PT Japfa Comfeed Indonesia (JPFA) Q2 2025 earnings summary

Executive summary

• Maintains position as Indonesia's second largest poultry feed and DOC producer, with 90% of revenue from poultry-related activities and a vertically integrated model.

• Net sales for the six months ended June 30, 2025 reached Rp27.48 trillion, slightly down from Rp27.65 trillion year-over-year.

• Net profit attributable to owners was Rp1.24 trillion, a decrease from Rp1.48 trillion in the same period last year.

• Total assets as of June 30, 2025 stood at Rp36.37 trillion, up from Rp34.67 trillion at year-end 2024.

• The group maintained a strong equity position with total equity of Rp17.07 trillion as of June 30, 2025.

Financial highlights

• 1H2025 revenue IDR 27,482B, down 0.6% year-over-year; operating profit IDR 2,101B, down 20.7% year-over-year.

• EBITDA for 1H2025 at IDR 2,730B, down 15.1% year-over-year; net profit at IDR 1,362B, down 14.3% year-over-year.

• Gross profit for H1 2025 was Rp5.28 trillion, down from Rp5.36 trillion year-over-year.

• Cash and cash equivalents increased to Rp1.73 trillion as of June 30, 2025 from Rp1.35 trillion at year-end 2024.

• 1H2025 capex at IDR 932B, up from IDR 715B in 1H2024.

Outlook and guidance

• Long-term prospects for protein consumption in Indonesia remain favorable, with ample room for growth given low per capita poultry consumption.

• Plans to strengthen downstream business through poultry processing, consumer products, and retail expansion.

• Management remains flexible with capex, adjusting to market demand and macroeconomic conditions.

• Management continues to focus on maintaining healthy capital ratios and optimizing funding sources.

• The group is monitoring commodity price risks and foreign exchange volatility, with hedging strategies in place.