KFC Indonesia, Owned By Ricardo Gelael And Conglomerate Anthony Salim, Prepares Capital Expenditure Of IDR 300 Billion In 2022 To Add 25 Outlets

Illustration. (Photo: Doc. Antara)

JAKARTA - The manager of KFC fast food restaurants in the country, PT Fast Food Indonesia Tbk (FAST) hopes to rise in 2022. The company owned by the Ricardo Gelael family and conglomerate Anthony Salim is targeting to be able to return to pocket profits next year and start preparing strategies, one of which is by budgeting capital expenditures of up to IDR 300 billion.

As is known, KFC's performance was "beaten" by the COVID-19 pandemic because restrictions on community activities made their performance contract during the last 2 years. Director of Fast Food Indonesia Wachjudi Martono explained that the strategy in 2022 was prepared to encourage the company's performance to recover as before the COVID-19 pandemic.

"We are preparing capital expenditures in the range of IDR 200 billion to IDR 300 billion for 2022. Among these funds are to finance the expansion of adding 25 new restaurant outlets," he explained in a public expose, last Thursday, December 9.

The company targets to add 20 new KFC outlets that focus on the brand store concept, while the rest open 5 Taco Bell outlets.

"If there are no effects from the pandemics of previous years, and there are no challenges that are not taken into account in the business model, we believe that 2022 will be our year of recovery," said Wachjudi.

The company believes that sales will grow by 5-7 percent until the end of 2021 with a projection of IDR 5.1 trillion. And if it goes according to plan, sales growth is targeted to increase by 24.1 percent to IDR 6.33 trillion in 2022.

Until the third quarter of 2021, FAST sales decreased to IDR 3.45 trillion from IDR 3.58 trillion in the first nine months of 2020. However, the net loss position as of September 2021 shrank from IDR 298.34 billion to IDR 201.38 billion.

As of the end of September 2021, FAST operates 736 KFC and Taco Bell outlets. This number is reduced by 7 units of outlets from the position at the end of 2020.