AKR Corporindo - Expect in Line 3Q24E Result and 4Q24E to Remain as the Strongest Quarter
We estimate in line 3Q24E for AKRA (net profit at 63% of our FY24F vs 61%-72% seasonality), as petroleum and land sales may improve qoq.
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AKR Corporindo - Recalibrating Our Numbers Post 3Q24 Earnings Miss
We reiterate our BUY rating with a 6% lower TP of Rp1,600. We expect recovery from 4Q24F onwards from JIIPE and petroleum/chemical vol.
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AKR Corporindo (AKRA IJ) - Industrial Chameleon
AKR Corporindo (AKRA IJ) booked an impressive finish to the year despite slower revenue growth from its trading & distribution business boosted by...
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AKR Corporindo - 1H24 Earnings Miss, 2H24 Shall Improve but Is Priced In
AKRA’s 1H24 net profit only reached 35%/33% of our/cons FY24F est., a miss vs. historical seasonality due to weak distribution margins.
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AKR Corporindo - Expect a Better 2H24 Land Sales
We expect JIIPE to remain a key earnings driver in FY24/ FY25, with 100 ha/90 ha of land sales for JIIPE in FY24F/FY25F (+10%/-10% yoy).
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