JAKARTA – PT Ultrajaya Milk Industry & Trading Company Tbk (ULTJ) reported a net profit of IDR 1.13 trillion as of 31 December 2024, a 2.58% decline from IDR 1.16 trillion in the same period the previous year.

ULTJ’s 2024 Financial Report, disclosed on Friday (28/2), noted that the company recorded sales of IDR 8.87 trillion, up 6.86% year-on-year (YoY) from IDR 8.3 trillion, slightly below the management’s target of 7-10%.

However, the cost of goods sold also rose by 4.3% YoY, reaching IDR 5.85 trillion from IDR 5.61 trillion, leading to a 2.58% YoY decline in profit.

Previously, in Q3 2024, ULTJ had also seen a drop in net profit despite higher sales. ULTJ reported total sales of IDR 6.58 trillion, up 7.6% YoY from IDR 6.11 trillion. However, net profit fell by 6.1% YoY, from IDR 951 billion to IDR 893 billion in Q3 2024.

For 2025, ULTJ aims to strengthen its leading segments, such as milk and tea products, which are the main contributors to sales. “We are targeting double-digit sales growth in 2025, led by our flagship products Dairy UHT and Tea RTD,” said Pahala, Head of Finance ULTJ, in a Public Expose on Friday (23/12).

Additionally, the company plans to expand its market by leveraging its distribution channels and subsidiaries to reach more consumers, both domestically and internationally.

At the same event, Pahala revealed that to manage the volatility of commodity prices, such as cocoa and sugar, ULTJ has taken proactive steps, including regular monitoring and projection of raw material prices to determine optimal purchasing strategies and collaborating strategically with suppliers to ensure supply stability. (EF/ZH)