Jakarta. The capital expenditure (capex) undertaken by Astra International has reached up to Rp 35 trillion ($2.3 billion) as of September. The capital also went to investment in the heavy equipment business, infrastructure, facility maintenance in the utility sector as well as the development of omni-channel in the automotive sector, according to Astra's president director Djony Bunarto Tjondro on Tuesday. 

“We have spent quite a lot in the first nine months of 2023. Because there are many initiatives that we are doing related to our new investments,” Djony told reporters at a virtual press conference.

Astra International booked a net profit of Rp 25.69 trillion in the third quarter of 2023, up by 10.12 percent from the same period last year which posted Rp 23.33 trillion. According to Djony, the company also saw growth in almost all of its portfolio businesses, except for its construction machinery subsidiary United Tractors. Djony attributed the decline in United Tractors’ performance to the drop in coal prices.

“The group's overall performance throughout the first nine months of 2023 is pretty good, and this shows that the post-pandemic recovery still continues,” Djony said.

“We feel the group remains resilient amidst the uncertain global conditions. We believe we can post a solid performance until the year-end with moderate growth in the fourth quarter,” Djony said.

Djony also said he hoped that Astra could keep up what it had achieved in 2024.

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