JAKARTA – PT Indonesia Fibreboard Industry Tbk (IFII) recorded a 77.42% year-on-year (yoy) increase in net profit to IDR 179.02 billion in 2024, up from IDR 100.9 billion in the previous year.

According to its latest financial report, IFII's profit in 2024 was supported by sales performance, which reached IDR 1.24 trillion in 2024. Sales in this period rose by 26% from the previous year, which was only IDR 986.98 billion.

Sales from the export segment reached IDR 1.02 trillion, while local sales amounted to IDR 221.61 billion.

Net sales in 2024 were primarily driven by MDF ME products, which reached IDR 708.61 billion. Meanwhile, MDF Japan products contributed IDR 280.99 billion, regular MDF IDR 245.4 billion, and other products amounted to IDR 8.63 billion.

Although sales increased by 26%, IFII only recorded an increase in the cost of goods sold in 2024.

According to IDNFinancials.com, IFII's total assets fell by 7.41% to IDR 1.75 trillion as of 31 December 2024, while total equity dropped by 6.56% to IDR 1.3 trillion. (DH/KR/ZH)