Cimory, Milk And Yoghurt Producer Owned By Conglomerate Bambang Sutantio Raised Sales Of IDR1.46 Trillion And Profit Of IDR269.81 Billion In The First Quarter Of 2022

Photo: Doc. Cimory

JAKARTA - Milk and yogurt producer owned by conglomerate Bambang Sutantio, PT Cisarua Mountain Dairy Tbk (CMRY) alias Cimory, posted an increase in sales in the first quarter of 2022. Positive performance in the first three months of this year, followed by an increase in net profit.

In Cimory's financial report, quoted on Saturday, May 7, the company recorded sales of Rp1.46 trillion in the first quarter of 2022. The sales increased 106.28 percent compared to the first quarter of 2021 of Rp712.59 billion.

During the January-March 2022 period, Cimory's sales were supported by the dairy product segment, which contributed 99.44 percent to total net sales with a value of Rp1.46 trillion. Sales of dairy products increased by 108.04 percent compared to sales in the first quarter of 2021 of IDR 702.66 billion.

Meanwhile, sales in the consumer food segment decreased from Rp9.93 billion in the first quarter of 2021 to Rp8.16 billion in the first quarter of 2022. Based on the geographical segment, domestic sales rose 91.76 percent year-on-year (year-on-year). year/yoy) to Rp901.88 billion, compared to Rp470.31 billion in the first quarter of 2021.

Overseas sales also increased significantly by 134.48 percent to Rp568.10 billion. CMRY's cost of goods sold also increased significantly by 118.74 percent YoY to Rp819.51 billion, from Rp374.65 billion in the first 3 months of the previous year.

The increase in cost of goods sold cannot be separated from the swelling use of raw materials and packaging from only IDR 291.08 billion in the first quarter of 2021 to IDR 738.78 billion in the first quarter of 2022, an increase of 153.80 percent YoY.

However, Cimory was still able to record an increase in gross profit of 92.47 percent YoY to Rp650.04 billion and operating profit of Rp.328.04 billion. Meanwhile, profit for the period attributable to owners of the parent entity in the first quarter of 2022 reached IDR 269.81 billion, an increase of 88.77 percent compared to net profit in the first quarter of 2021 of IDR 142.92 billion.

Until the end of March 2022, CMRY recorded an increase in total assets to Rp. 6.05 trillion, from Rp. 5.60 trillion at the end of 2021. The total liabilities of the company also increased from Rp. 906.84 billion at the end of 2021 to Rp. 1.09 trillion at the end of March 2022.

Meanwhile, the company's total equity increased to Rp4.96 trillion, from Rp4.69 trillion at the end of 2021.