Excise Sweet Drinks Applicable Next Year, SIDO Opens Voice

JAKARTA - PT Industri Jamu and Pharmacy Sido Muncul Tbk (SIDO) has opened its voice regarding the implementation of the national beverage excise which will be enforced starting next year. Just so you know, the Directorate General of Customs and Excise at the Ministry of Finance (Kemenkeu) will impose packaged packaged packaged drink excise (MBDK) next year.

SIDO's Finance Director, Budiyanto, said that until now his party had not seen in detail the regulations that would take effect next year. However, he ensured that this rule had no major impact on the company's finances.

Budi said that the contribution of sweetened and ready-to-eat drinks produced by SIDO only contributed 1 to 2 percent to the company's sales.

"Currently, SIDO's ready to drink format is still small in contribution to sales, only about 1-2 percent of sales," he said in a public expose, Wednesday, August 28.

For this reason, he ensures that the impact of excise on this sweet drink will not have a major impact on the company's financial performance.

However, he ensured that his party would comply with the regulations issued by the government and would issue products with low sugar content for consumer health.

"So we will follow what existing regulations are, and also if possible we will launch new products with lower sugar variants to ensure health and follow existing regulations," he continued.

Budi further added that every year SIDO always launches around 2 to 3 new products that are tailored to consumer needs and based on scientific innovation.

"For this year we have launched 4 new products. If we add new factories in the second semester or 2025, we don't have any plans in the near future to add new factories because the capacity of our factories is still very sufficient," he concluded.

In terms of sales, SIDO recorded sales for 6 months in 2024 which increased by 14.7 percent to Rp1.9 trillion from Rp1.7 trillion in the same period in 2023.

In line with sales growth, SIDO's net profit increased 36 percent to Rp608 billion. Net margin also recorded an increase to 32 percent from 27 percent in the previous year.