Overall Performance
- Net sales reached IDR 9.5 trillion, with net profit of IDR 1.2 trillion.
- Domestic sales improving by 21.6% from Q4 2024; a decline of 6.6% year-on-year.
- Net profit rose 244.7% versus Q4 2024, a decrease of 14.6% year-on-year.
- Gross Margin improved by 365 basis points from Q4 2024, decreased by 177 basis points compared to last year, reaching 48.2%.
- Advertising and promotion spend rose to 9.2% of total net sales in Q1 2025, supporting brand strength and consumer engagement.
Statement from President Director, Benjie Yap
“Our first-quarter results, while lower year-on year, demonstrate quarter-on-quarter improvement in both growth and profitability. This performance reflects the impact of targeted initiatives and decisive actions taken to address operational challenges. We have made progress in lowering customer stock, bringing channel price stability, improving profitability of our distributor partners; an delivering strong customer service levels. This progress give the right foundation to drive growth going forward.”
Our Progress
Building Stronger Brands and Portfolios
- Get more from the Core – The company continues to drive category growth by building stronger brands and portfolios. In Q1, we relaunched our major brands such as Clear, Sunlight and Royco with renewed 6P strategy, focused on: Product—delivering superior benefits; Price—implementing competitive pricing; Place—ensuring broad product availability; Promotion—executing high impact campaigns; Prepositions—sharpening brand positioning; Pack—improving product presentation.
- Reaching up and reaching down – To expand our portfolio across segments, we introduced several innovations. In the value segment, to further establish our leadership, we launched Rinso and Glow & Lovely DermaGlow Multivitamin Cream. Rinso introduced a new pack size priced at IDR 500, and Glow & Lovely DermaGlow Multivitamin Cream is now available in a smaller pack size with advanced skin-brightening technology, claiming 40x improved efficacy. In the premium segment, new launches include Dove Pro-Ceramide Serum Body Wash, Lux Peaceful Galaxy and Close up White Now.
- Optimising Key Momentum – We maximised festive opportunity to gain more users and increase usage. Our iconic food brand Bango capitalised on the Festive Top Dish "Semur" through strong offline execution, including in-store visibility, community engagement, and the Food Truck Jajanan Bango roadshow.
Go To Market Transformation
We have made improvements across all key initiatives, successfully expanding our reach and increasing coverage while optimizing the quality of our direct coverage. This ensures that we can reach more retailers and make our products readily available to consumers throughout Indonesia. Our Distributive Trade Digital Transformation is also progressing as planned. We are leveraging technology to enhance our distribution network, improve efficiency, and gain better visibility into our operations. Following the Q3 2024 launch of the revamped sales application Sahabat Warung, the contribution of sales through Sahabat Warung has increased significantly, with a 22% increase in contribution to overall Distributive Trade sales.
Looking Forward
Moving forward, we remain committed to executing our reset strategy to lay stronger foundations for sustainable growth. Our key priority for 2025 is to elevate our core brands to become unmissably superior—supported by continued brand investment, increased digital spends, broader distribution through more and better stores, and disciplined in-market execution. We will continue to maintain focus on our cost reset programme to protect gross margins. We believe these efforts will provide us with a stronger foundation for growth that is consistent, competitive, profitable, and responsible. This transformation will take time, we expect to see tangible benefits emerging in the second half of the year.