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Public Expose
PT Ultrajaya Milk Industry & Trading Company Tbk
09 March 2026
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Material Pubic Expose
01 Company Overview
02 Update Financial Report 2025
03 Corporate Sustainability Strategy
02
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01 Company
Overview
www.ultrajaya.co.id 03
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Company Business Overview
Establishment and Production Farm Support
▪ Support of fresh milk supply from 2 large-scale dairy
▪ The Company was established in 1970 and farming industries (Mega Dairy Farms) owned by the
began commercial production in 1975 Company.
▪ Supply from farm industry and cooperative dairy farms
including UMKM / Micro, Small, and Medium Enterprises
Quality Excellence Production
▪ Production is carried out directly and through joint venture entities
▪ Pioneer of liquid milk beverage products with UHT technology; ("JV") and toll manufacturing;
▪ Quality aseptic packaging through partnerships with Tetra Pak ▪ Vertically integrated and automated production processes.
Since 1975 and Combibloc Since 1998
Sales and Distribution
Sustainable Growth ▪ Extensive sales and distribution network throughout
Indonesia and overseas
▪ Revenue Growth CAGR 6,5 % in the last 10 years;
▪ Listed on the Indonesia Stock Exchange since July 1990, ticker code
ULTJ;
▪ Market leader in packaged beverage products (UHT Milk and Tea Ready- Product variety
to-Drink) in Indonesia.
▪ Developing over 25 variants of quality UHT beverage products,
including milk and non-milk categories.
▪ Producing powdered milk and packaged juice drinks through Toll
Manufacturing.
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Company Milestone
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Subsidiaries, JV & Associated
PT PRAWIRAWIDJAJA PRAKARSA PUBLIC & OTHERS SABANA PRAWIRAWIDJAJA
23,78% 23,06% 53,16%
PT Ultrajaya Milk Industry & Trading Company Tbk
PT ULTRA PT ULTRA PT NIKOS PT TIRTA PT ITO-EN PT KRAFT PT MENARA PT BPO SEVEN
PETERNAKAN SUMATERA DAIRY DISTRIBUTION TALAGA JAYA ULTRAJAYA ULTRAJAYA ULTRA (40%)
BANDUNG SELATAN FARM INDONESIA (85%) WHOLESALE INDONESIA INDONESIA
(75%) (69%) (70%) (50%) (30%) (25%)
KOPERASI PT KARYA INDIVIDUAL ITO-EN ASIA MONDELEZ INDIVIDUAL INDIVIDUAL
INDIVIDUAL
PETERNAKAN PUTRAJAYA (15%) PACIFIC HOLDING INTERNATIONAL (75%) (60%)
(30%)
BANDUNG SELATAN PERSADA (50%) (70%)
(25%) (31%)
Data as of 31 December 2025
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Board of Directors & Commissioners
Sabana Prawirawidjaja Samudera Prawirawidjaja Jutianto Isnandar
Founder and President Direktur Director Director
• Over 25 years of experience with • Worked at Ultrajaya since 1974 as Production
• He is one of the founders of the Company.
Ultrajaya since 1989. Manager, Assistant Plant Manager, Sales &
• Appointed as President Director of the
• Also serves as President Director of PT Distribution Manager and currently serves as
Company since 1971, Also serves as
Campina Ice Cream Industry, Director of Director.
Commissioner at PT Kraft Ultrajaya
PT Kraft Ultrajaya Indonesia, Director of • Previously worked at PT Indomilk, Also
Indonesia, Main Commissioner at PT NDI,
PT Ito En Ultrajaya Wholesale, and served as President Commissioner of PT
Main Commissioner at PT Ito En Ultrajaya
Commissioner of PT USDF. Campina Ice Cream Industry
Wholesale, Commissioner at PT UPBS, and
Main Director at PT USDF
SUPIANDI PRAWIRAWIDJAJA SUHENDRA PRAWIRAWIDJAJA SONY DEVANO EVITA PUSPITASARI
President Commissioner Commissioner Independent Commissioner Independent Commissioner
• He has also worked as a CEO at SAR • Works also as a Lecturer in the
• He is one of the founders of the Company • Also served as the manager of CH Art &
Tax & Management Consultant since Department of Accounting, Faculty of
• Has served as Deputy Director of the Company Poetry Studio (1999-present)
Economics and Business, UNPAD, since
(1971-1980). 2013, has been a attorney at the Tax
Court since 2000, has been a Partner at 1999;
a Public Accounting Firm since 2018, and • Audit Committee of the Indonesian
as a master program lecturer at Education University, since 2020; Expert
Padjajaran University. Staff of SAR TAX Management &
Consultant, since 2021;
• Partner of Sarana Solusi Nawala (SSN)
Consulting, since 2023; Expert Staff of
KAP Jojo Sunaryo & Rekan (JSR)
Bandung Branch, since 2024
The complete profiles of the Board of Directors and Board of Commissioners can be found on
the Company's website and Annual Report.
