PT Dharma Polimetal Tbk (DRMA) Achieves Profit Growth Amidst Industry Challenges
PT Dharma Polimetal Tbk (DRMA), Indonesia’s leading automotive component manufacturer, has demonstrated strong resilience amidst challenges in the national automotive industry. In the financial year 2024, while sales remained stable at Rp5.5 trillion, DRMA achieved a 4.1% growth in core net profit, rising from Rp569.6 billion (after deducting negative goodwill from the acquisition of PT Trimitra Chitrahasta (TCH) in 2023, a non-operational and non-recurring profit) to Rp593.1 billion in 2024.
The two-wheeler (2W) segment emerged as the primary driver of DRMA’s growth, with sales reaching Rp3.3 trillion, a significant 11.9% year-over-year (YoY) increase, while total national motorcycle sales only grew by 1.5%. Contributing 59% to total sales, this segment remained the cornerstone of DRMA’s performance in 2024.
“Despite the industry-wide sales downturn in the automotive sector throughout 2024, DRMA exhibited remarkable resilience. We outperformed the industry in both sales and profit. Moving forward, DRMA will continue to explore new growth avenues less susceptible to automotive sales fluctuations, both within and beyond the automotive industry. We will leverage our existing competencies and foster new innovations. Furthermore, we will pursue opportunities to enhance efficiency through appropriate technology and automation, bolstering DRMA’s competitiveness and profitability,” stated Irianto Santoso, President Director of Dharma Polimetal.
In addition to the 2W segment, DRMA’s 2024 performance was also propelled by export sales from PT Dharma Kyungshin Indonesia (DKI), a joint venture with Kyungshin Corporation. Export sales to the United States commenced in May 2024, culminating in DKI recording sales of Rp708.9 billion by year-end, a substantial 103.6% increase.
With a proven track record of delivery, DKI is confident in expanding its global market share and exploring export opportunities in other countries. To capitalize on these opportunities, DKI is constructing a new 2.3-hectare factory with 1.5 times the capacity of the existing facility. The plant is scheduled for completion in the second half of 2025 and is projected to increase the average number of export containers per month.
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To ensure sustainable and resilient business development and growth, DRMA is actively exploring opportunities in the electric vehicle (EV) sector. The company is proactively developing EV components and building its own EV ecosystem through Dharma Connect.
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