PT Japfa Comfeed Indonesia (JPFA) Q1 2025 earnings summary

Executive summary

• Net sales for Q1 2025 reached IDR 14.33 trillion, up 2.9% year-over-year, with net income at IDR 754.1 billion, a 5.4% increase from Q1 2024.

• Achieved stable profitability despite poultry price volatility, with gross profit at IDR 2.69 trillion and gross margin at 18.8%.

• Feed remains a core profit driver, supported by higher demand during Ramadan and resilient margins.

• Maintains position as Indonesia's second-largest poultry feed and DOC producer, leveraging scale and vertical integration.

• Distributed total cash dividends for 2024 of IDR 1.63 trillion or IDR 140 per share.

Financial highlights

• Operating profit for Q1 2025 was IDR 1.14 trillion, up 6.2% year-over-year; EBITDA up 2.6% to IDR 1.43 trillion.

• Net profit increased 5.4% year-over-year to IDR 754 billion.

• Net debt/equity improved to 52.5% from 78.9% a year earlier.

• Total assets as of March 2025 stood at IDR 35.6 trillion.

• Capex for Q1 2025 was IDR 381 billion, reflecting prudent investment aligned with demand.

Outlook and guidance

• Long-term protein consumption growth in Indonesia remains robust, with ample room for per capita increases.

• Plans to strengthen downstream business, expand poultry processing, and grow retail sales channels.

• Focus on navigating market cyclicality and maintaining cost leadership.