AGII Net Profit Falls 36.6% in 2024 Amid Rising Costs
Samator Indo Gas (AGII) posted a net profit of IDR 104.94B in 2024, down 36.55% from the
previous year, largely due to rising operational and financing costs, despite a slight 2.83%
increase in revenue to IDR 2.9T. The company faced a surge in cost of sales and higher selling,
general, and administrative expenses, which caused gross profit to decline to IDR 1.27T and
operating profit to drop to IDR 406.16B. Additionally, increased financial expenses—up to IDR
314.17B—significantly pressured bottom-line performance, even as financial income
improved. As a result, pre-tax profit fell to IDR 115.05B and net income slid to IDR 110.19B. On
the balance sheet, however, AGII maintained growth momentum, with total assets rising to
IDR 8T, supported by increases in both equity and liabilities. (Emiten News)
ARGO Reports IDR 2.37T Deficit in 1Q25
Argo Pantes (ARGO) recorded a net loss of IDR 9.44B as of March 31, 2025, a staggering
908.51% increase from its IDR 949.15M deficit in the same period last year. The loss per share
widened to IDR 2.98, up from IDR 0.30. Despite the growing deficit, revenue surged 24% to
IDR 30.42B, while gross profit doubled to IDR 14.39B from IDR 7.67B. However, higher
expenses—including foreign exchange losses of IDR 17.57B and financing costs—pushed pretax
losses to IDR 9.73B, up from IDR 949.15M. ARGO’s total equity declined to IDR 112.43B,
while liabilities increased to IDR 1.02T, reflecting growing financial pressure. (Emiten News)
CBUT to Allocate IDR 150B in Capex FY25
Citra Borneo Utama (CBUT) has allocated IDR 150B in capital expenditure for 2025—an
increase from IDR 80B in the previous year—primarily to complete ongoing projects and
expand its bottled cooking oil production. The funding will come from IPO proceeds, internal
cash, and bank financing. CBUT aims to achieve IDR 13T in revenue this year, supported by
strong Q1 performance with revenue rising 41.7% yoy to IDR 3.4T. The company is pursuing
aggressive market expansion by launching commercial cooking oil products and partnering
with credible suppliers and buyers, both local and international. Operationally, CBUT is
optimizing its Kernel Crushing Plants (KCP) to improve core product margins and is
enhancing factory efficiency with innovations and new bottling lines. The firm also
emphasizes product quality by securing competitively priced, high-quality CPO and PKO and
maintaining RSPO-certified palm oil production. (IDX Channel)
GOTO Seeks Approval for IDR 3.3T Share Buyback
GoTo Gojek Tokopedia (GOTO) plans to conduct another share buyback, seeking shareholder
approval for a IDR 3.3T buyback fund (equivalent to US$200M). The buyback, funded entirely
from internal cash reserves, will take place within 12 months after the General Meeting of
Shareholders (RUPS) on June 18, 2025. GOTO stated that the number of shares repurchased
will not exceed 10% of its issued and paid-up capital, including 27.79B treasury shares (2.33%
of total capital). The company aims to improve capital structure flexibility and support future
initiatives through this move. Previously, GOTO had spent IDR 1.6T (US$99M) on buybacks by
the end of March 2025, repurchasing 25.9B shares. Despite the buyback, management
assures no material negative impact on revenue due to sufficient working capital and
liquidity to support the plan. (Bisnis indonesia)
INCI to Distribute IDR 7.3B Dividend
Intanwijaya Internasional (INCI) plans to distribute IDR 7.3B in dividends, equivalent to IDR
35 per share, from its 2024 fiscal year profit. This dividend amount is unchanged from 2023.
