Overall Performance H1 2025
- Net sales of IDR 18.2 trillion, with net profit of IDR 2.2 trillion.
- Net sales declined 4.4% year-on-year, grew by 13.1% versus H2 2024.
- Net profit decreased 12.6% year-on-year, increased by 139.0% versus H2 2024.
- Gross Margin decreased by 161 basis points year on year, improved by 305 basis points compared to H2 2024.
- Profit Before Tax (PBT) Margins declined 111 basis points year-on-year, expanded by 819 basis points versus H2 2024 to 15.5%.
- Advertising and promotion spend increased to 8.9% of total net sales, underscoring continued investment in brand equity and consumer engagement.
Statement from President Director, Benjie Yap
“While our H1 2025 performance remains below prior year level, we have seen sequential improvement over H2 2024—both in topline growth and profitability. Our brands, which represent 55% of our portfolio, delivered growth, reflecting stronger consumer engagement and portfolio resilience.
The fundamental of our business are also improving. Our targeted initiatives and decisive actions to address operational challenges are starting to deliver tangible results. These early gains provide a solid foundation for continued momentum and position us well to return to growth from Q3 2025 onward, in line with our stated trajectory.
Our Progress
Stronger Brands and Portfolios
Our priorities are anchored on three key pillars. First, we aim to Get more from the core by delivering unmissable brand superiority and launching breakthrough, multi-year innovations. Second, to Be the market makers by proactively developing the market, driving premiumisation, and executing brilliantly in the market. Lastly, we are Stepping up our business impact across all consumer and customer touchpoints.
Get more from the core
In the first half of 2025, we strengthen brand identity and value proposition of our big brands—including Pepsodent, Lifebuoy and Royco—by refreshing 6P - Product, Price, Place, Promotion, Prepositions and Pack.
Our big brands such as Pepsodent, Bango, Royco, Sunlight, Axe and Clear also delivered growth in H1, reaffirming their relevance and resilience in today’s dynamic market landscape.
Be the market makers
Reaching up – Tapping into high-growing segments is critical to capturing greater demand and showcasing our agility in responding to evolving consumer needs. In H1, our high growth segments in Beauty & Wellbeing (Sun, Serum, Treatments, Lightweight) posted +36% growth, with our premium portfolio also delivering growth in Q2, continuing its upward momentum.
Reaching down – To expand accessibility for all consumer segments, we continue to broaden our affordable offerings. Key initiatives include Lifebuoy Bar Soap; Bango magic priced at IDR 1000, and the introduction of a new pack size for Rinso, available at IDR 500. These innovations allow us to better serve consumer needs while strengthening our presence in general trade channels.
Stepping Up Business Impact Trough Go-to-Market Transformation
We have made strong progress across all key operational initiatives in H1, reinforcing our business fundamentals. We maintained optimal customer stock levels and improved our service level—the ability to deliver the right product, on time.
We further expanded direct coverage in 2025, allowing us to reach more outlets directly; increased sales force capacity, improving in-store execution and customer engagement; and optimised product assortments, ensuring the right SKU mix tailored to local needs. Collectively, these efforts contributed to stronger daily sales and a more profitable Distributive Trade model.
Enhancing Long-Term Value
To increase long term value for the shareholders, the Company plans to repurchase its issued shares and the shares that are listed on the PT Bursa Efek Indonesia with a maximum value of IDR 2 trillion. This initiative underscores Company’s ongoing commitment to enhancing shareholder returns while maintaining financial flexibility to invest in future growth. The Company believes this is a timely and strategic step forward.
Looking Forward
We remain focused on our strengthening our brands, enhancing our Go-To-Market capabilities, and driving greater cost competitiveness through operational discipline and transformation initiatives. With these efforts well underway, we are confident in our ability to return to growth starting in Q3 2025.