Astrindo Nusantara profit tumbles 86% in 2025 on weaker revenue

By Rara Suratmi

Coal and infrastructure firm PT Astrindo Nusantara Infrastruktur Tbk (IDX: BIPI) posted a sharp decline in profit in 2025 as revenue more than halved amid weaker operational performance and persistent financing costs.

The company reported net profit of $1.5 million for the year ended Dec. 31, 2025, down 85.6% from $10.4 million a year earlier, according to its consolidated financial statements.

Revenue fell 58.2% year-on-year to $235.1 million from $563.0 million in 2024, while gross profit dropped to $34.6 million from $111.3 million previously.

Finance costs remained elevated at $69.1 million, although lower than the $84.6 million recorded a year earlier, continuing to pressure the company’s bottom line.

The company booked $36.4 million in other income in 2025, compared with a net other expense position of $2.4 million in 2024, helping offset part of the earnings decline. Income contribution from joint ventures stood at $14.1 million.

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Cash and cash equivalents dropped to $30.9 million at the end of 2025 from $69.3 million a year earlier. The group recorded net operating cash outflow of $25.9 million, compared with positive operating cash flow of $12.4 million in 2024.

Total assets stood at $1.60 billion as of Dec. 31, 2025, down from $1.69 billion a year earlier, while total liabilities declined to $1.01 billion from $1.10 billion. Total equity edged up to $594.0 million from $591.4 million.

Astrindo Nusantara Infrastruktur operates in coal mining, mining infrastructure, port services and energy-related investments through a range of subsidiaries in Indonesia and Singapore.

The company’s controlling shareholder is PT Indotambang Perkasa, while Halim Jusuf is listed as the ultimate controlling party.

Editing by Reiner Simanjuntak