MYOR’s increased sales were supported by the processed food and beverage packaging segment.

JAKARTA – Indonesia’s largest consumer goods company, PT Mayora Indah Tbk (MYOR), recorded a drop in net profit despite sales growth throughout 2024.

According to IDNFinancials.com data, MYOR’s net profit fell by 6.05% year-on-year (yoy) to IDR 3 trillion for the 2024 fiscal year. In the previous year, its net profit had reached IDR 3.19 trillion.

Despite the pressure on its profits, MYOR’s net sales grew by 14.57% yoy, from IDR 31.49 trillion in 2023 to IDR 36.07 trillion in 2024.

Previously, MYOR’s management stated that last year’s performance was still in line with their targets. However, in 2025, the company faces key challenges such as commodity price fluctuations, which could affect profit margins.

On the other hand, MYOR is also preparing to launch several new products to strengthen its market position. However, details of these new products have not yet been disclosed.

“The challenges in 2025 are still related to commodity price fluctuations, while there are a few new products ready for launch,” said MYOR’s management.

The increase in sales was driven by the processed food segment, which contributed IDR 21.86 trillion, and the processed beverage segment, which contributed IDR 18.62 trillion.

The rise in cost of goods sold (COGS) was the main factor that pressured MYOR’s profits. COGS rose 20.37% yoy to IDR 27.77 trillion in 2024, causing MYOR’s gross profit to decrease by 1.19% yoy to IDR 8.3 trillion in 2024.

As of today’s trading (3/3) at 11.14 AM WIB, MYOR’s share price increased by 1.42% to IDR 2,160 per share. However, over the past month, its share price has dropped by 7.73% from IDR 2,330 per share. (DK/KR/ZH)