Hartadinata Books 44.6% Surge in Net Profit in 2024 on Strong Gold Sales

JAKARTA, investortrust.id — Indonesian gold jewelry producer and wholesaler PT Hartadinata Abadi Tbk has posted a 44.6% jump in net profit to Rp 442.18 billion in 2024, as robust domestic demand and higher gold prices boosted the company’s financial performance.

In a press release issued Tuesday, April 8, 2025, Hartadinata said the increase in profit was supported by a 41.78% surge in revenue, which reached Rp 18.23 trillion in 2024 from Rp 12.86 trillion the previous year. The company, traded under the ticker HRTA, attributed this to higher gold sales volumes and a rise in average selling prices.

The company reported that total pure gold sales grew by 16.83% to 15.11 tons in 2024, up from 12.93 tons in 2023. In addition, the average selling price of gold rose by 21.54% to Rp 1.2 million per gram, up from Rp 987,700 in 2023.

Wholesale transactions remained the backbone of Hartadinata’s revenue stream, contributing 62.32% to total sales. Retail sales followed at 25.95%, while pawn-based sales contributed 0.45%. Meanwhile, the company’s export segment declined sharply, contributing only 0.03% to total sales.

Hartadinata’s strong performance translated into improved profitability ratios. The company booked a return on assets (ROA) of 7.42% and a return on equity (ROE) of 18.82% in 2024. Its debt-to-equity ratio based on interest-bearing liabilities stood at 1.45 times last year.

Earnings per share climbed by 44.6% from Rp 66.40 to Rp 96.02 per share in 2024, aligning with the rise in net profit.