Indofood Financial Results For the Period Ended 31 March 2023
• Consolidated net sales increased 11% to Rp30.54 trillion
• Income from operations decreased 5% to Rp4.97 trillion
• Core profit grew 13% to Rp2.90 trillion
Jakarta, 2 May 2023 – PT Indofood Sukses Makmur Tbk (“Indofood” or the “Company”) ”) today announced its financial results for the period ended 31 March 2023. The Company posted an 11% growth in consolidated net sales to Rp30.54 trillion from Rp27.45 trillion in the same period last year.
Income from operations decreased 5% to Rp4.97 trillion from Rp5.20 trillion mainly due to lower CPO prices which impacted the Agribusiness Group’s performance, however Indofood still booked a healthy operating margin of 16.3% compared to 19.0% in the first quarter of 2022. Core profit, which reflects the underlying operational performance, grew 13% to Rp2.90 trillion from Rp2.57 trillion.
Anthoni Salim, the President Director and Chief Executive Officer of Indofood, said: “Despite persistent global challenges, Indofood has been able to maintain its solid performance in the first quarter of 2023. Moving forward, we will continue to balance our market share with profitability and maintaining a healthy balance sheet.”
About PT Indofood Sukses Makmur Tbk
Indofood is a Total Food Solutions company with operations in all stages of food manufacturing, from the production of raw materials and their processing, to consumer products in the market. It is renowned as a well-established company and a leading player in many business categories in which it operates. In its business operations, Indofood capitalizes on economies of scale and a resilient business model with four complementary Strategic Business Groups (“Group”), namely:
- Consumer Branded Products (“CBP”)
Supported by the strength of its product brands, the Group produces a diverse range of consumer branded products including noodles, dairy, snack foods, food seasonings, nutrition and special foods, and beverages.
The Group is primarily a producer of wheat flour as well as pasta, with business operations supported by its own shipping and packaging units.
The Group’s principal activities range from research and development, seed breeding, oil palm cultivation and milling, to the production and marketing of branded cooking oils, margarine and shortening. The Group also cultivates and processes sugar cane, rubber and other crops.
With the most extensive distribution network in Indonesia, the Group distributes the majority of the consumer products manufactured by Indofood and its subsidiaries, as well as by third parties, to the market.
For further information, please contact:
PT Indofood Sukses Makmur Tbk
Tel : +6221 5795 8822
Fax: +6221 5793 7373