Overall Performance H1 2024
- Net Sales of IDR 19.0 trillion resulting in Net Profits of IDR 2.5 trillion.
- Domestic revenue growth of 4.1% compared to H2 2023 while declining 5.7% year-on-year mainly due to negative Underlying Price Growth (UPG).
- Gross Margins increased by 17 basis points vs H2 2023 to 49.7%, but lower by 14 basis points year-on-year.
- Advertising expenses rose by 157 basis points from 7.6% in H1 2023 to 9.1% in H1 2024.
- Profit Before Tax (PBT) Margins expanded by 229 basis points vs H2 2023 to 16.6% but declined 97 basis points year-on-year as a result of higher investment in advertising.
- Gradually rebuilding market share since Dec 2023.
A statement from President Director, Benjie Yap
During the first half of the year, we are addressing several near-term challenges, while continuing to make progress in areas critical to the Company’s future.
We remain steadfast in gradually rebuilding our business by strengthening the fundamentals, prioritizing the competitiveness of our brands and driving cost efficiency to increase profitability. In parallel, our transformation programs are driving focus and growth through a leaner and more accountable organization.
Our Strength and Potential
- Innovations backed by science - Our company is driven by innovation, supported by scientific research and technology. With operations in 190 countries, we have Research and Development (R&D) centers across the globe, with over 5,000 experts working in 60 countries. This global reach allows us to accelerate innovation and deliver high-quality products tailored to local preferences.
- Commitment on Sustainability - We are committed to making a positive impact by not only offering quality products but also by actively contributing to the planet and society.
- Global talents with agile capabilities - We embrace digital transformation and empowering our employees with continuous learning opportunities.
Looking Forward
We have been operating in Indonesia for over 90 years. Our long-term vision remains intact throughout volatile conditions, competitions, and evolving consumer needs. We believe that with our experience, future potential and talent, we will rebound, continuously grow, and drive forward alongside Indonesia.