CDIA earnings drop 61.0 per cent despite higher revenue
Lower other gains, rising financing costs and a larger tax bill weighed on the Indonesian infrastructure company’s results through the third quarter of 2026.
Profit attributable to shareholders of PT Chandra Daya Investasi Tbk (CDIA) fell 61.0 per cent through the third quarter of 2026, despite revenue growth. In an Indonesia Stock Exchange disclosure dated 29 October, management attributed the decline to fair-value gains recognised in the comparable period last year.
Other gains totalled US$3.4 million, against US$45.3 million a year earlier. Profit before tax decreased by 47.4 per cent to US$44.5 million, while the income tax charge climbed to US$12.3 million from US$1.15 million.
Financing expenses nearly doubled, reaching US$40.2 million compared with US$20.9 million. General and administrative costs increased to US$13.3 million from US$7.8 million. Finance income provided a partial offset, rising to US$29.8 million from US$21.08 million, alongside a foreign-exchange gain of US$12.9 million after a US$1.8 million loss.
Revenue reached US$122 million, an increase of 16.4 per cent, but the cost of revenue grew faster at 19.3 per cent to US$96.4 million. Gross profit was US$25.6 million, up 6.5 per cent, while the gross margin declined to 21.0 per cent from 22.9 per cent.
Management said the infrastructure business remained stable, with third-party customers generating about 80 per cent of revenue and contracts accounting for more than 90 per cent. Projects continued towards a target of commercial operations in 2027, it said.
By 30 September 2026, the group had used all IPO proceeds allocated to vessel investment, while spending on ports and storage had reached 65 per cent of its allocation. CDIA reported US$747.9 million in liquidity at that date and said it had paid an interim dividend of US$10.0 million for the first half of 2026.
