanwhile, MotoGadai, ASLC’s startup in the pawn business, reported revenue of IDR 2.38 billion, jumped 42 times from IDR 57 million in the third quarter of last year.
"Positive growth in all business segments shows how solid ASLC's overall performance is, we expect that the Company's business will continue to grow sustainably," said Autopedia Sukses Lestari President Director, Jany Candra.
In the first nine months of this 2024, ASLC through JBA was able to auction around 92 thousands units of vehicles, rose by 33% YoY. Meanwhile, used car sales through Caroline.id total of 2,438 units, increased by 18% YoY. This achievement was supported, in part, by the expansion carried out by Caroline.id’s adding 3 new showrooms located in Mampang (South Jakarta), Poris Daan Mogot (Tangerang) and Cibiru (Bandung). As of October 2024, Caroline.id has a total of 15 showrooms and the Company targets to operate 16 showrooms by the end of 2024. Also there other 2 (two) showrooms, which are still under construction and renovation, are scheduled to operate in 2025.
The weakening economic growth that has reduced people's purchasing power has caused many members of the public to switch their plans to buy from new cars to used cars. On the other hand, the Company sees that the decline in Bank Indonesia's interest rate to 6% and positive sentiment with the new government will be able to provide positive impetus to the movement of the Indonesian automotive market, especially the increase in demand for used vehicle purchases.
The Company’s success in maintaining performance growth is supported by positive industry prospects and strong consumer purchasing power in the used vehicle market, further boosting ASLC’s optimism to pursue double-digit growth targets in revenue and profit by the end of 2024.
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PT Autopedia Sukses Lestari Tbk at a Glance (“ASLC”)
PT Autopedia Sukses Lestari Tbk (ASLC), which is part of the PT Adi Sarana Armada Tbk (ASSA) Group, is engaged in the business of buying and selling used vehicles and has been listed on the Indonesia Stock Exchange since early 2022.
With the vision of becoming the most trusted omnichannel automotive marketplace, Autopedia runs used vehicle buying and selling businesses for B2B, C2C, and B2C. Currently ASLC is the largest marketplace ecosystem in Indonesia for buying and selling used vehicles.
In its business ecosystem, Autopedia has two main businesses, namely an auction house called JBA, which can conduct offline and online (hybrid) auctions. JBA, with 35 branch offices throughout Indonesia, is the largest auction house in Indonesia.
Apart from that, ASLC also has an online-to-offline (O2O) used car dealer business with the Caroline.id brand, which currently has a total of 15 showrooms. Caroline.id provides benefits to consumers who buy used cars by providing a 7G+ guarantee for 1 year, which covers engine, transmission, air conditioner, brakes, electrical, suspension, and steering. The 7G+ guarantee is designed to ensure the safety and comfort of Caroline.id customers. The Caroline.id showroom point will continue to grow amidst the high potential of the used vehicle buying and selling business in Indonesia.
