ID FOOD Aims For Revenue To Increase By 30 Percent To IDR 19.5 Trillion In 2024

Director of ID FOOD Frans Marganda Tambunan (Photo: Mery Handayani/VOI)

JAKARTA - Food SOE Holding, ID FOOD set an income target of IDR 19.5 trillion this year, an increase of around 30 percent compared to the realization in 2023. Meanwhile, the profit targeted was IDR 160 billion.

ID FOOD President Director Frans Marganda Tambunan said the growth target set this year was quite high. Even so, Frans is optimistic that this target can be achieved.

"Income of Rp. 19.5 trillion, increased. This year is approximately around Rp. 15 trillion. It has increased by almost 30 percent. So the growth is also quite high," he said after the ID FOOD 2nd Anniversary event, at Waskita Rajawali Tower, Jakarta, Monday, January 8.

Frans said the profit target set by the company also increased. Where this year the Food SOE Holding targets to earn a profit of IDR 160 billion.

Bottomline, this year our estimate is IDR 60 (billion) to IDR 160 billion. What you see is not small, but remember 2020 this company is still minus IDR 800 billion," he said.

To achieve this target, Frans said ID FOOD will focus on carrying out business transformation. Starting from finance, business models to company operations.

Ini enggak bisa (kerja) kalau tidak ada uang. Tidak ada konsep model bisnis, kita tidak tahu mau lakukan apa. Sementara punya konsep dan model bisnis tapi tidak bisa ekseskusi secara operasional kan sama saja tidak akan bisa berjalan. Jadi keuangan, model bisnis, dan operasional ini satu paket, tidak bisa terseparasi, tuturnya.

Frans said that from a financial perspective, the company is currently running an EBITDA transformation program. According to him, the impact of this transformation can be felt.

"The impact can be felt, the company's performance continues to grow with 112 percent increase in EBITDA and 228 percent increase in Operating Profit," he said.

Furthermore, Frans said that the improvement in the financial structure and cost leadership was another program that was also being boosted. He said that currently there was a 23 percent decrease in DER, making the company's financial posture healthier.

Efficient financial management focuses on increasing gross margins, by prioritizing cost control, this has an impact on Net Profit Margin growth of 2.3 percent," he explained.