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.
138 Views
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.
167 Views
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.
144 Views
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).
162 Views
AKR Corporindo (AKRA.IJ, TP IDR 2.000) - Optimistic Guidance Implies Growth Upside in FY24
We maintain our conservative assumptions and FY24F earnings forecast (+2.8% yoy), in view of uncertainties in political and coal price in FY24.
392 Views