PT Indofood CBP Sukses Makmur Tbk (ICBP) Q3 2024 earnings summary

Executive summary

• Net sales for the nine months ended September 30, 2024, reached Rp55.49 trillion, up 8.2% year-over-year.

• Net income attributable to equity holders was Rp8.15 trillion, a 15.4% increase year-over-year.

• Total assets grew to Rp124.19 trillion as of September 30, 2024, from Rp119.27 trillion at year-end 2023.

• The company distributed cash dividends of Rp2.33 trillion in July 2024.

Financial highlights

• Gross profit rose to Rp20.64 trillion, up from Rp18.61 trillion year-over-year.

• Operating income increased to Rp11.99 trillion from Rp10.89 trillion year-over-year.

• EBITDA and EBIT margins improved, with basic EPS at Rp699 versus Rp605 in the prior year.

• Total equity reached Rp67.71 trillion, up from Rp62.10 trillion at year-end 2023.

• Cash and cash equivalents stood at Rp19.28 trillion as of September 30, 2024.

Outlook and guidance

• The group continues to focus on maintaining healthy capital ratios and optimizing inventory levels to mitigate commodity price risks.

• No significant seasonality expected, except for increased demand for syrup products before holiday seasons.