Pupuk Indonesia (PUPUK) investor relations material

Executive summary

• Achieved net profit of Rp8.89 trillion in 2024, up 42.10% year-over-year, with revenue of Rp81.62 trillion, up 3.04% from 2023, driven by higher production, operational efficiency, and effective market expansion strategies.

• Maintained strong financial position with total assets of Rp139.30 trillion and equity of Rp99.36 trillion, despite a 2.59% decrease in assets due to lower PSO receivables and inventories.

• Prioritized sustainability, digital transformation, and innovation, including green ammonia initiatives, digitalized fertilizer distribution, and ESG integration.

• Supported national food security through increased subsidized fertilizer allocation and robust collaboration with government and stakeholders.

Financial highlights

• Net profit for 2024 reached Rp8.89 trillion, up 42.10% year-over-year; revenue was Rp81.62 trillion, up 3.04%.

• Gross profit margin at 19.64%, operating profit margin at 15.55%, and net profit margin at 10.89%, all improved from 2023.

• EBITDA to revenue ratio at 16.59%; ROA at 6.38% and ROE at 8.94%, both higher than prior year.

• Cash and cash equivalents at year-end were Rp17.28 trillion, up 4.18% from 2023.

• Dividend payout for 2024 was Rp1.21 trillion, with a payout ratio of 19.57%.

Outlook and guidance

• 2025 projections: total production to increase 0.91% to 19.22 million tons, sales volume to rise 10.34% to 14.45 million tons.

• Net profit for 2025 projected to decrease 54.68% due to absence of one-time restructuring gains.

• Focus on expanding production capacity, digital transformation, green energy, and export market growth.

• Continued investment in R&D, precision agriculture, and sustainability initiatives.