SMGR – Strong Cost Management

Domestic sales as the biggest contributor at 81.3% booked sales volume growth of 1.4% to 7.4 million ton, with positive domestic demand and the Company’s focus on domestic market segment

EXCL – Data Traffic Grows Significantly

EXCL recorded a revenue growth of 7.9% YoY to IDR 6.7 trillion for the 1Q22 period, still dominated by data services which accounted for around 95%. In more detail, data traffic increased by 33.5% YoY to 1,857 Petabytes, supported by the addition of BTS which reached 133 thousand units. Meanwhile, 4G network services have increased to 460 cities.

ADRO – Focuses on Asian Market

ADRO recorded 1Q22 revenue of USD 1,224.6 million (+76.9% YoY), and net profit of USD 400.0 million (+457.6% YoY). The heavy rain factor made coal production (-6% YoY) and sales volume (-3% YoY) lower, compensated by much higher ASP, and cost control effectiveness. In 2022, coal prices are expected to remain high amid global sentiment.

ASII – Better Performance in 1Q22

During 1Q22, ASII posted a 39% YoY increase in revenue to IDR 71.8 trillion; supported by main business lines such as Automotive, Heavy Equipment & Mining, and Agribusiness.

WGSH – NFT as A New Revenue Stream

Through the acquisition of Mythologic Studio, WGSH has completed the ecosystem to meet the needs of 3D Modeling, Game Assets, and AR. This Venture Builder company, following the trend of Metaverse and NFT, is targeting the NFT market size business which is projected to reach USD 7.63 billion in 2028. With NFT as a new revenue stream, NHKSI Research projects that WGSH has the opportunity to increase its net income by up to three times in 2022.

UNTR – Sales Realization Reached 45.7%

UNTR posted 1Q22 revenue of IDR 27.9 trillion or up 56.3% YoY. The construction machinery segment recorded the largest growth at 122.1% YoY compared to 1Q21. The increased activity of heavy equipment usage boosted Komatsu’s sales volume during 1Q22 by 146.2% YoY. Meanwhile, 1Q22 net profit was recorded at IDR 4.3 trillion, up 131.4% YoY from the same period the previous year.

BMRI – Focuses on High-Yield Asset

BMRI’s 1Q22 net profit jumped 69.5% to IDR 10.0 trillion. This achievement was supported by the growth of interest and non-interest income. Meanwhile, operating expenses were still manageable. Furthermore, provision expense also decreased by 25.9% YoY. NHKSI Research sees that BMRI is again focusing on high-yield assets to maintain growth in 2022.

BBRI – CASA Growth Boosts Profitability

BBRI booked 1Q22 net profit of IDR 10.90 trillion (bank-only), jumping 63.4% YoY compared to 1Q21. Net Interest Income grew 10.1% YoY to IDR 25.08 trillion, as Interest Expense fell 16.9% YoY. Micro segment continued to be the driver, as it went up 15.4%. In 2022, BBRI sets credit growth target at 9%-11%, with NIM maintained at 7.6%-7.8%.