PT Japfa Comfeed Indonesia (JPFA) Q3 2024 earnings summary

Executive summary

• Net sales for 9M2024 reached IDR 41.3 trillion, up 9.3% year-over-year, with growth across all business segments.

• Net profit for the period rose to IDR 2.25 trillion, a 126% increase year-over-year.

• Feed remains a stable profit pillar, while breeding and commercial farming returned to profit after three years of losses.

• Vertically integrated business model and nationwide footprint support operational efficiency and market leadership.

• Interim dividend of IDR 70 per share declared for 2024, payable in October.

Financial highlights

• Revenue rose 9.3% year-over-year to IDR 41.3 trillion.

• Operating profit increased 85.1% year-over-year to IDR 3.8 trillion.

• EBITDA grew 61.7% year-over-year to IDR 4.6 trillion.

• Net profit attributable to owners was IDR 2.10 trillion, up from IDR 937 billion year-over-year.

• Basic earnings per share increased to IDR 180 from IDR 81 year-over-year.

Outlook and guidance

• Focus on downstream expansion, aquaculture, and animal health as future growth drivers.

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

• Cautious approach to non-essential capex amid global macroeconomic uncertainties.

• Emphasis on operational efficiency, risk management, and prudent capital management.