Bumitama Agri (P8Z) H1 2025 earnings summary

Executive summary

• 1H25 revenue rose 28.2% to IDR9,742,713m; profit for the period increased 50.9% to IDR1,511,910m, while net profit attributable to owners rose 48% to IDR1.27tn. Higher palm-product prices and productivity supported growth.

• Production began recovering in 2Q25 after a low crop cycle in 1Q25; 2H25 is expected to contribute the larger share of annual production.

Financial highlights

• 1H25 gross profit rose 43.0% to IDR2,572,728m and EBITDA increased 42.2% to IDR2,548,643m; EBITDA margin was 26.2% versus 23.6%.

• Profit before taxation increased 62.6% to IDR2,080,602m; EPS was IDR730 versus IDR494 in 1H24.

• 2Q25 revenue was IDR5.15tn, near the 4Q24 record; net profit rose 46% YoY to IDR770.70bn from IDR528.41bn.

• Cost of sales rose 23.6% to IDR7,169,985m, reflecting higher externally purchased FFB prices, competition for external FFB and increased fertilizer applications.

Outlook and guidance

• Production is expected to be weighted toward 2H25, with the second semester anticipated to be the larger half.

• CPO prices may remain volatile and potentially trend downward amid geopolitical shifts, trade tariffs, vegetable-oil supply and demand, and weather; long-term palm-oil fundamentals are expected to remain robust.

• Priorities include replanting, innovation, agricultural best practices, efficiency and cost management.