Indonesia's Money Supply M2 Grows 5.9% YoY in Jan-25

Indonesia's Money Supply M2 Grows 5.9% YoY in Jan-25

Indonesia's Money Supply M2 Grows 5.9% YoY in Jan-25's Money Supply (M2) rose 5.9% YoY to IDR 9,232.8 tn in Jan-25, accelerating from 4.8% growth in the previous month. M2 has averaged IDR 2,119.4 tn since 1980, reaching a record high of IDR 9,239.9 tn in Feb-25 and a low of IDR 5,156 tn in Feb-80.

 

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BCAS: AMRT IJ - Earnings Below

- ⁠4Q24 net profit recorded at IDR772bn (+27.7% QoQ; -36.4% YoY), bringing FY24 net profit to IDR3.1tn (+9.5% YoY), below ours'/cons' at 83.6%/81.6%. Profitability margins decreased YoY, mostly contributed by increase in G&A expenses.
- 4Q24 revenue came in at IDR30tn (+3.5% QoQ, +11.5% YoY), bringing FY24 revenue to IDR118.2tn (+10.2% YoY), in-line with estimates. Sales contribution from ex-Java continued its upward trend to 36.1% (+2.1% YoY), and saw the highest growth at 16.4%.
 

BCAS: MIDI IJ - Earnings Below

- ⁠MIDI posted 4Q24 net profit of IDR80bn (-44% QoQ, -37.2% YoY), bringing FY24 net profit to IDR546bn (+5.8% YoY), below ours/cons at 87.5%/88.1%. GPM increased YoY with better product mix and higher margin in fresh food. For 4Q24, margins decreased due to higher cost of revenue, depreciation and distribution expenses.
- 4Q24 revenue came in at IDR 5.2tn (+6.1% QoQ, +17.5% YoY), bringing FY24 revenue to a solid IDR19.8tn (+14.6% YoY). Strongest growth came from ex-Java at IDR8.4tn (+22% YoY).