Records are meant to be broken. Year 2022 was the culmination of financial and commodities sectors. Record profits, revenues, margins, etc.

 

The financial reporting season nearly concludes with some remarkable results.

 

Commodities

Coal prices tripled, fuel price doubled, nickel price spiked, ammonia price breached level not seen before, etc.

 

ADRO recorded nearly USD 3 billion in profits, with cash being held close to USD 4 billion.

 

ESSA recorded a whopping jump of nearly 900% in net profit YoY.

 

HRUM recorded nearly quadrupled (400%) increase in profits, while its venture into nickel business starting to pay off.

 

SMDR recorded more than 100% jump in net profit; with cash held surprisingly at USD 416 million (slightly above its current market capitalization of USD 408 million).

 

Finance

The Big 4 Banks and Financing Companies benefited from the increase of interest rates [at the expense of borrowers].

 

BBCA, the largest bank by market cap, recorded IDR 40 trillion in profits, an increase of 30% YoY.

 

BMRI, the largest bank by asset, recorded IDR 41 trillion in profits, an increase of 46% YoY.

 

ADMF recorded strong NPM close to 20%, being one of strongest financing company.

 

MPMX recorded 60% improvement in profit, mainly due to improvement in foreign exchange.

 

 

 

Disclaimer: NOT FINANCIAL / INVESTMENT ADVICE. This article is of writer’s personal opinion. Any information contained here is for education and informational purpose only. Readers should seek other sources or professional advice for further clarification where deemed necessary.