Company Report | [SIDO IJ] Strong Performance in 4Q23

Coal Average Selling Price Increase

The recovery was evident in SIDO’s 4Q23 performance, where QoQ sales were able to increase higher by 70% to IDR 1.2 trillion (vs. 3Q23: IDR 707.5 billion), supported by better demand, especially in the Herbal Medicine and Supplement segment. SIDO’s exports posted a strong performance, with a 39.5% YoY increase in 4Q23, supported by exports of Tolak Angin to the Philippines, energy drinks to Malaysia, and growth in essential oil exports. On the bottom line, net profit managed to increase significantly by 163% QoQ to IDR 364.1 billion (vs. 3Q23: IDR 138.5 billion), with NPM also recorded higher at 30%.

Asset Growth

The recovery was evident in SIDO’s 4Q23 performance, where QoQ sales were able to increase higher by 70% to IDR 1.2 trillion (vs. 3Q23: IDR 707.5 billion), supported by better demand, especially in the Herbal Medicine and Supplement segment.