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Astra International profit misses consensus by 46.2% in Q4

PT Astra International Tbk said its normalized net income for the fourth quarter amounted to 47.78 rupiah per share, compared with the S&P Capital IQ consensus estimate of 88.85 rupiah per share.

EPS decreased 39.1% year over year from 78.48 rupiah.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 1.934 trillion rupiah, a decrease of 39.1% from 3.177 trillion rupiah in the year-earlier period.

The normalized profit margin dropped to 4.2% from 6.2% in the year-earlier period.

Total revenue fell 10.0% on an annual basis to 46.019 trillion rupiah from 51.119 trillion rupiah, and total operating expenses declined year over year to 46.938 trillion rupiah from 48.158 trillion rupiah.

Reported net income fell 47.4% from the prior-year period to 2.467 trillion rupiah, or 60.94 rupiah per share, from 4.692 trillion rupiah, or 115.90 rupiah per share.

For the year, the company's normalized net income totaled 263.91 rupiah per share, compared with the S&P Capital IQ consensus normalized EPS estimate of 406.55 rupiah.

EPS declined from 329.91 rupiah in the prior year.

Normalized net income was 10.684 trillion rupiah, a decrease from 13.356 trillion rupiah in the prior year.

Full-year total revenue fell year over year to 184.196 trillion rupiah from 201.701 trillion rupiah, and total operating expenses fell year over year to 171.468 trillion rupiah from 182.530 trillion rupiah.

The company said reported net income fell on an annual basis to 14.464 trillion rupiah, or 357.28 rupiah per share, in the full year, from 19.191 trillion rupiah, or 474.04 rupiah per share.

As of Feb. 25, US$1 was equivalent to 13,430 rupiah.