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Vision, Mission, Values & Culture
VISION VALUE & CULTURE
➢ Quality
To become the best and the MISSION The company has a standard
of values that serve as
largest Food and Beverage ➢ Integrity
aspirations for all activities
industry in Indonesia, through To conduct business based on carried out by all company
consistently prioritizing high sensitivity, consistently ➢ Costumer Focus
organs. Values such as
consumers satisfaction, and orienting to the market and customer satisfaction,
highly upholding our consumers, continuously ➢ Value Added
product quality, and business
stockholders and business maintaining environmental ethics, form a basic guideline
partners’ trusts consciousness, with the end goal ➢ Teamwork & Collaboration
and philosophy of mutual
of optimally cooperation in the company.
conducting business to achieve
value added performance to our
Shareholders
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02 Update Financial Report 2025
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Pertumbuhan Perseroan
CAGR (Compound Annual Growth Rate)
REVENUE NET PROFIT & EBITDA1
2,00
10,00
1,87
1,80 1,81
9,00 8,87 8,77
8,30 1,60 CAGR EBITDA 1,65 1,62
8,00 1,55
7,66
1,40
6,0% 1,42 1,46
7,00 1,38
6,62 1,28
6,00 6,22 5,97 1,20 1,19
1,11 1,11 1,15
5,47 1,04 1,04 1,04
5,00 4,88 1,00 0,97
4,69 CAGR REVENUE 6,5%
4,00 0,80
3,00
0,71 0,72 0,70 CAGR NET PROFIT 6,9%
0,60
2,00 0,40
1,00
0,20
-
-
2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Numbers in Trillion Rupiah
1 EBITDA (Earning before interest, tax, depreciation, amortization);
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Business Overview
4,3%
11,5% DAIRY PRODUCT
Dairy
11 % 6%
Tea & Health
Others
Market Share Susu Ultramilk: 37%
83,2% 7.297
6.865
6.187
(Nielsen 31/12/2025)
SALES 2025
2023 2024 2025
TEA & HEALTH DRINK
-7 %
OTHERS
2%
-28%
- 24 %
Market Share Teh Kotak: 53%
1.625 1.509 491 500
1.093 378
(Nielsen 31/12/2025)
2023 2024 2025 2023 2024 2025
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Tinjauan Keuangan
REVENUE Sales & Growth (IDR Bn, % of Sales) NET PROFIT Net Profit & Margin (IDR Bn, % Sales)
7% 15,7%
-1% 14,3% 13,0%
8.874 8.768 1.378
8.303 1.186 1.154
2023 2024 2025 2023 2024 2025
Gross Profit (IDR bn, % of Sales) EBITDA ¹ & Margin (IDR Bn, % of Sales)
GROSS PROFIT EBITDA
21,4%
34,1%
32,7%
19,8%
32,4% 18,3%
3.022 1.873
2.869
2.692 1.646 1.622
2023 2024 2025
2023 2024 2025
1 EBITDA (Earning before interest, tax, depreciation, amortization)
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Financial Highlights
COST OF GOODS SOLD
32,4% 34,1% 32,7%
4.822 5.134 5.055
2023 2024 2025
Direct Materials Direct Labour Depreciation
Electricity and Energy Repair and Maintenance Salary and wages
SELLING EXPENSES
15,2%
11,8% 11,5%
812
469 489
2023 2024 2025
Advertising and promotion Freight-out Others %
GENERAL & ADMINISTRATIVE EXPENSES
3,0% 3,1% 3,0%
138 159 161
2023 2024 2025
Salary & Wages Others %
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Financial Highlights
Balance Sheet (in Billion Rupiah) Cash Flow (in Billion Rupiah)
9000,0 8.461 8.316
8000,0 7.524 7.427
6.687
7000,0
6000,0 4.870 5.195
5000,0 4.411
1.396 1.694
4000,0 1.262
3000,0
2000,0 1.034 937
837
1000,0
-
2023 2024 2025
2023 2024 2025
Current Assets Total Assets Liabilities Total Liabilities Total Equity
Capital Expenditures (in Billion Rupiah)
Financial Ratio
2023 2024 2025
Profit (Loss) to Total Assets Ratio (%) 15,8 13,6 14,9 581 483
