The Company continued to build positive momentum, delivering strong volume-led growth in Q4 and closing the year with growth in both domestic and export sales. This performance reflects decisive actions taken to strengthen business fundamentals and drive sustainable growth.
Performance Highlights
- Net sales for Continuing Operations reached IDR 31.9 trillion, growing 4.3% year-on-year.
- Gross margin for Continuing Operations was 46.9%, a decrease of 60 basis points compared to last year due to higher transformation costs. Excluding transformation costs, gross margin would have been +46 bps.
- Profit before tax for Continuing Operations increased to 14.1%, a significant uplift of 183 basis points year-on-year. Excluding transformation costs, profit before tax would have been 16.3%.
- Net profit for Continuing Operations was IDR 3.5 trillion, an increase of 21.8% year-on-year. Excluding transformation costs, net profit would have reached IDR 4.1 trillion.
- Including Discontinued Operations and Net Gain from Ice Cream proceeds, the Company posted IDR 7.6 trillion in net profit for FY 2025.
- Strong free cash flow of IDR 4.9 trillion, 1.7× higher than the previous year, with zero debt.
Statement from President Director, Benjie Yap
“Our full‑year results show that the recovery momentum we built has continued to strengthen. The disciplined actions and structural changes we put in place are delivering sustained impact, reflected in growth and uplift in profitability.
While the environment remains dynamic, this performance reinforces our confidence that we are firmly on the right path — building a business that is more competitive, more resilient, and better positioned for responsible and sustainable growth in the years ahead.”
2025 Reflection: Making Progress Towards Strategic Priorities in Category, Channel, and Cost
The Company anchors its growth strategy on three core pillars—Category, Channel, and Cost—each reinforcing the ambition of delivering long‑term, quality-led growth.
1. Category: Strengthening Brand Desire and Portfolio Focus
In 2025, the Company continued to focus on building Desire at Scale, sharpening our portfolio toward faster‑growing segments, and accelerating social‑first demand creation.
To build Desire at Scale, we continued to invest behind our brands by strengthening brand superiority and formulations, sharpening brand propositions, elevating our promotional approach through a stronger social‑first strategy, making selective and strategic price adjustments to close value gaps, premiumizing and modernizing our packs to win in the market, and investing in stronger availability and visibility across channels.
On the portfolio transformation agenda, we made progress toward high‑growth segments, with contribution increasing from 8.0% to 9.8%. The strategic divestments of the ice cream and tea businesses enabled a sharper focus on our Power Brands and categories with greater long‑term potential.
Our sixteen brands—including Pepsodent, Bango, Royco, Sunlight, and Rinso—delivered growth in 2025, contributing 75% of total sales and driving 9.1% Underlying Sales Growth (USG).
2. Channel: Strengthening Infrastructure and Seeding Future Growth
To capture opportunity across evolving shopper pathways, the Company invested in strengthening channel infrastructure to build better stores and more stores, supporting improved retail execution and category availability. The Company also expanded its presence in future‑growth channels, accelerating efforts in D‑Commerce and Health & Beauty, both of which continue to grow significantly and shape consumer purchasing behaviour. These actions positioned the business to win across both traditional trade and emerging digital ecosystems.
3. Cost: Relentless Focus on Efficiency and Simplicity
Throughout 2025, the Company maintained a disciplined focus on cost reduction, embedding productivity across the value chain. These efforts unlocked efficiencies that supported reinvestment into brand building, innovation, and strategic growth priorities—strengthening margins and ensuring a more resilient financial foundation.
2026: Looking Ahead
The company’s focus in 2026 remains firmly on driving growth ahead of the market, driven by volume. While growth in Q1 2026 is expected to be temporarily moderated by the earlier timing of Eid, this impact is purely seasonal and does not reflect underlying business momentum. Company remains confident in its trajectory, and in the structural improvements embedded throughout 2025.
“We started 2026 with confidence in the foundations we have built and a clear focus on delivering impact,” Benjie Added. “Our priority is to stay disciplined, keep elevating the performance of our brands, and continue strengthening the way we execute across every channel. What matters most is that we grow sustainably, responsibly and delivering real value for Indonesian families in 2026 and the years ahead.”