JAKARTA – PT Mandom Indonesia Tbk (TCID) experienced a significant downturn in its performance throughout 2024 compared to 2023. The company recorded a 9.37% drop in revenue and a 227.27% year-on-year (yoy) net loss.

According to the 2024 Financial Report released on Thursday (20/3), Koichi Watanabe, President Director of TCID, stated that the company generated sales of IDR 1.85 trillion, down from IDR 2.05 trillion in 2023.

Domestic sales contributed IDR 1.09 trillion, declining 17.3% from IDR 1.33 trillion, while exports amounted to IDR 760.18 billion, an increase of 5.70% from IDR 719.14 billion.

Revenue by user category included men’s products totalling IDR 1.10 trillion, down 0.62% from IDR 1.11 trillion; women’s products contributing IDR 741.46 billion, a 19.50% decrease from IDR 921.14 billion; and other products amounting to IDR 12.5 billion, down 25.70% from IDR 16.49 billion.

TCID recorded a gross profit of IDR 241.79 billion by the end of 2024, a 40.53% decline from IDR 406.61 billion, leading to a reduction in gross profit margin to 13% from 19.83%.

As a result, the company posted an operating loss of IDR 198.39 billion, a 245.02% drop from an operating profit of IDR 813 million, culminating in a net loss of IDR 124.74 billion, compared to a net profit of IDR 38.11 billion. (LK/ZH)