Adira Dinamika Multi Finance

Adira Dinamika Multi Finance's net profit rose 13.0% yoy to IDR 487 bil in 2Q2019

By Helgi Analytics - November 05, 2019

Adira Dinamika Multi Finance made a net profit of IDR 487 bil under revenues of IDR 2,227 bil in the second quarter of 2019, up 13% a...

Adira Dinamika Multi Finance's net interest margin fell 4.00% yoy to 21.5% in 2Q2019

By Helgi Analytics - November 05, 2019

Adira Dinamika Multi Finance's net interest margin amounted to 21.5% in the second quarter of 2019, down from 22.1% when compare...

Adira Dinamika Multi Finance's price/earnings (P/E) rose 4.30% yoy to 5.21 in 2Q2019

By Helgi Analytics - November 05, 2019

Adira Dinamika Multi Finance stock traded at RUB 9,850 per share at the end second quarter of 2019 implying a market capitalization of USD 69...

Profit Statement 2016 2017 2018
Net Interest Income IDR bil 4,578 7,341 6,722
Fee Income (As % Of Revenues) % 0 0 0
Other Income IDR bil 6,476 7,341 8,446
Total Revenues IDR bil 6,476 7,341 8,446
Staff Cost IDR bil 1,732 1,893 2,031
Operating Profit IDR bil 3,370 3,783 4,248
Provisions IDR bil 1,652 1,661 1,764
Net Profit IDR bil 1,009 1,409 1,815
Balance Sheet 2016 2017 2018
Interbank Loans IDR bil 0 0.650 0.650
Customer Loans IDR bil 15,947 17,319 23,501
Debt Securities IDR bil 0 0 0
Total Assets IDR bil 27,643 29,493 31,496
Shareholders' Equity IDR bil 4,977 5,745 7,028
Interbank Borrowing IDR bil 0 0 0
Customer Deposits IDR bil 0 0 0
Issued Debt Securities IDR bil 20,053 20,573 21,200
Ratios 2016 2017 2018
ROE % 21.6 26.3 28.4
ROA % 3.64 4.93 5.95
Costs (As % Of Assets) % 11.2 12.5 13.8
Costs (As % Of Income) % 48.0 48.5 49.7
Capital Adequacy Ratio % 17.8 19.5 22.0
Net Interest Margin % 16.5 25.7 22.0
NPLs (As % Of Loans) % 20.7 23.2 20.2
Provisions (As % Of NPLs) % 21.0 20.0 23.9
Valuation 2016 2017 2018
Market Capitalisation (End Of Period) USD mil 502 526 672
Share Price (End Of Period) RUB 6,750 7,125 9,100
Price/Earnings (P/E) 6.69 5.06 5.01
Price/Book Value (P/BV) 1.36 1.24 1.29
Dividend Yield % 7.48 7.09 9.98
Earnings Per Share (EPS) IDR 1,009 1,409 1,815
Book Value Per Share IDR 4,977 5,745 7,028
Dividend Per Share IDR 505 505 908

