Astra International - Challenges from Used 4W, but Expect 2H24F Sales to Improve from 1H24
Used 4W sales have gained traction rapidly since 2020, in which year used 4W sales grew by 8% yoy, outpacing new 4W sales (-44% yoy).
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Astra International - Expect New Models to Boost 2H24F Sales
We raise our FY24F net profit forecast by 1.4% on higher auto margin assumptions. Rating upgraded to Buy with a TP of Rp5,100.
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Astra International - KTA from Call with the CFO
ASII retains its confidence in hybrid 4W expansion, given the current needs and infrastructure availability in Indonesia.
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Astra International - Lowering FY24-25F Est. And TP Amid Weaker Auto Sales Outlook
4M24 2W sales reached 2.1m units (-1% yoy; inline), while 4W wholesales remained weak at 263k units (-23% yoy, below our f’cast)
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Astra International (ASII) - 1Q24 Preview: Possible Decent Headline Figures
We expect consolidated 1Q24E revenue and NP of ~Rp76-77t/~Rp8.5- 8.6t, hence possible inline revenue but earnings ahead vs seasonality. Despite...
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