PT Indofood CBP Sukses Makmur Tbk (ICBP) Q4 2024 earnings summary

Executive summary

• Net sales reached Rp72.60 trillion for the year ended December 31, 2024, up 6.9% year-over-year.

• Net income attributable to equity holders was Rp7.08 trillion, a 1.3% increase from 2023.

• The Group maintained a strong cash position with cash and cash equivalents of Rp25.29 trillion at year-end.

• The independent auditor issued an unqualified opinion, confirming fair presentation in accordance with Indonesian Financial Accounting Standards.

Financial highlights

• Gross profit rose to Rp26.89 trillion, up from Rp25.13 trillion year-over-year.

• Operating income increased to Rp16.32 trillion, a 13.5% rise from the previous year.

• EBITDA and EBIT margins improved, with EBITDA supported by higher sales and cost control.

• Basic earnings per share was Rp607, compared to Rp599 in 2023.

• Total assets grew to Rp126.04 trillion, with total equity at Rp67.04 trillion.

Outlook and guidance

• The Group continues to monitor legislative developments on global tax (Pillar Two) and expects no material impact in 2025.

• Management remains focused on maintaining healthy capital ratios and optimizing working capital.

• No significant changes in business strategy or capital structure are planned for 2025.