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summary Unit 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018
income statement                    
Net Interest Income IDR bil ...     3,015 3,492 3,730 3,881 4,578    
Total Revenues IDR bil ...     5,560 6,394 5,989 5,866 6,476    
Operating Profit IDR bil ...     2,653 3,568 2,870 2,679 3,370    
Net Profit IDR bil ...     1,419 1,707 792 665 1,009    
balance sheet                    
Interbank Loans IDR bil       0 0 0 0 0    
Customer Loans IDR bil       22,152 27,008 26,073 23,390 15,947    
Debt Securities IDR bil       0 0 0 0 0    
Total Assets IDR bil       25,461 30,994 29,931 27,744 27,643    
Shareholders' Equity IDR bil       5,036 6,022 4,034 4,361 4,977    
Interbank Borrowing IDR bil       2,905 3,261 4,050 3,455 0    
Customer Deposits IDR bil       0 0 0 0 0    
Issued Debt Securities IDR bil       15,183 18,975 19,129 17,022 20,053    
ratios                    
ROE % ...     30.0 30.9 15.8 15.8 21.6    
ROA % ...     6.70 6.05 2.60 2.31 3.64    
Costs (As % Of Assets) % ...     13.7 10.0 10.2 11.1 11.2    
Costs (As % Of Income) % ...     52.3 44.2 52.1 54.3 48.0    
Capital Adequacy Ratio %       19.6 19.3 13.3 15.5 17.8    
Net Interest Margin % ...     14.2 12.4 12.2 13.5 16.5    
Interest Income (As % Of Revenues) % ...     54.2 54.6 62.3 66.2 70.7    
Fee Income (As % Of Revenues) % ...     44.9 0 0 0 0    
Staff Cost (As % Of Total Cost) % ... ... ... ... ... 60.5 49.7 55.8    
Equity (As % Of Assets) %       19.8 19.4 13.5 15.7 18.0    
Loans (As % Assets) %       87.0 87.1 87.1 84.3 57.7    
NPLs (As % Of Loans) % ... ... ... ... ... ... ... 20.7    
Provisions (As % Of NPLs) % ... ... ... ... ... ... ... 21.0    
valuation                    
Market Capitalisation (End Of Period) USD mil ... ... ... ... ... 581 252 502    
Number Of Shares (Average) mil ... ... ... 1,000 1,000 1,000 1,000 1,000    
Share Price (End Of Period) RUB ... ... ... ... ... 7,200 3,470 6,750    
Earnings Per Share (EPS) IDR ... ... ... 1,419 1,707 792 665 1,009    
Book Value Per Share IDR ... ... ... 5,036 6,022 4,034 4,361 4,977    
Dividend Per Share IDR ... ... ... 709 2,700 396 333 505    
Price/Earnings (P/E) ... ... ... ... ... 9.09 5.22 6.69    
Price/Book Value (P/BV) ... ... ... ... ... 1.78 0.796 1.36    
Dividend Yield % ... ... ... ... ... 5.50 9.58 7.48    
Earnings Per Share Growth % ... ... ... ... 20.3 -53.6 -16.1 51.8    
Book Value Per Share Growth % ... ... ... ... 19.6 -33.0 8.11 14.1    
income statement Unit 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018
income statement                    
Interest Income IDR bil ...     4,208 5,163 5,992 6,079 6,515    
Interest Cost IDR bil ...     1,193 1,671 2,262 2,198 1,937    
Net Interest Income IDR bil ...     3,015 3,492 3,730 3,881 4,578    
Net Fee Income IDR bil ...     2,496 0 0 0 0    
Other Income IDR bil ...     3,063 6,394 5,989 5,866 6,476    
Total Revenues IDR bil ...     5,560 6,394 5,989 5,866 6,476    
Staff Cost IDR bil ... ... ... ... ... 1,887 1,585 1,732    
Depreciation IDR bil ... ... ... ... ... ... ... 75.1    
Other Cost IDR bil ... ... ... ... ... ... ... 1,299    
Operating Cost IDR bil ...     2,907 2,826 3,120 3,187 3,106    
Operating Profit IDR bil ...     2,653 3,568 2,870 2,679 3,370    
Provisions IDR bil ...     750 1,278 1,809 1,778 1,652    
Extra and Other Cost IDR bil ...     7.26 7.55 0 0 0    
Pre-Tax Profit IDR bil ...     1,896 2,282 1,061 901 1,718    
Tax IDR bil ...     477 575 268 236 708    
Minorities IDR bil ...     0 0 0 0 0    
Net Profit IDR bil ...     1,419 1,707 792 665 1,009    
