• Economy: GDP growth slowed to 4.87% yoy in 1Q25
Indonesia’s economic growth slowed to 4.87% yoy in 1Q25, down from 5.11% in 1Q24 and 5.02%
in 4Q24, as all major expenditure components weakened, with government spending even
contracting. Household consumption, which remains the largest contributor to GDP at
54.53%, grew 4.89% but slower than in previous quarters, partly due to the absence of an
election-related spending boost this year. Export growth, although still robust at 6.78% yoy,
moderated due to a sharp decline in services exports, while gross fixed capital formation
(PMTB) rose only 2.12% amid global uncertainty and seasonal patterns. Government
consumption shrank by 1.38% following high spending in the election year of 2024, and nonprofit
institution consumption also decelerated to 3.07%. Meanwhile, imports grew 3.96% yoy,
contributing negatively to overall growth due to a significant drop in monthly figures,
reflecting weaker domestic demand. (Bisnis Indonesia)
• ARKO posted 38.1% net profit growth in 1Q25
Arkora Hydro (ARKO) reported 1Q25 revenue of IDR 71.1B, up 54.8% Yoy, supported by a 62.9%
increase in electricity production to 39.2 GWh, mainly from the Yaentu project. Net profit rose
38.1% to IDR 21.1B with a 29.7% net margin. Total assets grew 20.5% to IDR 1.46T, while cash
and liabilities increased 35.4% and 30.1%, respectively. ARKO continues progress on Kukusan
II and Tomoni projects, supporting its Net Zero 2060 commitment. (Kontan)
• BNBR booked 17% net profit growth in 1Q25
Bakrie & Brothers (BNBR) reported an 11.64% increase in revenue to IDR 953.80B in 1Q25,
supported by subsidiaries including Bakrie Metal Industries, VKTR Teknologi Mobilitas, and
Bakrie Indo Infrastructure. Operating profit rose 15.72% to IDR 65.25B, while net profit
attributable to the parent entity increased 17% to IDR 62.02B. Performance was further
supported by reduced interest expenses following debt restructuring in 2024. (IDX Channel)
• BRPT posted 77.8% net profit growth in 1Q25
Barito Pacific (BRPT) reported a 25% Yoy increase in revenue to US$774M in 1Q25, driven by
31.8% growth in petrochemical revenue and 3.4% in energy. Pre-tax profit surged 114% Yoy to
US$30M, while net profit attributable to the parent rose 77.8% to US$16M. BRPT maintained
a 0.73 net debt-to-equity ratio and completed the acquisition of Shell’s Singapore chemical
park, now Aster Chemicals and Energy (ACE), strengthening regional presence. (Kontan)
• CPIN’s net profit rose 116.16% yoy in 1Q25
Charoen Pokphand Indonesia (CPIN) delivered robust financial results in 1Q25, with net profit
surging 116.16% yoy to IDR 1.53T. Revenue grew 11.26% to IDR 17.7T, supported by strong
segment performance: broiler sales (IDR 8.85T), animal feed (IDR 4.78T), processed chicken
(IDR 3.02T), and day-old chicks (IDR 729B). Gross profit jumped to IDR 3.13T from IDR 2.12T.
CPIN’s total assets climbed to IDR 43.76T, while liabilities fell to IDR 11.93T and equity
expanded to IDR 31.82T. (Kontan)
• DAAZ booked 46.62% net profit growth in 1Q25
Daaz Bara Lestari (DAAZ) posted a 58.63% revenue increase to IDR 3.08T in 1Q25, supported
by higher sales volume and value across nickel, coal, fuel, maritime transportation, and
mining services. Net profit surged 46.62% to IDR 133.83B, and EBITDA rose 54.06% to IDR
244.39B. Equity grew 6.47% to IDR 2.21T. The results reflect strong demand and improved
operational execution. (Emiten News)
HRTA posted 45.82% net profit growth in 1Q25
Hartadinata Abadi (HRTA) posted a strong financial performance in 1Q25, with net profit
rising 45.82% Yoy to IDR 149.75B. Revenue grew 18.77% Yoy to IDR 6.79T, driven by a rise in
gold sales volume to 4.47 tons and a 41.19% increase in average selling price to IDR 1.50M per
gram. Wholesalers contributed 81.69% to total revenue, up from 73.75% in Q1 2024. Total
assets reached IDR 6.39T, while equity and liabilities stood at IDR 2.49T and IDR 1.15T
respectively. (Bisnis Indonesia)
• JPFA booked IDR 680.41B net profit in 1Q25
Japfa Comfeed Indonesia (JPFA) reported strong financial performance in 1Q25, with net
profit rising 2.34% yoy to IDR 680.41B. Revenue also grew by 2.92% to IDR 14.33T, driven by
contributions from various segments including commercial farming (IDR 5.57T), animal feed
(IDR 3.87T), and processed products (IDR 2.55T). Gross profit rose to IDR 2.69T despite a slight
increase in cost of goods sold. Total assets reached IDR 35.55T, while liabilities and equity
stood at IDR 18.26T and IDR 17.28T respectively, marking improvements from the end of 2024.
(Kontan)
