PT BISI International (BISI) Q4 2023 earnings summary

Executive summary

• FY2023 audited statements received an unmodified opinion; net sales declined while gross profit, operating profit, net income and EPS increased YoY.

• Total assets reached Rp3,901,820 million at Dec. 31, 2023, while equity was Rp3,446,696 million.

Financial highlights

• Net sales were Rp2,298,131 million vs. Rp2,415,592 million in 2022; cost of goods sold fell to Rp1,136,012 million from Rp1,395,090 million.

• Gross profit rose to Rp1,162,119 million from Rp1,020,502 million; operating profit increased to Rp692,341 million from Rp616,250 million.

• Profit before tax was Rp733,895 million vs. Rp644,894 million; net income was Rp595,740 million vs. Rp523,242 million.

• Net cash from operations was Rp42,910 million vs. Rp668,145 million; cash and cash equivalents ended at Rp1,042,206 million vs. Rp1,501,451 million.

Outlook and guidance

• A cooperation agreement with Chia Tai Co., Ltd. for crop R&D was signed in Oct. 2023; research began in Jan. 2024, with results to be used by both parties.