Profit (Loss) to Equity Ratio (%) 17,7 15,5 16,6 392
Profit (Loss) to Revenue Ratio (%) 14,3 13,0 15,7
Current Ratio (x) 6,2 5,4 6,6
Liabilities to Equity Ratio (x) 0,1 0,1 0,1 2023 2024 2025
Liabilities to Total Assets Ratio (x) 0,1 0,1 0,1
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SUMMARY FINANCIAL REPORT
Balance Sheet
As Of December 31st Income Statement Cash Flow
(in IDR million) 2023 2024 2025
Current assets (in IDR million) FY2023 FY2024 FY2025 (in IDR million) FY2023 FY2024 FY2025
Cash 2.174.324 2.434.322 3.163.368 Revenue Cash flow from operations
8.302.741 8.874.202 8.767.854
Trade receivables 710.304 818.519 740.928 Net Cash flow from
COGS (5.611.170) (5.852.425) (5.898.543) operating activities 1.589.836 1.568.773 1.929.102
Inventories 1.431.226 1.389.673 1.106.630 Gross profit 2.691.571 3.021.777 2.869.311 Interest income 124.512 122.932 103.844
Others 95.621 227.234 183.904 Interest expense (45.168) (127) (128)
Selling expenses (982.835) (1.347.339) (1.011.159)
Total current assets 4.411.475 4.869.748 5.194.830 Income tax (286.066) (393.559) (338.909)
General & administrative
Non-current assets Others 13.184 (36.436) -
expenses (252.663) (275.431) (261.414)
Fixed assets 2.346.120 2.460.538 3.234.963 Net cash generated from
Other expenses & Income 17.142 49.318 88.577 operating activities 1.396.298 1.261.583 1.693.909
Investment in associates 111.185 132.526 163.648
Other non-current assets 655.176 998.553 660.029 Total (1.218.356) (1.573.452) (1.183.996)
Operating Income Cash flow from investing
Total non-current assets 3.112.481 3.591.617 4.058.640 1.473.215 1.448.325 1.685.315 Capex (391.908) (581.136) (482.751)
Total assets 7.523.956 8.461.365 9.253.470 Finance income 69.861 37.424 38.979 Others 873.854 23.614 12.730
Current liabilities Finance cost (46.848) (127) (128) Net cash from investing
Trade and other payables 465.275 555.145 484.062 Shares profit in associates / activities 481.946 (557.522) (470.021)
ST loans 1.567 1.694 1.622 JV 11.057 21.341 22.922
Current portion of LT Cash flow from financing
Lease 10.358 9.093 12.154 Profit Before Income Tax Payment of Medium –
1.507.285 1.506.963 1.747.088
Other current liabilities 236.193 336.882 290.010 Term Notes (600.000) - -
Income tax expenses (321.124) (353.047) (369.628) Payment of lease payable 118 127 -
Total current liabilities 713.393 902.814 787.848
Others (352.680) (444.190) (494.842)
Non-current liabilities Net cash from financing
Profit after tax 1.186.161 1.153.916 1.377.460
LT Lease 18.976 27.061 29.748 activities (952.562) (444.063) (494.842)
Deferred tax 2.529 7.384 10.766
Other 102.090 97.188 108.648 Profit attributable to: Net increase/(decrease) in
Total non-current Owners of the parent 1.169.212 1.136.624 1.353.297 cash 925.682 259.998 729.046
liabilities 123.595 131.633 149.162 Cash at beginning of
Non-controlling interest 16.949 17.292 24.163 year/period 1.248.642 2.174.324 2.434.322
Total Liabilities 836.988 1.034.447 937.010
Cash at end of
EBITDA
1.646.062 1.621.711 1.872.671 year/period 2.174.324 2.434.322 3.163.368
Minority interest 86.159 87.688 95.885
Equity 6.600.809 7.339.230 8.220.575
Total Liabilities and
Equity 7.523.956 8.461.365 9.253.470
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03 Corporate Sustainability Strategy
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Corporate Strengths
1 2 3 4 6
Leading Market Vertically Integrated Present in Multiple Categories
Strong Industry
Position Ready to and Automated and Good Track Record in
