Mayora, Producer Of Kopiko, Beng Beng, Torabika, Choki Choki, Etc. Owned By Conglomerate Jogi Hendra Atmadja, Raised Sales Of IDR 7.58 Trillion In The First Quarter Of 2022

Mayora products. (Photo: Doc. Mayora Indah)

JAKARTA - The consumer and processed food company, PT Mayora Indah Tbk (MYOR) posted an increase in sales in the first quarter of 2022. However, the net profit of the company owned by the conglomerate Jogi Hendra Atmadja fell significantly in line with the swelling costs of raw materials and packaging.

In Mayora's financial report, quoted on Saturday, April 30, the Kopiko brand candy manufacturer posted net sales of IDR 7.58 trillion in the first quarter of 2022. This net sales rose 3.41 percent compared to the first quarter of 2021 of IDR 7.33 trillion.

During the January-March 2022 period, Mayora's sales were supported by the packaged processed food segment which reached Rp4.45 trillion before being eliminated. Sales of packaged processed foods rose 12.54 percent compared to the same period last year of Rp3.95 trillion.

On the other hand, sales in the packaged processed beverage segment actually decreased from Rp3.64 trillion in the first quarter of 2021 to Rp3.56 trillion in the first quarter of 2022.

Based on geographic segment, sales in the Indonesian market which accounted for 59.68 percent of total sales increased from Rp.4.35 trillion in the first quarter of 2021 to Rp.4.52 trillion in the first quarter of 2022. Sales in the Asian market also increased from Rp.2.81 trillion in the same period. January-March last year to Rp2.90 trillion this year.

Meanwhile, sales in other markets corrected 8.32 percent from Rp. 166.30 billion to Rp. 152.46 billion. At the same time, Mayora's cost of goods sold increased by 14.97 percent YoY, from IDR 5.16 trillion in the first quarter of 2021 to IDR 5.93 trillion in the first quarter of 2022.

This made the company's gross profit decreased by 24.02 percent from Rp2.17 trillion to Rp1.65 trillion. Mayora's operating profit also fell from Rp.996.13 billion in January-March 2021 to Rp.441.53 billion in the first 3 months of 2022.

This decrease was in line with the increase in operating expenses from Rp1.17 trillion to Rp1.21 trillion. Shipping expenses which increased from Rp139.97 billion to Rp219.03 billion were the cause of the increase in operating expenses.

Mayora recorded a profit for the year attributable to owners of the parent company of Rp306.0 billion. This net profit fell 62.81 percent YoY from the previous Rp822.87 billion.

As for the end of March 2022, MYOR recorded an increase in total assets to Rp22.07 trillion, from Rp19.91 trillion at the end of 2021. The company's total liabilities also increased from Rp8.55 trillion at the end of 2021, to Rp10.40 trillion at the end of March 2022.

Meanwhile, Mayora's total equity rose slightly to Rp11.67 trillion, from Rp11.36 trillion.