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CORPORATE ACTION - JAKARTA. PT Indofood Sukses Makmur Tbk (INDF, member of Kompas100 index) recorded a net profit or profit that could be distributed to the parent entity amounting to Rp 4.17 trillion last year. This net profit grew slightly 0.24% year on year (YoY) compared to the previous year of Rp. 4.16 trillion. Indofood's net profit margin was 5.7%, down slightly from 5.93% a year earlier.
The net profit was supported by the increase in Indofood's net sales on a consolidated basis by 4.6% YoY to Rp 73.39 trillion from Rp 70.19 trillion in the previous year.
Indofood's gross profit margin reached 27.54% last year, down from 28.17% in the previous year. The gross profit margin fell due to the increase in the cost of goods sold which was higher than revenue, which amounted to 5.49% to Rp 53.18 trillion.
Not only is the increase in cost, but Indofood also recorded an increase in sales expenses of 8.01% to Rp 7.8 trillion and distribution expenses and general and administrative expenses of 9.82% to Rp 4.47 trillion.
Indofood's financial burden also rose 35.57% to Rp 2.02 trillion. However, Indofood recorded another operating income of Rp 1.52 trillion. This figure is up 71.46% compared to the previous year amounting to Rp 888.86 billion.
Anthoni Salim, President Director of Indofood Sukses Makmur said, in 2018 it remains a challenge for Indofood with the condition of less supportive commodity prices. "With various challenges faced, Indofood continues to show positive growth," Anthoni said in a press statement on Friday (3/22).
Indofood's total assets rose 9.21% to Rp. 96.54 trillion. Indofood's equity rose to Rp.49.91 trillion from the previous year's Rp.47.10 trillion. The company's total liabilities in the consumer goods sector amounted to Rp 46.62 trillion, up from Rp 41.29 trillion in 2017.
Indofood's short-term bank debt reached Rp 17.13 trillion, surging from Rp 9.95 trillion previously. This increase comes from long-term bank debt that will soon be due in the next year while the debt of bonds that will mature in the next year is Rp 2 trillion.
