Company Report | Net Profit Surges Supported by Forex Gains

Coal Average Selling Price Increase

Throughout 6M23, INDF’s sales were recorded at IDR56.1 trillion or grew 6.3% YoY, with NPM jumping to 9.9% (vs 6M22: 5.5%) in 6M23 as net profit increased 91.9% YoY to IDR5.6 trillion. This increase was due to forex gain from financing activities amounting to IDR2.1 trillion. Meanwhile, the Bogasari segment posted a 5.2% YoY increase in sales to IDR15.8 trillion. Furthermore, throughout 6M23, the Company has reduced its average selling price by around 6% to 8% in line with the declining global wheat prices.

Asset Growth

Throughout 6M23, INDF’s sales were recorded at IDR56.1 trillion or grew 6.3% YoY, with NPM jumping to 9.9% (vs 6M22: 5.5%) in 6M23 as net profit increased 91.9% YoY to IDR5.6 trillion.