14 June 2023
Company Report | High Raw Material Costs Still Weighing on Performance
In 1Q23, CPIN managed to record sales growth of 1.9% YoY to IDR 14.6 trillion (vs. 1Q22: IDR 14.3 trillion). The increase in raw material costs happened due to higher Soybean Meal (SBM) and Corn prices, by 3.5% YoY, which caused the cost of sales to increase by 10.0% YoY in 1Q23 and made gross profit contracted by 38.4% YoY to IDR 1.5 trillion.