The decision, proposed by the Board of Directors and approved by the Board of
Commissioners, will be finalized at the General Meeting of Shareholders (RUPS) on June 19, 2025. INCI recorded a net profit of IDR 25.8B in 2024, with a dividend payout ratio of 28.3%,
while IDR 18.5B will be retained as undistributed earnings. As of December 31, 2024, INCI’s
retained earnings reached IDR 192B, with total equity of IDR 458B. At the last trading session,
INCI’s stock closed at IDR 605, translating to a dividend yield of 5.8%. (IDX channel)
ITMG Posts Solid 1Q25 Profit Growth Despite Slight Revenue Dip
Indo Tambangraya Megah (ITMG) booked a net profit of USD 64.96M in 1Q25, up 5.45% from
the same period last year, with earnings per share rising to USD 0.06 from USD 0.05. Revenue
slightly declined by 1.37% to USD 482.51M, but gross profit improved to USD 135.16M due to a
lower cost of revenue. Operating and finance expenses increased, including higher selling,
administrative, and interest costs, while finance income rose modestly. Profit before tax
reached USD 85.67M, and net income climbed to USD 66.42M, reflecting stronger operational
efficiency. On the balance sheet, total assets stood at USD 2.45B, with equity rising to USD
1.99B and liabilities decreasing to USD 457.88M, signaling improved financial stability.
(Emiten News)
RALS to Distribute 113.3% of FY24 Net Profit as Dividend
Ramayana Lestari Sentosa (RALS) has officially approved a cash dividend distribution of IDR
60 per share for the 2024 fiscal year, as announced during AGMS on 9 May 25. The total
dividend amounts to IDR 355.8B, representing 113.3% of the company’s 2024 net profit of IDR
314.1B, with the remaining IDR 41.7B sourced from retained earnings of IDR 4.089T as of Mar 2025. This dividend offers an attractive yield of 13.3% based on the intraday share price of IDR
452 on the announcement date. The cum and ex-dividend dates have not yet been disclosed.
(Emiten News)
PALM Plans 1.57B Share Private Placement
Provident Investasi Bersama (PALM) is set to conduct a private placement of up to 1.57B new
shares, representing 10% of its issued and paid-up capital as of May 9, 2025. The nominal share
value is IDR 15 per share, with the execution price to be determined later, adhering to IDX
rules requiring at least 90% of the average closing price over the past 25 trading days. Funds
from the private placement will be used to strengthen capital structure, finance working
capital, and expand investment portfolios, particularly in natural resources, technology,
media, telecommunications, and logistics. The funds may also support subsidiary operations,
including debt repayments and business expansion. If fully absorbed, PALM’s shareholder
composition will shift, with Provident Capital Indonesia’s stake reduced from 58.02% to
52.74%, while public ownership drops to 7.77% and new investors gain 9.09%. Shareholder
approval will be sought at the General Meeting (RUPS) on June 18, 2025, with the official
summary published on June 20, 2025. (Bisnis indonesia)
PTPP to Divest 2 BUMN Karya Assets Worth IDR 3T
PT PP (PTPP) plans to divest state-owned infrastructure assets worth IDR 3T by the end of
2025, including PT PP Infrastruktur (focused on water supply systems) and Celebes Railways
Indonesia (railway infrastructure subsidiary). According to Corporate Strategy and HCM
Director I Gede Upeksa Negara, three potential investors—two local and one foreign—are
undergoing due diligence, with offers expected by May and sales targeted for completion by
June. The move aims to streamline operations and reduce debt by shedding non-core
businesses. Financially, PTPP’s 1Q25 revenue declined 23.94% yoy to IDR 3.51T, mainly due to
a slump in construction revenue. Despite this, net profit rose 54.43% yoy to IDR 72.07B,
though profit attributable to the parent dropped 37.23% to IDR 59.39B, lowering EPS from
IDR 15 to IDR 10. Cash reserves fell 23.21% to IDR 3.03T, while total assets and liabilities dipped
slightly, and equity inched up to IDR 15.34T. (Bisnis Indonesia)
SIDO Reports Sharp Profit Decline as Revenue Falls 26%
Sido Muncul (SIDO) reported a net profit of IDR 232.94B in 1Q25, marking a sharp 40% decline
from IDR 390.49B in the same period last year, with earnings per share falling to IDR 7.77
from IDR 13.02. Revenue dropped 25.71% to IDR 789.1B, leading to a contraction in gross profit
to IDR 412.44B. While selling and marketing expenses slightly decreased, administrative
costs rose, and both other income and operating profit declined significantly to IDR 286.08B.
Financial income also dipped, though finance costs were lower. Pre-tax profit fell to IDR
296.26B, and net income followed suit. Despite weaker earnings, the company’s financial
position strengthened, with assets increasing to IDR 4.09T, equity rising to IDR 3.7T, and
liabilities decreasing to IDR 388.06B. (Emiten News)