Fundamentals
Capture Sustainable Production Facilities Product Development
Growth
5 6 7 8
Strict Quality Control Extensive National Good Quality Fresh Milk
throughout the Highly
Distribution Network Supply
Production Chain Experienced
Management 176
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Jaringan Distribusi
GENERAL TRADE OUTER ISLAND MODERN TRADE EXPORT THIRD PARTIES
50,4% 32,2% 12,5% 0,3% 4,6%
25 Representative Offices in Java
9 OFFICIAL STORE ( e-commerce)
65 Autorized Distributors outside Java
87.500 Points of sale in Java
14 Overseas Distributors
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Langkah Strategis
Continuous investment to improve Strengthen brand and expand market
operational efficiency and integrate ESG coverage to drive revenue growth
initiatives
Sustained focus on new Optimize distribution platform,
product development ensuring optimal national availability
Develop farm and milk supply chain to Increase production capacity and
ensure continuity of supply warehouse
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Promotion & New Product
As a strategic moves:
▪ Strengthen brand and expand market reach to drive revenue growth
▪ Sustained focus on new product development
New Product Launch 2025:
Ultramilk Blueberry Blast
Billboards in strategic areas and Box Truck Car
Branding
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Social Value Promotion
As a strategic move
▪ Strengthen brand and expand market reach to drive revenue growth
▪ Support ESG Initiatives
Sports Activities
(Running)
Blood Donation
Academic Activities
National
Children's
Day Activities
Religious activities, environmental
initiatives, natural disaster relief,
Aktivitas sosial dan lingkungan secara lengkap akan termuat dalam and others
Laporan Keberlanjutan 2025 21
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Support Free Lunch Program (MBG)
As a strategic moves:
▪ Ultrajaya fully supports the Government's MBG program
▪ Strengthen brand and expand market reach to drive revenue growth
(As Free campaign to increase national milk consumption in the long run)
The Plus Point:
1) Produced by Ultrajaya, a company with a proven track record of maintaining
product quality for over 50 years.
2) Contains Fresh Milk, Calcium, and Protein that meet the standards set by the BGN
(National Nutrition Institution)
Sales School Product – Free lunch program
(direct order), % of total sales
0,1% 0,6% 1,3% 2,2% 1,8% 2,1%
JUL AGU SEP OKT NOV DEC
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New Facilities – UJ MM2100
As a strategic move:
- Increase production and warehouse capacity and support distribution
- Sustainable investment to improve operational efficiency, Productivity and integrate ESG Initiative
Total Area : 200.000 m2
Building & Facility Area : 73.000 m2
Open Space : 127.000 m2
Area Warehouse Area Factory
+/- 25,000 m2 +/- 38,000 m2
Capacity Capacity
36,940 Pallet position Total : 400 kT / year
- Phase I : 200 kT / year
System System
❑ ERP (Enterprise Resource Planning) Oracle ❑ ERP (Enterprise Resource Planning) Oracle
❑ ASRS (Automated Storage & Retrieval ❑ HRIS (Human Resources Information System)
Systems) ❑ Automatic GEA Processing
❑ 15 levels Rack FG ❑ Fresh Milk Reception
❑ 14 Levels Rack RMPM ❑ Tetrapak Technology
❑ Robotic + AGV (Automatic Guided Vehicle)
❑ MES (Manufacturing Execution System)
❑ AI (Artificial Intelligent) Camera
Location :
Jln. Irian XV, Blok RR No.15,
MM2100 Industrial Estate,
Cibitung, Jawa Barat.
