Aldira Sunrise 4 November 2024

Economy: Indonesia recorded 0.08% inflation in Oct 24
Indonesia recorded inflation of 0.08% mom and 1.71% yoy on Oct 24, ending a five-month
streak of deflation. The consumer price index (CPI) rose to 106.01 on Oct 24 from 105.93 on
Sep 24. The expenditure group that contributed the most to monthly inflation was personal
care and other services with inflation of 0.94% and contributing 0,06% to inflation.
Meanwhile, the dominant commodity that drives inflation in this group is gold jewelry, which
contributed 0.06% to inflation. (Bisnis Indonesia)
CLEO’s net profit was up 61% in 9M24
Sariguna Primatirta (CLEO) achieved a net profit of IDR 336.49B in 9M24, representing a 61%
yoy increase. This surge in profit was driven by sales growth that outpaced the rise in the
cost of goods sold. Total sales reached IDR 1.98T, a 32% yoy increase from IDR 1.50T in 9M23.
The bottled water segment contributed IDR 1.08T, accounting for 54% of total revenue, while
non-bottled water sales amounted to IDR 861.98B (44%), and other products generated IDR
34.99B (2%). CLEO continues to expand its marketing network and production facilities,
currently operating 31 factories across Indonesia to reduce transportation and distribution
costs. The company has invested IDR 514B in capital expenditures up to Sep 24 for new
factory construction and distribution network expansion. (EmitenNews)
CPIN’s net profit increased 11.1% yoy
Charoen Pokphand Indonesia (CPIN), a leading agribusiness company, reported a net profit
of IDR 2.39T for 9M24, marking an 11.1% decrease from the same period in the previous year.
This decline is attributed to increased production costs and fluctuating commodity prices,
which have impacted the company’s profitability. Despite the drop in net profit, CPIN’s
revenue showed resilience, indicating stable demand for its products. The company
continues to focus on operational efficiency and cost management to navigate the
challenging market conditions. Investors should monitor CPIN’s strategies to mitigate cost
pressures and maintain market share in the competitive agribusiness sector. The company’s
performance reflects broader industry trends, emphasizing the need for adaptability in
response to economic fluctuations. (EmitenNews)
KLBF recorded IDR 2.4T net profit in 9M24
Kalbe Farma (KLBF) reported a net profit of IDR 2.4T in 9M24, a 15.2% yoy increase from IDR
2.06T in 9M23. Earnings per share rose to IDR 51.34 from IDR 44.39. Net sales reached IDR
24.23T, up 7.4% yoy from IDR 22.56T in 9M23. The cost of goods sold increased to IDR 14.72T
from IDR 13.65T, resulting in a gross profit of IDR 9.51T, up from IDR 8.9T. The gross profit
margin remained stable at 39.3%, reflecting a balanced product and business mix. KLBF’s
prescription drugs division saw a 10.4% yoy sales increase, driven by generic drugs and
specialty medications. The company continues to innovate in biological drugs and oncology
ecosystems, supporting Indonesia’s National Health Insurance program. The health products
division experienced a 4.0% yoy sales increase, while the nutrition division’s sales grew by
0.2% yoy, focusing on ready-to-drink products and affordable options. The distribution and
logistics division reported a 12.8% yoy sales increase, attributed to growth in external
principal contributions. (EmitenNews)
PGAS reported a 33% yoy growth in net profit
Bumi Serpong Damai (BSDE) reported a substantial 92.64% yoy increase in net profit to IDR
1.77T for 3Q24. Revenue grew 2.28% YoY to IDR 7.31T, with the property sales segment
contributing the largest portion at IDR 6.03T, an 8.15% yoy increase. Property sales, which
include land, buildings, and strata title units, account for 82.57% of total revenue, reflecting
robust demand. This performance underscores BSDE’s effective strategy in capitalizing on
post-pandemic property market recovery. Cost control measures further bolstered
profitability, positioning BSDE as a strong candidate for continued growth in Indonesia’s
property sector. (Kontan)
TBIG recorded IDR 1.16T net profit in 9M24
Tower Bersama Infrastructure (TBIG) posted a net profit of IDR 1.16T (+4.38% yoy). This was in
line with revenue, which increased 3.51% yoy to IDR 5.12T. TBIG had 42,546 rentals and 23,681
telecommunications sites by the end of Sep 24. TBIG’s telecommunications sites consist of
23,565 telecommunications towers and 116 DAS networks. With a total rental figure for
telecommunications towers of 42,430, TBIG’s tenancy ratio is 1.80x. (Bisnis Indonesia)