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Astra Agro Lestari profit misses consensus by 47.9% in Q4

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Astra Agro Lestari profit misses consensus by 47.9% in Q4

PT Astra Agro Lestari Tbk said its normalized net income for the fourth quarter came to 366.15 rupiah per share, compared with the S&P Capital IQ consensus estimate of 702.36 rupiah per share.

EPS increased 10.3% year over year from 331.91 rupiah.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 576.60 billion rupiah, a gain of 10.3% from 522.67 billion rupiah in the year-earlier period.

The normalized profit margin rose to 21.3% from 11.5% in the year-earlier period.

Total revenue fell 40.3% on an annual basis to 2.712 trillion rupiah from 4.546 trillion rupiah, and total operating expenses decreased 38.7% year over year to 2.219 trillion rupiah from 3.621 trillion rupiah.

Reported net income declined 23.6% from the prior-year period to 474.12 billion rupiah, or 301.08 rupiah per share, from 620.72 billion rupiah, or 394.17 rupiah per share.

For the year, the company's normalized net income totaled 493.17 rupiah per share, compared with the S&P Capital IQ consensus normalized EPS estimate of 702.79 rupiah.

EPS declined 64.9% from 1,404.98 rupiah in the prior year.

Normalized net income was 776.62 billion rupiah, a fall of 64.9% from 2.212 trillion rupiah in the prior year.

Full-year total revenue fell 19.9% year over year to 13.059 trillion rupiah from 16.306 trillion rupiah, and total operating expenses fell 10.9% on an annual basis to 11.206 trillion rupiah from 12.582 trillion rupiah.

The company said reported net income decreased 75.3% on an annual basis to 619.11 billion rupiah, or 393.15 rupiah per share, in the full year, from 2.504 trillion rupiah, or 1,590.40 rupiah per share.

As of Feb. 24, US$1 was equivalent to 13,407.50 rupiah.