JAKARTA - PT Fore Kopi Indonesia Tbk (FORE) targets net profit growth of 70 percent to 80 percent by 2025.
"For 2025, we will expect around 70 percent-80 percent of our profit growth and around 40 percent-50 percent of its own income," said the President Director of PT Fore Kopi Indonesia Tbk, Vico Lomar, in a public expose, Thursday, June 26.
Vico explained that in achieving this target, the company has prepared capital expenditure (capex) of IDR 222 billion to IDR 225 billion to expand business.
He added that up to 80 percent of the funds were focused on expanding Fore Coffee and Fore Donut outlets. However, for now, the top priority remains in the expansion of Fore Coffee outlets throughout Indonesia.
Fore targets as many as 70 new outlets to be built throughout 2025 and currently around 30 outlets have been built.
"So what we continue to do is increase the number of our outlets, especially in tier 2 and tier 3. Then we also continue to issue new products, real products every 3 months we try to launch 2-3 new products and be accompanied by various promotions that we continue to do. The second is, how many donuts will be opened," he said.
Regarding Fore Donut's expansion plan, Vico emphasized that the company is very careful in opening every new outlet and every outlet that will be opened is based on a thorough analysis.
He added that the opening of Fore Donut will begin in tier 1 areas such as Jakarta, Jabodetabek, Bandung, and Surabaya, as well as tier 2 covering other provincial cities.
"We prioritize for now, some time in the future, to focus more on Fore donuts entering tier 1 and after that entering tier 2. But again because of the precautionary principle, we will carry out a lot of evaluations of each outlet that will be opened," he said.
Vico added that after finding the right pattern and location, the new company will begin to expand, this is done to maintain business sustainability and ensure that all Fore products can be accepted and liked by the Indonesian people.
He said that Fore Coffee is optimistic that it can continue the trend of increasing exponential business performance in 2025, following a significant increase in financial performance in the 2024 financial year.
Vico stated that in the midst of an economic slowdown, the Company sees the food and beverage industry, especially coffee products and non-alcoholic drinks, still showing strong growth potential.
"Customers' enthusiasm for our product innovations such as Butterscotch Sea Salt Latte and Triple Peach Americano, which are successful in being the best-selling product, is proof of a sustainable market attraction," he said.
Vico also highlighted the public's positive response to the expansion of the Fore Coffee outlet. "We see high enthusiasm at every opening of the Company's new outlet. By the end of 2024, our network has reached more than 40 cities in Indonesia and Singapore," he added.
According to him, with the community's need for recreation, which can be met by consumption of high-quality food and beverage products at affordable prices as offered by Fore Coffee, it is also seen that it plays quite a role in this.
Vico mengungkapkan, optimisme Fore Coffee untuk mencapai target kinerja keuangan untuk Tahun Buku 2025 didasari praktik pembukaan outlet baru yang semakin matang dan sistematis, serta adanya komitmen operational excellence sebagai pilar utama untuk menjaga kualitas dan efeksi.
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Yang tidak kalah penting, kekuatan brand Fore Coffee yang terus berkembang dan semakin diterima oleh konsumen telah memberikan percaya kepada kami untuk melangkah lebih jauh lebih jauh di tahun 2025, ucap Vico.
For information, Fore Coffee recorded an increase in revenue of 115 percent to Rp1.04 trillion and helped push the profit increase of more than 4,900 percent to Rp58.2 billion in the 2024 Fiscal Year.
He added that the increase was driven by an increase in the number of outlets by 35 percent, reaching a total of 232 outlets by the end of 2024.
In addition, until December 31, 2024, the amount of Fore Coffee equity was Rp253.12 billion or an increase of 227 percent (YoY), while liabilities recorded an increase of 48 percent (YoY) to Rp387.64 billion. Thus, until the end of 2024, Fore Coffee's total assets will be Rp640.76 billion or grow 89 percent (YoY).
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