Nippon Indosari Corpindo Records IDR 79.8 Billion Profit in 1Q24, Growing 50.1% YoY

LISTED COMPANY - JAKARTA. PT Nippon Indosari Corpindo Tbk, the first and largest mass bread producer in Indonesia, known for its brands "Sari Roti" and "Sari Kue", has reported a remarkable Q1 2024 net profit of IDR 79.8 billion. This figure, attributable to the parent entity, represents a significant 50.1% increase compared to the same period last year.

The company's stellar Q1 2024 performance is a testament to its comprehensive efforts to boost productivity and implement operational efficiency strategies. This is reflected in the improved Gross Profit Margin and EBITDA Margin, which stand at 54.4% and 16.2% respectively.

Baca Juga: Nippon Indosari Corpindo (ROTI) Bukukan Laba Rp 333 Miliar pada 2023

Despite the majority of the fasting days falling in Q1 2024 compared to Q1 2023, the company still managed to record net sales of IDR 951.3 billion, equivalent to a 1.1% YoY growth. It is worth noting that the consumption of bread products tends to decrease during the Ramadan month and only picks up again after Eid al-Fitr, which this year fell in the second week of April.

This achievement is largely due to the contributions from the Western and Eastern regions, which recorded net sales of IDR 445.5 billion, marking an 8.0% YoY growth. The company's business development strategy, which includes increasing factory capacity and expanding distribution, particularly outside of Java, has successfully boosted sales contributions from these regions to 46.8%. Meanwhile, the Central region, centered in Java, remains the largest contributor with Q1 2024 net sales of IDR 505.8 billion.

Read Also: Nippon Indosari Corpindo (ROTI) Serap Capex Rp 107,7 Miliar Hingga Kuartal III-2023

Complete performance information and data are available in the Q1 2024 Financial Report, which can be downloaded from the company's website at www.sariroti.com.

"We remain optimistic about the potential growth in demand for bread and cakes in the future, especially after the recent Eid al-Fitr holiday. As people have resumed their activities, we expect this to drive sales in Q2 2024 and beyond," said Arlina Sofia, the company's director.