Dividends IDR bil ...     709 2,700 396 333 505    
growth rates                    
Net Interest Income Growth % ... ...   21.8 15.8 6.80 4.05 18.0    
Net Fee Income Growth % ... ...   11.5 -100 ... ... ... ... ...
Total Revenue Growth % ... ...   16.6 15.0 -6.33 -2.06 10.4    
Operating Cost Growth % ... ...   32.4 -2.78 10.4 2.17 -2.56    
Operating Profit Growth % ... ...   3.05 34.5 -19.6 -6.66 25.8    
Pre-Tax Profit Growth % ... ...   -10.2 20.4 -53.5 -15.1 90.7    
Net Profit Growth % ... ...   -10.4 20.3 -53.6 -16.1 51.8    
balance sheet Unit 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018
balance sheet                    
Cash IDR bil       2,249 1,264 582 1,060 941    
Interbank Loans IDR bil       0 0 0 0 0    
Customer Loans IDR bil       22,152 27,008 26,073 23,390 15,947    
Debt Securities IDR bil       0 0 0 0 0    
Fixed Assets IDR bil       331 331 358 317 305    
Total Assets IDR bil       25,461 30,994 29,931 27,744 27,643    
Shareholders' Equity IDR bil       5,036 6,022 4,034 4,361 4,977    
Of Which Minority Interest IDR bil       0 0 0 0 0    
Liabilities IDR bil       20,425 24,972 25,897 23,383 22,666    
Interbank Borrowing IDR bil       2,905 3,261 4,050 3,455 0    
Customer Deposits IDR bil       0 0 0 0 0    
Issued Debt Securities IDR bil       15,183 18,975 19,129 17,022 20,053    
Other Liabilities IDR bil       2,337 2,737 2,718 2,907 2,613    
asset quality                    
Non-Performing Loans IDR bil ... ... ... ... ... ... ... 3,458    
Gross Loans IDR bil       22,886 27,912 27,180 24,462 16,671    
Total Provisions IDR bil       734 904 1,107 1,072 725    
growth rates                    
Customer Loan Growth % ...     67.3 21.9 -3.46 -10.3 -31.8    
Total Asset Growth % ...     50.7 21.7 -3.43 -7.31 -0.364    
Shareholders' Equity Growth % ...     13.9 19.6 -33.0 8.11 14.1    
ratios Unit 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018
ratios                    
ROE % ...     30.0 30.9 15.8 15.8 21.6    
ROA % ...     6.70 6.05 2.60 2.31 3.64    
Costs (As % Of Assets) % ...     13.7 10.0 10.2 11.1 11.2    
Costs (As % Of Income) % ...     52.3 44.2 52.1 54.3 48.0    
Capital Adequacy Ratio %       19.6 19.3 13.3 15.5 17.8    
Net Interest Margin % ...     14.2 12.4 12.2 13.5 16.5    
Interest Spread % ...     12.6 10.9 10.8 12.2 15.1    
Asset Yield % ...     19.9 18.3 19.7 21.1 23.5    
Cost Of Liabilities % ...     7.25 7.36 8.89 8.92 8.41    
Payout Ratio % ...     50.0 158 50.0 50.0 50.0    
Interest Income (As % Of Revenues) % ...     54.2 54.6 62.3 66.2 70.7    
Fee Income (As % Of Revenues) % ...     44.9 0 0 0 0    
Other Income (As % Of Revenues) % ...     55.1 100 100 100 100    
Cost Per Employee USD per month ... ... ... ... ... 766 652 751    
Cost Per Employee (Local Currency) RUB per month ... ... ... ... ... 9,411,510 8,530,600 10,221,400    
Staff Cost (As % Of Total Cost) % ... ... ... ... ... 60.5 49.7 55.8    
Equity (As % Of Assets) %       19.8 19.4 13.5 15.7 18.0    
Loans (As % Assets) %       87.0 87.1 87.1 84.3 57.7    
NPLs (As % Of Loans) % ... ... ... ... ... ... ... 20.7    
Provisions (As % Of NPLs) % ... ... ... ... ... ... ... 21.0    
Provisions (As % Of Loans) %       3.31 3.35 4.24 4.58 4.54    
Cost of Provisions (As % Of Loans) % ...     4.24 5.20 6.82 7.19 8.40    
other data Unit 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018
other data                    
Branches ... ... ... ... ... 645 558 523    
Employees       19,639 18,620 16,708 15,487 14,118    
Clients mil ... ... ... ... ... 4.03 4.36 4.98    

