GROUP PERFORMANCE REVIEW IndoAgri is a vertically integrated agribusiness group and a palm oil producer in Indonesia, with operations spanning from R&D, seed breeding, oil palm cultivation and milling, to the manufacturing and marketing of cooking oils, margarine and shortening. The Group also cultivates sugar cane, rubber and other crops as part of its diversified portfolio. The Plantation Division is IndoAgri’s principal business. In Indonesia, the Division owns 280,975 hectares of planted crops and operates 27 palm oil mills, three crumb rubber processing facilities, two sheet rubber processing facilities, two sugar mills and refineries, and one factory each for the production of tea and cocoa. It also has an investment in three sugar and ethanol mills in Brazil through CMAA. The Group’s Edible Oils and Fats Division owns and operates five refineries across Indonesia to produce a wide range of branded cooking oils, margarine, shortening and specialty fats. FINANCIAL HIGHLIGHTS CPO prices in 2025 were supported by tightened supply and strong demand from Indonesia’s biodiesel programme. Domestic CPO prices (KPB) increased 8% to an average of Rp14,234 per kg, while international CPO prices (CIF Rotterdam) rose 15% to USD 1,283 per tonne. Higher coconut oil prices supported palm kernel’s competitiveness, and the rise in palm kernel prices contributed to the Group’s results. In contrast, raw sugar prices (NYMEX No. 11) declined from a peak of 24 US cents per pound in 2024 to about 15 US cents per pound by the end of 2025, driven by higher production in Brazil, India and Thailand, as well as softer demand. Our sugar operations in Brazil were impacted by weaker raw sugar prices. The Group delivered an improved set of results with higher revenue and profit. Total revenue increased 32% mainly due to higher revenue recorded by both Plantation and Edible Oils and Fats Divisions on higher average selling prices and sales volumes. Gross profit improved 13% on stronger revenue, but this was partially offset by higher production costs. Net profit after tax improved 19% to Rp2.5 trillion on higher gross profit and lower other operating expenses arising from lower impairment and write-off of property, plant and equipment, and lower provision for plasma receivables. This was partly offset by increased selling and general administrative expenses, lower other operating Revenue (Rp trillion) Net Profit to Owners of the Company (Rp trillion) Profit from Operations (Rp trillion) NAV per share (Rp) 21.1 16.0 16.0 2025 2024 2023 0.6 2025 2024 2023 3.7 3.2 1.9 2025 2024 2023 2025 2024 2023 1.3 11,176 10,242 9,703 1.1 Indofood Agri Resources Ltd. 10 Group Overview Operation and Financial Review Financials Other Information Sustainability and Governance
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