INDOFOOD’S FIRST QUARTER 2009 FINANCIAL RESULT
Jakarta, 30 APRIL 2009 – PT Indofood Sukses Makmur Tbk (“Indofood”) today announced its financial results for the first quarter ended March 31, 2009, reporting consolidated net sales of Rp8.91 trillion, grew 0.7% from Rp8.85 trillion in the same quarter last year.
The Consumer Branded Product (“CBP”) Group, which now consists of Noodles, Food Seasoning, Snack Foods, Nutrition & Special Foods, and Dairy Division, contributed 44.5% to consolidated net sales, an increase from 31.7% in the same period last year, partly due to the consolidation of Indolakto (Dairy Division), which was acquired in late December 2008.
Bogasari Group contribution to consolidated net sales increased to 31.1% from 29.1% in the same quarter last year, mainly due to the increase in sales volume, despite lower average selling price. Contribution from Agribusiness Group declined to 19.0% from 27.7% due to lower CPO prices. Contribution from Distribution Group also dropped to 5.4% from 11.5% principally because the dairy sales is now included in the CBP Group.
Gross profit declined 6.1% to Rp2.26 trillion from Rp2.41 trillion primarily due to lower CPO price. Consequently, operating profit declined to Rp1.13 trillion from Rp1.22 trillion. Gross margin declined to 25.4% from 27.2% and operating margin declined to 12.7% from 13.8%. Net profit declined to Rp110.4 billion from Rp373.5 billion as a result of foreign exchange losses and higher financing cost. Excluding non-recurring items and foreign exchange losses, core profit remains strong at Rp368.5 billion, declined slightly from Rp386.4 billion in the same quarter last year.
Anthoni Salim, the President Director and Chief Executive Officer of Indofood, said: “The rupiah weakness continued to undermine our bottom line. Our overall results from operations remains resilient to the various challenges presented, reflecting the strength of our business model”.
-End-
About PT Indofood Sukses Makmur Tbk
PT Indofood Sukses Makmur Tbk (“Indofood”) (IDX: INDF) is a leading processed food company in Indonesia. Indofood provides total food solutions through its four strategic business groups: consumer branded products (CBP), Bogasari (flour producer), agribusiness, and distribution. Indofood’s strongest legacy today is the strength of its brands, many of which have been companions to the people of Indonesia for nearly two decades. These include a variety of brands of instant noodles (Indomie, Supermi and Sarimi), wheat flour (Segitiga Biru, Kunci Biru and Cakra Kembar), cooking oils (Bimoli), margarine (Simas Palmia) and shortenings (Palmia). The acquisition of Indolakto, one of the leading processed milk producers (Indomilk) has positioned Indofood as the Progressive Total Food Solutions company. Indofood brands continue to be the market leaders in their specific segments with a reputation for quality and value for money that remains unrivalled.
For further information, please contact:
Werianty Setiawan
PT Indofood Sukses Makmur Tbk
Corporate Secretary & Head of Investor Relations
Tel: +62 21 5795 8822 ext. 1215
Email: werianty@indofood.co.id