Indofood Agri Resources (5JS) H1 2026 earnings summary

Executive summary

• 1H26 revenue rose 2.5% YoY to Rp9,625bn and net profit increased 32.4% to Rp1,012bn, supported by FX and biological-asset fair-value gains.

• Core profit after tax, excluding FX, biological-asset fair-value changes and plasma receivable ECL effects, declined 1.9% to Rp927.6bn.

Financial highlights

• Gross profit fell 3.7% to Rp2,152bn; gross margin declined to 22.4% from 23.8%, mainly due to higher palm production costs.

• Adjusted EBITDA declined 4% to Rp2,048bn; operating profit rose 23% to Rp1.50tn and profit before tax increased 27.6% to Rp1.37tn.

• Net profit attributable to owners rose 31.6% to Rp444.5bn; fully diluted EPS increased to Rp318 from Rp242.

• FX gains were Rp134.6bn versus Rp8.5bn; biological assets generated a Rp78.5bn fair-value gain versus a Rp183.3bn loss.

Outlook and guidance

• Plantation priorities include improving operating results, cost discipline, agronomic innovation and targeted capital investment; edible oils and fats aims to grow volumes through pricing, distribution and product availability.

• Commodity prices are expected to remain volatile amid supply-demand shifts, weather disruptions including El Niño, geopolitical risks and policy changes.