Not KFC Or Sari Roti, It Was Indomaret That Made Anthony Salim's Company Profits Jump 387 Percent To Rp296.44 Billion

Indomaret Stores. (Photo: Doc. Wikimedia Commons)

JAKARTA - The company whose shares are controlled by conglomerate Anthony Salim, PT Indoritel Makmur Internasional Tbk (DNET) managed to record a net profit of IDR 296.44 billion in the first quarter of 2022.

It is PT Indomarco Prismatama, the company that owns and manages the Indomaret outlets that was able to have a significant impact on DNET's financial performance in the first three months of this year.

Citing DNET's financial report, Wednesday, June 8, DNET's net profit was boosted by 387.51 percent in the first quarter of 2022 thanks to the profit contribution from Indomaret. The profit contribution paid by Indomaret is even greater than the contribution of the two issuers that are associated with DNET, namely PT Nippon Indosari Corpindo Tbk (ROTI) and PT Fast Food Indonesia Tbk (FAST) aka KFC Indonesia.

DNET managed to record revenue from contracts with customers amounting to Rp224.82 billion. The realization soared by 66.02 percent compared to the first quarter of 2021, which was around Rp. 135.42 billion (year on year/yoy).

Meanwhile, DNET recorded a share of profits from associates and joint ventures of Rp227.42 billion. The growth reached 744.91 percent (yoy) compared to the first quarter of 2021 which was only Rp. 26.92 billion.

Now 93.50 percent of the profit share of the associates and joint ventures, or around Rp. 212.64 billion, was contributed by PT Indomarco Prismatama, the manager of Indomaret in the country.

The owner of Sari Roti, PT Nippon Indosari Corpindo Tbk (ROTI) only contributed about 10.01 percent of the total profit share of associates and joint ventures, or around Rp22.76 billion.

Meanwhile, PT Fast Food Indonesia Tbk (FAST), which manages the KFC fried chicken outlet, actually contributed a loss of Rp. 67 billion. Likewise, a joint venture with PT Network Mega Sedayu which contributed to a loss of IDR 309 million.

As a result, DNET's operating profit shot up 333.71 percent (yoy), from Rp.73.44 billion to Rp.318.52 billion. DNET's net profit also skyrocketed 387.08 percent (yoy) from Rp 60.81 billion to Rp 296.44 billion.

For information, DNET is the holder of 35.84 percent of FAST's shares. Meanwhile at ROTI, DNET is the controller with 25.77 percent ownership. Meanwhile, in PT Indomarco Prismatama, DNET holds 40 percent of the shares.

DNET, which is a company belonging to the Salim Group, as of April 30, 2022, 39.35 percent of DNET's shares are owned by Hannawell Group Limited. PT Megah Eraraharja, an entity belonging to the Salim Group is the controller with an ownership of 25.13 percent.

Anthony Salim himself holds 25.30 percent of DNET's shares. The remaining 10.22 percent is owned by public investors with ownership below 5 percent.