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New Facilities – UJ MM2100
Also as a strategic move:
Target 5-0-0-0:
- Implementation of ESG Initiatives
❑ Systems & Technology:
▪ Industrial 4.0
▪ Improving efficiency, productivity, and innovation in industry
▪ Automation (Robotics) machinery and material handling
▪ Internet of Things (IoT), integrated systems
❑ Enhancing Efficiency and Productivity ➢ Top 5 Best UHT Factory in the world (Quality & Cost Efficiency)
❑ Environmentally friendly (waste management, emission reduction) ➢ Zero Accident (Excellent workplace safety through incident
prevention and strong Occupational Safety and Health - OSH culture)
➢ Zero Waste (Cost efficiency and waste minimization throughout
entire operation process)
➢ Zero Carbon Emission (Sustainability commitment and
environmental responsibility)
Water & Waste Management Initiatives:
o Rain Water Harvesting
Utilization and collection of rainwater as an alternative water source.
o Closed-Loop Water System
Production management system with high-efficiency water recycling
(efficiency rate above 95%)
o Biological Wastewater Treatment
Wastewater treatment system using aerobic and anaerobic bacteria
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Disclaimer
These materials are not intended to be a public offering document under Law of the Republic of Indonesia No.8 of 1995 on Capital Markets and its
implementing regulations. Persons into whose possession these materials come are required to inform themselves about and to observe, any restrictions
in distributing these materials. These materials may not be used for the purpose of an offer or an invitation in any circumstances in which such offer or
invitation is not authorized.
This information does not constitute and is not an offer to sell or the solicitation of an offer to buy securities (the “Securities") of PT Ultrajaya Milk
Industry & Trading Company Tbk (the “Ultrajaya”) in the United States or elsewhere. Ultrajaya has not registered and does not intend to register the
Securities under the U.S. Securities Act of 1933, as amended (the “Securities Act”) and the Securities may not be offered or sold in the United States
absent registration under the Securities Act or pursuant to an exemption from, or in a transaction not subject to, registration. Ultrajaya does not intend
to make any public offering of the Securities in the United States or elsewhere.
This document includes forward-looking statements. These statements contain the words "anticipate", "believe", "intend", "estimate", "expect“, “plan”
and words of similar meaning. All statements other than statements of historical facts included in this document, including, without limitation, those
regarding Ultrajaya's financial position, business strategy, plans and objectives of management for future operations (including development plans and
objectives relating to Ultrajaya's business and services) are forward-looking statements. Such forward-looking statements involve known and unknown
risks, uncertainties and other important factors that could cause the actual results, performance or achievements of Ultrajaya to be materially different
from results, performance or achievements expressed or implied by such forward-looking statements. Such forward-looking statements are based on
numerous assumptions regarding Ultrajaya's present and future business strategies and the environment in which Ultrajaya will operate, and must be
read together with those assumptions.
These forward-looking statements speak only as at the date of this document. Predictions, projections or forecasts of the economy or economic trends
of the markets are not necessarily indicative of the future or likely performance of Ultrajaya. Past performance is not necessarily indicative of future
performance. The future financial performance of Ultrajaya is not guaranteed. You are cautioned not to place undue reliance on these forward-looking
statements, which are based on the current views of Ultrajaya on future events. Ultrajaya expressly disclaims any obligation or undertaking to
disseminate any updates or revisions, except as required by law, to any forward-looking statements contained herein to reflect any change in Ultrajaya's
expectations with regard thereto or any change in events, conditions or circumstances on which any such statement is based.
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THANK YOU
Names mentioned 26 people and organisations named in the text · linked when the evidence is strong
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PT Ultrajaya Milk Industry
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Trading Company Tbk
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Indonesia Stock Exchange
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PT PRAWIRAWIDJAJA PRAKARSA
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PT ULTRA
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PT NIKOS
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PT TIRTA
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PT ITO-EN
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PT KRAFT
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PT BPO SEVEN PETERNAKAN
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PT KARYA
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PT Kraft Ultrajaya
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PT Kraft Ultrajaya Indonesia
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PT Indomilk
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PT NDI
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PT Ito En Ultrajaya Wholesale
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PT Ito En Ultrajaya
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PT USDF.
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PT UPBS
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PT USDF SUPIANDI PRAWIRAWIDJAJA
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Jojo Sunaryo & Rekan
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Jojo Sunaryo
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