JAKARTA – PT AKR Corporindo Tbk (AKRA) posted a 16.15% year-on-year increase in net profit in the first quarter of 2026 to IDR 656.5 billion, in line with a 26.2% surge in revenue.

Based on its latest financial statements, AKRA recorded revenue of IDR 12.94 trillion at the end of the first quarter, supported by growth in its fuel trading and distribution segment, as well as logistics services and the JIIPE Gresik industrial estate.

Amid concerns over global oil supply disruptions, AKRA’s fuel trading and distribution segment still grew 23.6% in the first quarter of 2026 to IDR 11.84 trillion, although cost of goods sold in this segment rose 24.8%.

In addition, the industrial land business recorded strong growth, particularly as AKRA had not booked any land sales from JIIPE Gresik in the same period last year.

As of March 2026, AKRA posted a 3.2-fold increase in industrial estate segment revenue to IDR 591.13 billion, equivalent to 4.57% of total revenue during the period.

Meanwhile, the logistics services segment grew 16.7% to IDR 343.29 billion, although the adhesive manufacturing segment declined 19% in the first quarter.

Despite strong revenue growth, several cost components also increased, causing net profit margin to edge down from 5.55% to 5.09% in the first quarter of 2026.

Total assets stood at IDR 37.06 trillion as of end-March 2026, with cash and cash equivalents of IDR 7.28 trillion and liabilities of IDR 20.88 trillion. (ZH)