JAKARTA - PT Sariguna Primatirta Tbk (CLEO), a bottled drinking water manufacturer under Tanobel Group, recorded net profit surge 66% year-on-year (yoy) to IDR 324.09 billion at the end of 2023.

A significant net profit jump in 2023 is driven by increased consolidated sales, which, according to Financial Report 2023 of CLEO, reached IDR 2.09 trillion. This figure grew 25% yoy from IDR 1.67 trillion of sales recorded in 2022.

“CLEO’s success has continued to grow double digits over the last few years, supported by the integration of the Company’s business ecosystem so that it is more effective and efficient,” said Melisa Patricia, CEO of CLEO, in the information disclosure today (2/4).

It is worth mentioning that the company’s sales were still dominated by sales to third-parties, covering 99% of total revenue in 2023, similar to 2022. Sales of drinking water in bottles reportedly reached IDR 1.1 trillion, followed by non-bottles of IDR 944.07 billion and other income of IDR 34.74 billion.

As of now, CLEO has 31 factories, the largest number of factories amongst other drinking water manufacturers in Indonesia. Based on the press release today (2/4), the company reportedly prepared capital expenditure (capex) of IDR 450 billion for 2024, which will be allocated to expand new factories outside Java Island.

“It will be used for adding new factories (in Palu, Pontianak, and Pekanbaru), developing existing factories, adding machines to increase production capacity and automation, and expanding the distribution network,” added the management of CLEO further. (ZH)