PT Indofood CBP Sukses Makmur Tbk (ICBP) Q2 2024 earnings summary

Executive summary

• Net sales for the six months ended June 30, 2024, reached Rp36,961,357 million, up 7.2% year-over-year from Rp34,478,639 million.

• Income for the period was Rp4,375,991 million, a decrease from Rp6,458,611 million in the same period last year.

• Basic earnings per share attributable to equity holders was Rp303, down from Rp491 year-over-year.

Financial highlights

• Gross profit increased to Rp13,982,818 million from Rp12,530,314 million year-over-year.

• Operating income rose to Rp8,893,129 million from Rp7,097,738 million year-over-year.

• Finance expenses surged to Rp3,848,558 million from Rp989,313 million year-over-year.

• Total assets as of June 30, 2024, were Rp125,208,506 million, up from Rp119,267,076 million at year-end 2023.

• Total equity increased to Rp63,527,591 million from Rp62,104,033 million at year-end 2023.

Outlook and guidance

• Management continues to monitor market and economic conditions, maintaining healthy capital ratios and liquidity.

• The Group expects to maintain optimal inventory levels and periodically adjust product prices to mitigate commodity price risks.