Adira Dinamika Multi Finance (ADMF) Reports Strong Q3 2022 Profits, Driven by Efforts to Increase Efficiency

Receh.in - PT Adira Dinamika Multi Finance Tbk (ADMF) has announced net profit of IDR 485 billion (approximately USD 34 million) for Q3 2022, a year-on-year increase of 73.7% and a quarter-on-quarter increase of 36.2%. The cumulative net profit for the period January to September 2022 grew 52.1% year-on-year to IDR 1.14 trillion (approximately USD 79 million).

This strong performance was driven by ongoing efforts to streamline business processes and increase efficiency. "We appreciate the company's efforts to continuously improve efficiency despite internal and external challenges," said Rut Yesika Simak, an analyst at Mirae Asset Sekuritas Indonesia, in a statement.

ADMF is currently undergoing a business transformation with a focus on customer needs and is consistently digitizing its existing business processes. Since 2017, the company has launched various apps to meet customer needs, such as momotor.id, momobil.id, moservice.id, and dicicilaja.com, with the most recent app, Adiraku, launched in 2020.

Since the onset of the COVID-19 pandemic, the company has also focused on expanding its non-automotive business, including the multiguna credit and heavy equipment segments. The multiguna credit segment provides financing for education, healthcare, home renovation, and travel needs. In addition to the multiguna credit segment, ADMF is also focusing on expanding its heavy equipment segment, which it has been developing since 2022.

"ADMF is currently trading at a trailing P/E of 5.9x, which is below the 5-year average trailing P/E, and a trailing P/B of 1.0x, also below the 5-year average trailing P/B. The valuation of ADMF is attractive compared to other multifinance companies," said Simak.