Astra 2011 3rd Quarter Financial Statements

To: Business Editor 31st October 2011

For immediate release

PT Astra International Tbk

2011 Third Quarter Financial Statements

The following announcement was issued today by the Company's 71%-owned subsidiary, Jardine Cycle & Carriage Limited, which holds 50.1% of PT Astra International Tbk.

For further information, please contact:

Jardine Matheson Limited

Neil M McNamara (852) 2843 8227

GolinHarris

Kennes Young (852) 2501 7987

31st October 2011

PT ASTRA INTERNATIONAL TBK

2011 THIRD QUARTER FINANCIAL STATEMENTS

Highlights

"The Group's results for the first nine months of the year were strong, supported by growth in domestic demand and robust commodity prices. The Group is expected to continue to trade well for the remainder of the year."

Prijono Sugiarto

President Director

31st October 2011

Group Results

* Shareholders' funds Net asset value per share are based on equity attributable to the owners of the parent.

The financial results for the nine months ended 30th September 2011 and 2010 have been prepared in accordance with Indonesian Financial Accounting Standard. These results are unaudited.

The financial position as at 31st December 2010 has been audited in accordance with the auditing standards established by the Indonesian Institute of Certified Public Accountants.

PRESIDENT DIRECTOR'S STATEMENT

Overview

The Indonesian economy continued to grow in the third quarter of 2011, supported by high commodity prices and the availability of consumer finance at attractive interest rates. The Group delivered a strong set of results across all major business segments, despite a decline in automotive sales during the month of August due to the Lebaran holiday that follows Ramadan.  

Performance

The Group's net revenue for the nine months ended 30th September 2011 increased by 27% to Rp 119.5 trillion. Net income grew by 30% to Rp 13.4 trillion, and earnings per share were also up 30% at Rp 3,320.

Astra's net asset value of Rp 55.9 trillion, or Rp 13,806 per share, at 30th September 2011 was 13% higher than at the end of 2010.

The Group has benefited from strong operating cash flows. Overall net cash, exclusive of the Group's financial services subsidiaries, was Rp 1.7 trillion, compared to net debt of Rp 3.5 trillion at the end of 2010. The Group's financial services subsidiaries had net debt at 30th September 2011 of Rp 30.1 trillion, compared to Rp 21.1 trillion at the prior year end, due to an increase in the volume financed.

Business Activities

Net income from the Group's automotive businesses grew by 17% to Rp 6.2 trillion. Its share of results from its automotive associates and jointly controlled entities was Rp 3.7 trillion, an increase of 16%.

The wholesale market for motor vehicles grew by 19% to 660,000 units. Astra's motor vehicle sales rose by 16% to 362,000 units, representing a market share of 55% compared to 56% in the corresponding period last year. Astra launched the Toyota Grand New Kijang Innova, Toyota Grand New Fortuner, Isuzu Giga Trucks, BMW X1(SKD), Peugeot 207 Sedan, Peugeot RCZ, Peugeot 508, and Daihatsu New Sirion during the third quarter of 2011.

The wholesale market for motorcycles grew by 12% to 6.2 million units. Astra Honda Motor's sales improved by 24% to 3.2 million units, with its market share increasing from 47% to 52%. During the third quarter of the year the company launched the New Honda Blade and Honda Supra X Helm-in.

Astra Otoparts, the 95.7%-owned component manufacturing business, reported a net income of Rp 754 billion, a decline of 9% due to higher cost of sales and operating expenditure.

Financial Services

Net income from the Group´s financial services businesses grew by 32% to Rp 2.6 trillion.

The increased contribution from Astra´s consumer finance operations reflected loan book growth, a reduction in offshore funding costs and a stable customer credit experience. The aggregated amount financed through Astra's automotive-focused consumer finance operations Federal International Finance, Astra Credit Companies and Toyota Astra Financial Services grew by 14% to Rp 37.4 trillion, including balances financed through joint bank financing without recourse. The aggregated amount financed through Astra's heavy equipment-focused finance operations Surya Artha Nusantara Finance and Komatsu Astra Finance grew by 46% to Rp 5.2 trillion. The heavy equipment-focused finance operations do not utilize joint bank financing facilities.

Group insurance company, Asuransi Astra Buana, generated an increase in earnings, due to higher retail and commercial premiums.

Astra´s 44.5%-held joint venture, Bank Permata, reported net income of Rp 962 billion, an increase of 23%, as loan book growth of 39% more than compensated for lower net interest margins.

Heavy Equipment and Mining

The Group´s net income from its heavy equipment and mining businesses grew by 47% to Rp 2.6 trillion.

United Tractors, which is 59.5%-owned, reported net income up 47% to Rp 4.3 trillion. Strong results were seen in its Komatsu heavy equipment business, which sold 6,396 units, an increase of 55%. The contract coal mining operations of subsidiary, Pamapersada Nusantara, achieved an increase in contract coal production of 11% to 63.3 million tonnes and an increase in contract overburden removal of 22% to 585.2 million bcm. United Tractors sold 3.2 million tonnes of coal produced from its own mines. United Tractors and its subsidiaries own interests in eight coal mines following an increase in the stake held in Asmin Bara from 30% to 60% and the acquisition of a 20% interest in Bukit Enim Energi.

Agribusiness

The contribution to the Group´s net income from agribusiness increased by 51% to Rp 1.5 trillion.

Astra Agro Lestari, which is 79.7%-held, reported net income for the period up 51% to Rp 1.9 trillion as average crude palm oil prices achieved were 16% higher and palm oil production was up 20% at 931,000 tonnes.

Infrastructure and Logistics

Net income from infrastructure and logistics grew by 77% to Rp 484 billion, primarily due to the reversal of a prior year income tax provision.

PAM Lyonnaise Jaya, which operates the western Jakarta water utility system, increased its sales volume in the first nine months of 2011 by 2% to 113.7 million cubic metres.

The 72.5 km Tangerang - Merak toll road operated by 79.3%-owned Marga Mandalasakti reported a 10% increase in traffic volume to 23.8 million vehicles on higher average tariffs. The Group also acquired a 95% stake in the greenfield 40.5 km Kertosono - Mojokerto toll road near Surabaya during the quarter at a cost of Rp 750 billion. The overall cost of this toll road project is estimated at some Rp 3.5 trillion. Taken together with Astratel's 40% interest in the greenfield 11.2 km Kunciran - Serpong toll road on Jakarta's outer ring road the Group has an effective interest in 100.5 km of toll road.

Serasi Autoraya´s improved profit was supported by higher vehicles under contract.

Information Technology

Net income from information technology grew by 25% to Rp 71 billion.

Astra Graphia, 76.9%-owned, reported net income of Rp 92 billion, up 25%. During the quarter Astra Graphia entered into a joint venture with Monitise Asia Pacific to offer mobile banking, payments and commerce services in Indonesia.

Prospects

The Group's results for the first nine months of the year were strong, supported by growth in domestic demand and robust commodity prices. The Group is expected to continue to trade well for the remainder of the year.

Prijono Sugiarto

President Director

31st October 2011

 - end -

For further information, please contact:

PT Astra International Tbk

Tel: + 62 - 21 - 6530 4956