ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronEye IconIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailPositive ArrowIcon PrintTitle ChevronIcon Twitter
Consumer Non-Durables

PT Indofood Sukses Makmur Tbk

Company Background

Indofood Sukses Makmur is the core unit of Salim Group, one of Southeast Asia's biggest family-run businesses. Anthoni Salim, the son of the ethnic Chinese conglomerate's founder Sudono, has been its president since 2004. Salim Group's Hong Kong investment arm First Pacific, which is also led by Anthoni, owns 50% of Indofood's shares.

Indofood is one of the few companies that Salim Group did not let go during the Asian financial crisis, which led to former Indonesian President Suharto's overthrow in 1998. The company recovered through public funded bailouts and Salim's investment vehicles, and has been diversifying in recent years. In 2010, Indofood floated shares of its consumer products division, which includes its core instant noodle business.

In 2013, Indofood expanded its overseas presence. Acquisitions included sugar producers in Brazil and the Philippines as well as Singapore-listed vegetable processor China Minzhong Food. Activity has slowed in 2014, but a return to focus on the domestic markets may be in the cards. Salim claims that global expansion will help bring technology and know-how to Indonesia.

Business Summary

PT Indofood Sukses Makmur Tbk engages in the food manufacturing and processing business. It operates through the following segments: Consumer Branded Product, Bogasari, Agribusiness, and Distribution. The Branded Products segment focuses on the production of a range of consumer branded products, which include noodles, dairy, snack foods, food seasonings, nutrition and special foods, and beverages. The Bogasari segment involves the production of wheat flour and pasta. The Agribusiness segment covers the research and development, seed breeding, oil palm cultivation and milling, and production and marketing of branded cooking oils, margarine, and shortening. The Distribution segment focuses on the distribution of the company and third-party products. The company was founded on August 14, 1990 and is headquartered in Jakarta, Indonesia.

Financial Highlights

Dec 2019 IDRUSD
Revenue76,592.95B5,416.14M
Gross Profit22,178.47B1,568.31M
Operating income9,621.78B680.38M
Income before tax8,749.39B618.69M
Net income4,908.17B347.07M
EBITDA12,769.31B902.96M
Diluted EPS558.990.03
Dividends Per Share2780.01
Total Assets96,198.55B6,929.48M
Total liabilities41,996.07B3,025.10M
Total equity37,777.94B2,721.26M
Operating cash flow13,344.49B943.63M
Currency in IDRCurrency in USD

Historical Data

 Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019
Revenue 64,061.94B 66,659.48B 70,186.61B 73,394.72B 76,592.95B
Gross Profit 16,830.40B 18,846.55B 19,259.92B 19,671.53B 22,178.47B
Operating income 6,743.77B 8,293.60B 8,505.63B 7,982.92B 9,621.78B
Income before tax 4,962.08B 7,385.22B 7,594.82B 7,446.96B 8,749.39B
Net income 2,571.96B 3,801.09B 4,156.22B 4,166.10B 4,908.17B
EBITDA 9,056.90B 10,877.57B 11,160.14B 10,922.26B 12,769.31B
Diluted EPS 338 472 473.35 474.47 558.99
Dividends Per Share 168 235 237 236 278
Total Assets 91,831.52B 82,174.51B 88,400.87B 96,537.79B 96,198.55B
Total liabilities 48,709.93B 38,233.09B 41,298.11B 46,620.99B 41,996.07B
Total equity 27,269.35B 28,974.28B 31,302.52B 33,614.28B 37,777.94B
Operating cash flow 4,559.43B 7,175.60B 6,507.80B 5,935.82B 13,344.49B
 Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019
Revenue 4,781.72M 5,011.83M 5,244.93M 5,155.28M 5,416.14M
Gross Profit 1,256.25M 1,416.99M 1,439.26M 1,381.73M 1,568.31M
Operating income 503.37M 623.55M 635.61M 560.72M 680.38M
Income before tax 370.38M 555.26M 567.54M 523.07M 618.69M
Net income 191.97M 285.78M 310.58M 292.62M 347.07M
EBITDA 676.02M 817.83M 833.97M 767.18M 902.96M
Diluted EPS 0.02 0.03 0.03 0.03 0.03
Dividends Per Share 0.01 0.01 0.01 0.01 0.01
Total Assets 6,661.69M 6,099.42M 6,515.63M 6,713.33M 6,929.48M
Total liabilities 3,533.54M 2,837.86M 3,043.89M 3,242.07M 3,025.10M
Total equity 1,978.19M 2,150.62M 2,307.16M 2,337.57M 2,721.26M
Operating cash flow 340.32M 539.50M 486.31M 416.93M 943.63M

