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CPIN – Suppressed by Broiler Segment

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Anggaraksa Arismunandar
Anggaraksa Arismunandar
Head of Research and Analyst Division
Anggaraksa Arismunandar
Latest posts by Anggaraksa Arismunandar (see all)
  • ASII – Positive Catalysts Continue - March 23, 2022
  • WIKA – Better Performance, New Contracts Still Lagging - January 12, 2022
  • SMGR – Facing Higher Costs - December 17, 2021

CPIN booked a relatively solid Revenue of IDR 12.1 Trillion in 3Q21(+14.2% YoY) in 3Q21. However, higher COGS resulted in lower margin turned a quarterly net loss of IDR 158 Bn. The sluggish performance was mainly attributed to Broiler segment which had a huge loss, effectively offset income from other segments. Higher corn price will remain as a huge challenge for CPIN performance in the upcoming quarters.

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