JAKARTA (ISL News) - PT Adi Sarana Armada Tbk (ASSA), a provider of transportation, logistics, and used vehicle ecosystem services, recorded solid revenue growth in the first quarter of 2026. The company posted revenue of Rp1.54 trillion, an increase of approximately 11% from Rp1.39 trillion in the same period last year.
"Strengthening the logistics business pillar and stable performance in the corporate rental and used vehicle sales lines were the main drivers of the Company's revenue growth during this period," said Prodjo Sunarjanto, President Director of ASSA.
However, this revenue increase was also accompanied by an increase in operating costs. This is the result of ASSA's strategic long-term infrastructure investments, including the preparation of new projects to maintain business continuity. Cost of revenue in the first quarter was recorded at IDR 1.08 trillion, up from IDR 967.21 billion compared to the same period last year.
Meanwhile, general and administrative expenses increased to Rp225.05 billion compared to Rp182.45 billion in the first quarter of 2025. This solid revenue achievement led the Company to a profit for the year of Rp141.45 billion.
The increase in costs resulted in a slightly lower profit compared to the same period last year, which was Rp143.76 billion. Geopolitics and Corporate Strategy: Due to the ongoing geopolitical tensions, ASSA has chosen to proceed cautiously this year. Therefore, the Company has chosen to undertake measured expansion activities with a focus on increasing efficiency, capacity, and service quality.
"We will now focus more on meeting existing demand while continuing to improve our infrastructure to ensure healthy growth in 2026," said Prodjo. In the logistics business, ASSA has chosen to focus its expansion efforts on integrating end-to-end logistics services for B2B clients to improve long-term operational efficiency.
Meanwhile, regarding infrastructure, the Company increased warehouse capacity and digitized its delivery system. This infrastructure investment led to increased costs at the beginning of the year, including additional personnel to serve B2B clients.
In the rental business pillars (ASSA Rent) and the used car business (Caroline.id, JBA, and MotoGadai), the Company is focusing on efforts to increase ecosystem synergy. In this business pillar, Caroline.id, as an online-to-offline car dealer, is starting to reach break-even (BEP). Meanwhile, JBA's auction business revenue is under pressure due to a decline in new car sales in 2025 and increasingly tight financing distribution from banks and leasing companies. However, both remain stable revenue contributors at 141.45 billion.
About PT ASSA Tbk
A Glance at PT Adi Sarana Armada Tbk (ASSA) PT Adi Sarana Armada Tbk, a public company, has been listed on the Indonesia Stock Exchange since 2012 (ASSA: IJ). ASSA started as a B2B car rental service in 2003, then developed Share Car, a B2C platform for renting spare vehicles to individuals. After about 4 years of renting its vehicles, ASSA sold the vehicles through its third pillar business, PT Autopedia Sukses Lestari Tbk (ASLC: IJ), an omnichannel automotive marketplace with two main business pillars: 1) Wholesale used car auction business (JBA Indonesia) and 2) Online-to-Offline retail used car sales business (Caroline.id).
In order to complement the mobility business, three years after its establishment, ASSA entered the logistics business in 2006, starting with first and midmile logistics for B2B, followed by the last-mile business, Anteraja in 2019. In addition, ASSA has also started other businesses such as the development of warehouse fulfillment – Titipaja (2021), CargoShare (2022), and cold chain logistics services (2023). Going forward, ASSA aims to provide a one-stop logistics solution for its customers. contributors amidst the transition period of the Company's logistics business pillar.
(Redaksi ISL News/Corcom PT ASSA).