Valuation Measures

Dec 2019
PER14.17
ROA5.09%
ROE13.74%
Operating margin12.56%
Profit margin6.40%

Key executives

  • President Director: Anthoni Salim
  • Head-Information Technology: Hantoro Tanoto
  • Director: Axton Salim
  • Director: Taufik Wiraatmadja
  • Director: Moleonoto Tjang

Shareholders

  • First Pacific Co. Ltd. (50.0%)
  • The Vanguard Group, Inc. (1.7%)
  • Dimensional Fund Advisors LP (1.2%)
  • BlackRock Fund Advisors (0.9%)
  • FIL Investment Management (Singapore) Ltd. (0.4%)
  • The Caisse de depot et placement du Quebec (0.3%)
  • BlackRock Advisors (UK) Ltd. (0.2%)
  • Oldfield Partners LLP (0.2%)
  • PT Batavia Prosperindo Aset Manajemen (0.2%)
  • PT Indo Premier Securities (Investment Management) (0.2%)

Contact Details

  • Website:http://www.indofood.com
  • Address: Sudirman Plaza, Indofood Tower, 27th Floor, Jalan Jenderal Sudirman, Jakarta, 12910, Indonesia
  • Phone: +62.21.5795.8822

Related Companies

  • PT Citra Kalbar Sarana
  • Sari Indah Pte Ltd.
  • PT Prima Intipangan Sejati
  • Ocean 21 Pte Ltd.
  • PT Indomarco Adi Prima
  • PT Indofood Fritolay Makmur
  • PT Indofood CBP Sukses Makmur Tbk
  • PT Indosentra Pelangi
  • PT Indolakto
  • Drayton Pte Ltd.
  • Pacsari Pte Ltd.
  • Indofood Agri Resources Ltd.
  • Indofood Singapore Holdings Pte. Ltd.
  • PT Bogasari Flour Mills
  • Indofood International Finance Ltd.
  • PT Surya Rengo Containers

Competitors

  • Del Monte Pacific Limited
Last Updated on 24 Nov, 2020

You have {{numberArticlesLeft}} free article{{numberArticlesLeft-plural}} left this monthThis is your last free article this month

Stay ahead with our exclusives on Asia;
the most dynamic market in the world.

Stay ahead with our exclusives on Asia

Get trusted insights from experts within Asia itself.

Get trusted insights from experts
within Asia itself.

Try 1 month for $0.99

You have {{numberArticlesLeft}} free article{{numberArticlesLeft-plural}} left this month

This is your last free article this month

Stay ahead with our exclusives on Asia; the most
dynamic market in the world
.

Get trusted insights from experts
within Asia itself.

Try 3 months for $9

Offer ends October 31st

Your trial period has expired

You need a subscription to...

  • Read all stories with unlimited access
  • Use our mobile and tablet apps
See all offers and subscribe

Your full access to Nikkei Asia has expired

You need a subscription to:

  • Read all stories with unlimited access
  • Use our mobile and tablet apps
See all offers
NAR on print phone, device, and tablet media

Nikkei Asian Review, now known as Nikkei Asia, will be the voice of the Asian Century.

Celebrate our next chapter
Free access for everyone - Sep. 30

Find out more