Annual Reports
PT Grahaprima Suksesmandiri Tbk's annual reports contain management's most considered account of the business. These are the sections, passages and visual pages worth opening in the originals preserved in Sources.
PT Grahaprima Suksesmandiri Tbk (Graha Trans) — 2025 Annual Report — FY2025
The latest report: revenue up 53% on a flat fleet, a related-party sourcing surge, and auditor-flagged capital intensity — the whole GTRA story in one book. · Open the full document →
Kegiatan dan Bidang Usaha / Business Activities and Sectors — p. 37 · Read the full section →
Defines what GTRA actually does — motorized transport of general cargo — and the rental service models it sells it through.
The chartered business purpose: land transport of general cargo through specialized service categories.
Pursuant to Article 3 of the Company’s Articles of Association, Graha Trans conducts its primary business activities in the field of motorized transportation for general cargo. The Company’s objective and purpose are to provide reliable land transportation services through the following specialized service categories:
p. 37 · Read in context →
Analisis & Pembahasan Manajemen / Management Discussion and Analysis — p. 66 · Read the full section →
The crux: the owned fleet was essentially flat (1,091 units) yet consolidated revenue jumped 53% — showing the growth came from coachbuilding, not more trucking.
Prospek Usaha / Business Outlook — p. 72 · Read the full section →
Management's stated 2026 plan centers on the Deltamas Pool — its bet on in-house coachbuilding, retreading and maintenance to cut costs.
The Deltamas Pool: a ~30,000 sqm integrated hub with a bodywork plant and retreading plant.
Optimism toward 2026 is also supported by various strategic initiatives that have been prepared and implemented throughout 2025, particularly in improving vehicle utilization and strengthening operational capabilities. One of the key initiatives is the development of the Deltamas Pool, which is targeted to commence operations as an integrated operational center on nearly 30,000 square meters of land. This facility will be equipped with an internal workshop, training center, bodywork manufacturing and repair plant, as well as a retreading plant.
p. 72 · Read in context →
Pangsa Pasar / Market Share — p. 75 · Read the full section →
Names the demand base — large FMCG distributors plus e-commerce, all domestic — the concentration that both drives and constrains the book.
Customer base dominated by large-scale FMCG producers needing high-volume distribution.
As of the end of 2025, the Company’s customer composition was dominated by companies operating in the fast-moving consumer goods (FMCG) sector, particularly those with large-scale production and high-volume distribution requirements.
p. 75 · Read in context →
Expansion into e-commerce partnerships; the entire base is Indonesia-domestic.
In line with the development of its business model, the Company has also expanded its market penetration by establishing partnerships with e-commerce players. All of these customers operate within Indonesia, therefore the Company’s market focus remains centered on domestic logistics needs.
p. 75 · Read in context →
Transaksi dengan Pihak Berelasi / Transactions with Related Parties — p. 77 · Read the full section →
The single most consequential disclosure: related-party purchases from PT Gama Putra Sukses Prima jumped to 38% of consolidated cost of revenues.
Management frames related-party dealings as support for “operations and business synergies.”
In conducting its business activities during 2025, the Company engaged in transactions with several related parties. These relationships were established to support operations and business synergies.
p. 77 · Read in context →
Manajemen Risiko / Risk Management — p. 111 · Read the full section →
The two risks that most fit a debt-funded fleet operator with related-party customers: trade-receivable credit risk and liquidity from heavy capex.
Credit risk centers on trade receivables from operating activities (original Indonesian text).
Risiko kredit yang dihadapi Perseroan berasal dari kegiatan operasi (terutama dari piutang usaha kepada pihak ketiga) dan dari kegiatan pendanaan, termasuk rekening bank.
p. 111 · Read in context →
Liquidity risk: capex and expansion drive a need for substantial working capital (original Indonesian text).
Risiko likuiditas didefinisikan sebagai risiko saat posisi arus kas Perseroan menunjukkan bahwa penerimaan jangka pendek tidak cukup menutupi pengeluaran jangka pendek. Kebutuhan likuiditas Perseroan secara historis timbul dari kebutuhan untuk membiayai investasi dan pengeluaran barang modal terkait dengan program perluasan usaha. Perseroan membutuhkan modal kerja yang substansial untuk menjalankan proyek-proyek baru dan untuk mendanai operasional.
p. 111 · Read in context →
Hal Audit Utama / Key Audit Matters (Independent Auditor's Report) — p. 184 · Read the full section →
The auditor's own list of what most needs judgment — a clean read on the accounting that defines this business model.
Fixed assets are 76.93% of total assets; trucks depreciated on a units-of-production basis.
As at December 31, 2025, the Group recorded net fixed assets of Rp956, 115,578,312, representing 76.93% of the Group's total assets. […] We identified this area as a key audit matter due to the significant management judgment involved in the recognition, measurement, derecognition, and depreciation of fixed assets. This includes, in particular, determining whether certain expenditures meet the criteria for capitalization, assessing when assets are ready for their intended use, accounting for asset disposals, evaluating indicators of impairment, and determining the appropriate depreciation methods and estimates of the asset's useful economic lives, including trucks that are depreciated using the units-ofproduction method.
p. 184 · Read in context →
Revenue and receivable recoverability — flagged partly because of related-party balances.
For the year ended 31 December 2025, the Group recorded revenue of Rp656,304,660,831, which primarily arises from transportation and coachbuilding services. […] We identified this area as a key audit matter due to the significant judgment involved in revenue recognition, particularly in determining the appropriate timing of revenue recognition, the existence of supporting documentation evidencing the delivery of services or goods, and the assessment of the recoverability of trade receivables
p. 185 · Read in context →
PT Grahaprima Suksesmandiri Tbk (Graha Trans) — 2023 Annual Report — FY2023
The IPO-year baseline: coachbuilding was a rounding error and no single supplier reached 10% of purchases — the “before” against which the FY2025 related-party surge stands out. · Open the full document →
Catatan 24 & 32 / Notes 24 (Cost of Revenues) and 32 (Segment Information) — p. 281 · Read the full section →
Shows the pre-transformation shape: coachbuilding just Rp12.4bn of Rp344.9bn revenue and an explicit statement of no supplier concentration.
FY2023: no single-party purchase exceeded 10% of consolidated net revenue (“no purchases from a single party exceeded 10%…”).
Tidak terdapat pembelian kepada satu pihak yang melebihi 10% dari total pendapatan neto konsolidasian.
p. 281 · Read in context →
More annual reports
PT Grahaprima Suksesmandiri Tbk (Graha Trans) — 2024 Annual Report — FY2024 · 266 pages · The intervening year (revenue Rp428.9bn) that bridges the FY2023 baseline and the FY2025 coachbuilding scale-up. · Open →