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Adira Dinamika Multi Finance's market capitalisation (end of period) fell 8.97% to USD 697 mil in 2Q2019

By Helgi Analytics - November 05, 2019

Adira Dinamika Multi Finance stock traded at RUB 9,850 per share at the end of second quarter of 2019 implying a market capitalization of USD 697 mil. Over the last five years, the stock has depreciated by 13.2 implying an annual average growth of -2.80% ...

Adira Dinamika Multi Finance's net interest income rose 7.83% yoy to IDR 1,797 bil in 2Q2019

By Helgi Analytics - November 05, 2019

Adira Dinamika Multi Finance generated total banking revenues of IDR 2,227 bil in the second quarter of 2019, up 7.52% when compared to the same period of last year and 0.125% when compared to the previous quarter. Historically, the bank’s revenues containing...

Adira Dinamika Multi Finance's share price (end of period) rose 23.1% yoy to RUB 9,850 in 2Q2019

By Helgi Analytics - November 05, 2019

Adira Dinamika Multi Finance stock traded at RUB 9,850 per share at the end of second quarter of 2019 implying a market capitalization of USD 697 mil. Over the last five years, the stock has depreciated by -13.2 % implying an annual average growth of -2.80 %. In absol...

Adira Dinamika Multi Finance's equity (as % of assets) rose 3.17% yoy to 20.7% in 2Q2019

By Helgi Analytics - November 05, 2019

Adira Dinamika Multi Finance's Equity reached 22.8% of total assets in the 2Q2019, up from 19.5% for the previous year. As a share of net customer loans, the ratio amounted to 29.6% at the end of the second quarter of 2019. ...

Adira Dinamika Multi Finance's net profit rose 28.8% to IDR 1,815 bil in 2018

By Helgi Analytics - November 05, 2019

Adira Dinamika Multi Finance made a net profit of IDR 1,815 bil under revenues of IDR 8,446 bil in 2018, up 28.8% and 15.1% respectively compared to the previous year. Historically, the bank’s net profit reached an all time high of IDR 1,815 bil in 2018 and an all time l...

Adira Dinamika Multi Finance's net interest margin fell 14.2% to 22.0% in 2018

By Helgi Analytics - November 05, 2019

Adira Dinamika Multi Finance's net interest margin amounted to 22.0% in 2018, down from 25.7% compared to the previous year. Historically, the bank’s net interest margin reached an all time high of 33.3% in 2010 and an all time low of 12.2% in 2014. The...

Adira Dinamika Multi Finance's price/earnings (P/E) fell 0.854% to 5.01 in 2018

By Helgi Analytics - November 05, 2019

Adira Dinamika Multi Finance stock traded at RUB 9,100 per share at the end 2018 implying a market capitalization of USD 672 mil. Since the end of 2013, the stock has appreciated by % implying an annual average growth of 0 %. In absolute terms, the value of the compa...

Adira Dinamika Multi Finance's employees fell 0.542% to 13,397 in 2018

By Helgi Analytics - November 05, 2019

Adira Dinamika Multi Finance employed 13,397 persons in 2018, down 0.542% when compared to the previous year. Historically, the bank's workforce hit an all time high of 16,708 persons in 2014 and an all time low of 13,397 in 2018. Average cost reached USD 933 per ...

Adira Dinamika Multi Finance's net interest income fell 8.42% to IDR 6,722 bil in 2018

By Helgi Analytics - November 05, 2019

Adira Dinamika Multi Finance generated total banking revenues of IDR 8,446 bil in 2018, up 15.1% compared to the previous year. Historically, the bank’s revenues containing of interest, fee and other non-interest income reached an all time high of IDR 8,446 bil...

Adira Dinamika Multi Finance's costs (as % of assets) rose 10.5% to 13.8% in 2018

By Helgi Analytics - November 05, 2019

Adira Dinamika Multi Finance's cost to income ratio reached 49.7% in 2018, up from 48.5% compared to the previous year. Historically, the bank’s costs reached an all time high of 54.3% of income in 2015 and an all time low of 48.0% in 2016. When compared t...

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Finance

Adira Dinamika Multi Finance has been growing its revenues and asset by 12.9% and 4.32% a year on average in the last 3 years. Its loans and deposits have grown by 0.159% and 0% a year during that time and loans to deposits ratio reached at the end of 2018. The company achieved an average return on equity of 25.4% in the last three years with net profit growing 39.8% a year on average. In terms of operating efficiency, its cost to income ratio reached 49.7% in 2018, compared to 48.7% average in the last three years.

Equity represented 22.3% of total assets or 29.9% of loans at the end of 2018. Adira Dinamika Multi Finance's non-performing loans were 20.2% of total loans while provisions covered some 23.9% of NPLs at the end of 2018.

Valuation

Adira Dinamika Multi Finance stock traded at RUB 9,100 per share at the end of 2018 resulting in a market capitalization of USD 672 mil. Over the previous five years, stock price rose by 0% or 0% a year on average. That’s compared to an average ROE of 21.6% the bank generated for its shareholders. This closing price put stock at a 12-month trailing price to earnings (PE) of 5.01x and price to book value (PBV) of 1.29x in 2018.