Hanjaya Mandala Sampoerna Tbk (HMSP), a cigarette manufacturer with the highest market capitalisation in Indonesia, scores net profit of IDR 3.32 trillion in the first half (H1) of 2024.
HMSP’s net profit in H1 2024 reportedly declined 11.47% year-on-year (yoy) from H1 2023, in which HMSP managed to score net profit of IDR 3.75 trillion.
Seen from the top-line, HMSP’s net sales actually increased 2.97% yoy to IDR 57.82 trillion in H1 2024. In the same period last year, its net sales were only IDR 56.15 trillion.
However, HMSP’s costs of sales in H1 2024 swelled, increasing 4.73% yoy to IDR 49.13 trillion. For comparison, in the same period last year, the costs of sales only clocked up to IDR 46.91 trillion.
HMSP’s machine-rolled kretek cigarette (SKM) products brought in the highest contribution to total sales with IDR 33.88 trillion. Then, hand-rolled kretek cigarette (SKT) sales followed with IDR 18.39 trillion, surpassing machine-rolled white cigarette (SPM) sales of IDR 3.66 trillion, hand-rolled white cigarette (SPT) sales of IDR 430.12 billion, and other products of IDR 748.92 billion.
As of June 30, 2024, HMSP reported total assets of IDR 51.02 trillion, with cash and cash equivalent of IDR 7.05 trillion. Meanwhile, total equity was reported at IDR 25.11 trillion. (KR/ZH)