11 May 2026
XA Update Report | PT Indofood CBP Sukses Makmur Tbk. (ICBP) — Solid Top-Line, but Margin Headwinds Still Persist
ICBP delivered a resilient top-line in 1Q26, with revenue rising +8% YoY (+17% QoQ) to IDR 21.7 tn, coming in line with our estimate at a 28% run-rate of our FY26F revenue forecast.

