Mayora, Producers Of Kopiko, Beng Beng, Torabika, Choki Choki etc. Owned By Conglomerate Jogi Hendra Atmadja Earns IDR 1.08 Trillion Profit In Third Quarter 2022

JAKARTA - The producer of Kopiko candy, Beng Beng, etc., owned by conglomerate Jogi Hendra Atmadja, PT Mayora Indah Tbk (MYOR) posted an increase in net profit until the end of September 2022. The company's bottom line performance was able to grow again after being corrected in the first semester of 2022.

In Mayora Indah's financial report, quoted on Friday, October 28, during January-September 2022, profit for the year attributable to owners of the parent entity increased 10.91 percent year on year (yoy), from IDR 977.93 billion last year to IDR 1.08 trillion.

Meanwhile, during the first semester of 2022, Mayora reported that its net profit was corrected by 30.34 percent yoy to IDR 668.53 billion, from the previous IDR 959.80 billion.

The increase in profit is inseparable from the growth in sales during January-September 2022. Mayora noted that sales during this period reached IDR 22.23 trillion, up 11.8 percent yoy compared to IDR 19.88 trillion in the same period the previous year.

Domestic sales before deducting returns rose 10.40 percent yoy to IDR 12.98 trillion, from the previous IDR 11.76 trillion. Meanwhile, export or offshore sales before reducing returns recorded an increase of 13.83 percent yoy to IDR 9.26 trillion, from the previous IDR 8.13 trillion.

In line with the increase in sales, Mayora's cost of goods sold rose 18.11 percent from IDR 17.48 trillion in January-September 2021 to IDR 14.80 trillion in January-September 2022. The increase was mainly due to an increase in the cost of raw materials and packaging used by 23, 04 percent yoy to IDR 14.45 trillion.

In the same period last year, the cost of raw materials and packaging was only IDR 11.74 trillion.

On September 30, 2022, Mayora's total assets rose 12.95 percent yoy to IDR 22.49 trillion, from the previous IDR 19.91 trillion. The increase in assets was in line with the increase in net cash flow used by Mayora for investment, from IDR 587.39 billion last year to IDR 890.13 billion.

The company's liabilities as of September 30, 2022, rose 23.37 percent to IDR 10.55 trillion, compared to the position of December 31, 2021, which was IDR 8.55 trillion. The increase was mainly due to an increase in short-term bank loans from IDR 795 billion in December 2021 to IDR 1.84 trillion as of September 2022.

Mayora's bonds payable also increased to IDR 1.82 trillion, from the previous IDR 1.03 trillion.