PT Indofood Sukses Makmur Tbk (INDF) Q1 2025 earnings summary

Executive summary

• Net sales for the three months ended March 31, 2025 reached Rp31.56 trillion, up 2.5% year-over-year.

• Net income attributable to equity holders was Rp2.72 trillion, a 11.2% increase year-over-year.

• Total assets stood at Rp209.24 trillion as of March 31, 2025, up from Rp201.71 trillion at year-end 2024.

• The group maintained compliance with all loan covenants and continued to strengthen its capital structure.

Financial highlights

• Gross profit for Q1 2025 was Rp10.89 trillion, up from Rp10.51 trillion in Q1 2024.

• Operating income reached Rp6.92 trillion, a 7.9% increase year-over-year.

• EBITDA and EBIT margins improved, with basic EPS at Rp310, up from Rp279 in Q1 2024.

• Cash and cash equivalents rose to Rp42.53 trillion from Rp38.71 trillion at year-end 2024.

• Total equity increased to Rp112.58 trillion, with non-controlling interests at Rp44.95 trillion.

Outlook and guidance

• Management continues to monitor market and regulatory developments, including the implementation of OECD Pillar Two tax rules.

• The group aims to maintain healthy capital ratios and net gearing in line with industry peers.

• No significant seasonality expected, though demand for certain products may rise during holidays.