PT Charoen Pokphand Indonesia (CPIN) Q2 2024 earnings summary

Executive summary

• Net sales for the six months ended June 30, 2024, reached Rp32,961,973 million, up 6.7% year-over-year, with all major business segments contributing to growth.

• Operating profit rose to Rp2,904,448 million, a 39% increase compared to the same period last year, driven by higher gross profit and stable operating expenses.

• Net income attributable to owners was Rp1,768,080 million, up 28% year-over-year, with basic earnings per share at Rp108.

Financial highlights

• Gross profit increased to Rp4,952,013 million from Rp4,129,007 million year-over-year.

• EBITDA and EBIT margins improved, reflecting better cost control and higher sales volumes.

• Total assets as of June 30, 2024, stood at Rp42,659,855 million, up from Rp40,970,800 million at year-end 2023.

• Cash and cash equivalents at period end were Rp2,117,225 million.

• Total equity increased to Rp28,315,559 million.

Outlook and guidance

• Management continues to monitor market and industry conditions, focusing on maintaining healthy capital ratios and maximizing shareholder value.

• Ongoing investment in production capacity and technology to support future growth.