Indofood, A Company Owned By Conglomerate Anthony Salim, Will Generate Revenue Of IDR 81.73 Trillion In 2020

Conglomerate Anthony Salim. (Photo: Doc. Wall Street Journal)

JAKARTA - PT. Indofood Sukses Makmur Tbk announced its annual financial performance for the year ended December 31, 2020. This company coded INDF shares posted sales of IDR 81.73 trillion, up 7 percent compared to the previous year which was valued at IDR 76.59 trillion.

Indofood President Director and Chief Executive Officer, Anthony Salim said, in dynamic operational conditions during 2020, Indofood was able to record consistent performance.

"This is supported by the resilience and toughness of a vertically integrated business model and brands that are known to consumers," said Anthony in his written statement, Tuesday, March 23.

Meanwhile, along with Indofood's sales, the company's operating profit increased 31 percent to IDR 12.89 trillion from IDR 9.83 trillion with an operating profit margin of 15.8 percent.

This raised the profit for the year attributable to the owners of the parent entity to increase by 32 percent to IDR 6.46 trillion from IDR 4.91 trillion, and the net profit margin to increase to 7.9 percent from 6.4%.

"Going forward, we will remain vigilant in maintaining the health of our employees, strengthening the vertical integration of our business model, improving the performance that has been achieved, and developing our capabilities in facing new opportunities and challenges," explained Anthony.

PT. Indofood Sukses Makmur Tbk (INDF) is engaged in processed food, spices, beverages, packaging, cooking oil, wheat factories, and flour sack manufacturing plants. The company owned by the 4th richest person in Indonesia started commercial operations in 1990.

In the processed food business, INDF has the Indofood CBP Sukses Makmur entity which has popular types of food such as Indomie, Supermie, Chitato, and others. INDF also owns Bogasari, a company that produces flour and pasta.

In the agribusiness sector, INDF conducts research and development, seed breeding, cultivation, and processing of oil palm to the production and marketing of cooking oil, margarine, and shortening products. A well-known product is Bimoli, a cooking oil that is very often found on the market.