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Pupuk Indonesia (PUPUK) investor relations material

Pupuk Indonesia Q4 2024 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
Logotype for Pupuk Indonesia
Q4 2024 earnings summary5 Jun, 2025

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.

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Frequently asked questions

Pupuk Indonesia is an Indonesian state-owned enterprise specializing in the production and distribution of fertilizers and agricultural chemicals. The company provides a range of products, including urea, ammonia, and compound fertilizers, serving the agricultural sector to support crop yield and soil health. Pupuk Indonesia operates multiple production facilities and an extensive distribution network to supply fertilizers across Indonesia and export markets. In addition to manufacturing, the company is involved in research and development focused on sustainable agriculture, soil health, and advanced fertilization technologies. The company is headquartered in Jakarta, Indonesia.

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