PT Charoen Pokphand Indonesia (CPIN) Q3 2024 earnings summary

Executive summary

• Net sales for the nine months ended September 30, 2024, reached Rp49.72 trillion, up 5.5% year-over-year, with all major business segments contributing to growth.

• Net income attributable to owners was Rp2.39 trillion, a decrease from Rp2.68 trillion in the prior year period.

• Gross profit remained stable at Rp6.98 trillion, with gross margin slightly declining due to higher cost of goods sold.

Financial highlights

• Operating profit was Rp3.65 trillion, down from Rp3.88 trillion year-over-year.

• EBITDA and EBIT margins were pressured by increased selling and administrative expenses.

• Basic earnings per share for the period was Rp146, compared to Rp163 in the prior year.

• Total assets as of September 30, 2024, stood at Rp42.92 trillion, up from Rp40.97 trillion at year-end 2023.

• Total equity increased to Rp28.94 trillion, while total liabilities were Rp13.99 trillion.

Outlook and guidance

• Management continues to focus on operational efficiency and product quality to address market volatility and cost pressures.

• The company aims to maintain a healthy capital structure and leverage ratio, targeting a maximum debt-to-equity ratio of 2.00.