ICBP – Modest Performance amid Declining Margin
ICBP closed 2Q21 with a modest performance, with declining margin across the board due to rising material costs. The
INDF – Solid Performance Growth Continues
INDF maintained solid revenue and net profit growth in 2Q21, on the back of strong performances from all segments. We
ACES – Hindered by Temporary Store Closures
We believe ACES will be conservative in the near future given the uncertainty surrounding the recovery pace of consumer
ERAA – Aggressive Expansion Plan
ERAA closed 2Q21 with a strong performance. It was supported by a combination of Lebaran season and robust performance
MYOR – Decent Performance Despite Lower Margin
MYOR’s 2Q21 results were decent amid unfavorable conditions. However, we are concerned with MYOR’s performance in the
KLBF – Great Results as Expected
KLBF closed 1H21 with encouraging results on the back of decent performance from all segments. To capture growing demand
SIDO – Solid Result with Strong Expansion Plans
SIDO closed 2Q21 with stellar performance. We expect SIDO’s top line to grow even stronger in the upcoming quarters
MAPI – Hampered by Tightening PPKM
We see noticeable improvements from the company, reflected in its SSSG and earning performance in 1Q21. However, this
ACES – Going through Steep Paths
ACES closed 1Q21 with an underwhelming performance due to high base and negative SSSG. Profitability margins were
