PT Indofood Sukses Makmur Tbk (INDF) Q2 2024 earnings summary

Executive summary

• Interim consolidated financials for the six months ended June 30, 2024, show stable revenue and profitability, with continued focus on core business segments and prudent financial management.

• Management affirms responsibility for the accuracy and completeness of disclosures, and internal controls remain robust.

Financial highlights

• Net sales reached Rp57,296,309 million, up 2.2% year-over-year from Rp56,086,595 million.

• Gross profit increased to Rp19,806,183 million from Rp17,305,939 million year-over-year.

• Operating income rose to Rp11,751,028 million, up from Rp8,858,409 million year-over-year.

• Net income for the period was Rp5,842,379 million, down from Rp7,476,161 million year-over-year.

• Basic EPS attributable to equity holders was Rp439, compared to Rp634 in the prior year period.

Segment performance

• Consumer Branded Products contributed Rp36,583,992 million in external sales, with segment operating income of Rp8,539,776 million.

• Bogasari segment posted Rp12,072,657 million in sales and Rp1,214,784 million in operating income.

• Agribusiness segment reported Rp5,040,106 million in sales and Rp936,965 million in operating income.

• Distribution segment delivered Rp3,599,554 million in sales and Rp313,094 million in operating income.