In the midst of market turmoil, CUAN managed to record an impressive performance with a net profit that soared to 929% year-on-year (YoY) in 2024. This was revealed in their latest financial report for the fourth quarter (4Q24), where net profit reached $130 million, a significant increase from $0.9 million in 3Q24 and $4 million in 4Q23.

Causes of Encouraging Net Profit Surge

This surge in net profit cannot be separated from one important factor, namely the one-time effect of the purchase profits that CUAN has successfully made. They got a discount of 152 million US dollars from the acquisition of PT Multi Tambangjaya Utama and $PTRO. Although net profit soared, it should be noted that gross profit during the quarter actually declined, namely -81% QoQ and -11% YoY, due to an increase in the cost of revenue which grew faster than revenue.

Revenue That Keeps Going

Unfortunately, not all good news comes without a note. In terms of revenue, the company recorded encouraging growth, increasing by 719% YoY to 802 million US dollars throughout 2024! Gross profit also experienced a significant increase, recorded growing 217% YoY to 118 million US dollars.

Bright Dividend Prospects

One of the most awaited news is CUAN, which now has a positive retained earnings of $124.1 million at the end of 2024, up from negative $36.7 million in the previous year. This gives hope to investors, as it allows CUAN to distribute dividends for the 2024 financial year. Is it time for investors to get ready to get dividends?

What’s Next for CUAN?

With this remarkable achievement, CUAN showed that they have the right strategy in place amid industry challenges. Can they maintain this momentum and continue to deliver satisfactory results in the future? Only time will tell. However, for investors, this is a great time to consider investing in CUAN, especially with the dividend potential becoming increasingly apparent.