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Public Expose
FY24 Audited and 1Q25
26 June 2025
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Agenda
1. Leadership Team
2. 2024 Performance
3. What’s Next in 2025
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Leadership Team
SIDHARTA P. OETAMA ANGGARA A. LINANDA BUDI SUSANTO KURDI GUNAWAN
President Director Director Director Director
HARTANTO KUSMANTO VEBBYNA DEWIANTI NURINDRA PRAWARIANTO
Director Director Director
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Agenda
1. Leadership Team
2. 2024 Performance
3. What’s Next in 2025
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Summary
Profit and Loss
1. Revenue grew by 5.6% YoY to Rp4.37T, with improved gross profit margin from 41.7% in FY23
to 43.1% in FY24.
2. EBITDA margin stable at 10.4% or Rp455B in FY24.
3. S&M (excl A&P) increased from 10.2% to 12.2% of revenue in FY24 aligned with the
development of sales infrastructure, while G&A were maintained at 9.0% of revenue in FY24 vs
8.2% in FY23.
4. A&P as % of revenue went down from 18.1% in FY23 to 17.6% in FY24.
5. All in all, FY24 NPAT reached Rp88.9B, representing 2.0% of total revenue, and an increase of
Rp11.7B from FY23.
Balance Sheet and Cash Flows
1. CCC improved from 67 days as of Dec-23 to 63 days as of Dec-24 through improvement in all
working capital metrics.
2. Positive FY24 operating CF at Rp408.6B, used for loan repayment.
3. O/S bank loan is at Rp1.7T as of Dec-24, 5.5% lower vs Dec-23; net debt / equity maintained at
1.0 as of Dec-24.
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Establishing Platform for Growth in 2024
Innovating on New Product
Financial Discipline Internal Process Improvement
Launch
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Revenue grew by 5.6% and GPM improved by 1.4 percentage point
with efficiency in production process
Revenue Gross Profit and GPM
RpB RpB
+5.6%
GPM GP
4,367 +9.3%
4,136 47.9%
4,025 3,977 45.2%
41.7% 43.1%
3,631
36.0%
1,929 1,885
1,796
1,724
1,309
2020 2021 2022 2023 2024 2020 2021 2022 2023 2024
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Beverage is still the largest but with less contribution to the total
Sales; Meanwhile Personal Care’s contribution become larger
Revenue by Segment
RpB
Personal Care Beverages Foods Pharmaceutical Pet food
Sales in RpB Segment proportion in %
+5.6%
4,136 4,367 4,136 4,367
1,335 1,593 32.3% 36.5%
2,291 55.4% 53.8%
2,351
441 367 10.7% 8.4%
61 9 23 33 1.5% 0.2% 0.5% 0.7%
2023 2024 2023 2024
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EBITDA is lower, but NPAT grew by Rp12B YoY, helped by higher
MTI income by Rp16B YoY
EBITDA and EBITDA Margin NPAT and NPM
RpB RpB
EBITDA Margin EBITDA NPM NPAT
11.4% 11.6%
9.9% 10.4% 2.8% 2.5% 1.9% 2.0%
478 455 114 98 77 89
452
396
-26.2%
-15.2%
-553 -950
2020 2021 2022 2023 2024 2020 2021 2022 2023 2024
Notes: EBITDA is calculated by adding back interest-net, tax, depreciation and amortization to the NPAT. 9
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S&M’s CR increased with the development of sales infrastructure,
while G&A’s CR were maintained at 9.0% of sales
S&M (excl, A&P) and as % of sales G&A and as % of Sales
RpB, % RpB, %
% of Revenue S&M (excl. A&P) % of Revenue G&A
14.5% 19.2%
13.6% +26.6% +7.1%
13.2%
12.2%
12.3%
10.2% 10.4%
549 534 697 8.2% 9.0%
524 525
422
497
412
362
338
2020 2021 2022 2023 2024 2020 2021 2022 2023 2024
Notes: S&M excl. A&P but incl. MP ad delivery; GA incl. MP 10
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A&P higher by 3.0% YoY with increased ATL portion. CR is lower
by ~0.4 percentage point YoY
A&P
RpB
% of Revenue ATL BTL
23.5%
18.9%
18.1% 17.7%
16.7%
+3.0%
852
752 747 770
171
673 110
64 238
453
642 681
609
510
317
2020 2021 2022 2023 2024
Notes: BTL includes in-store promo, disers, cash discounts, listing fee, etc 11
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Improved working capital with CCC is now at 63 days (4 days
shorter than last year)
A/R and A/R Days A/P and A/P Days
RpB, Days RpB, Days
A/R Days A/R A/P Days A/P
125 131
115
90 79
79 78 71 78
1,429 1,458 77
867 949 911
602 486
478 470 446
2020 2021 2022 2023 2024 2020 2021 2022 2023 2024
Inventory and Inventory Days Cash Conversion Cycle (CCC)
RpB, Days Days
WIP Days FG Days RMPM Days
Inventory: 159
690 605 450 438 465
126
Total Inventory days: 143
107 107 82 66 65
4 4 67 63
60 58 3 3
3
41 27 21
43 45 37 36 42
2020 2021 2022 2023 2024 2020 2021 2022 2023 2024
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Bank loan at the lowest in 5 years, combined with the strong
performance, the net debt/equity were maintained at 1x
Bank Loan
RpB
ST Loan CPLTD LT Loan
-5.5%
2,238
1,788 1,800 1,822 1,723
959
759 811
1,393 240 977
153 265
70 1,039 1,279 1,011 316 746
888 746
326 430
2020 2021 2022 2023 2024
Net Debt and Equity
RpB
Net Debt Equity Net Debt / Equity
1.3
1.0 1.0
0.6
2021 2022 2023 2024
2,614
1,604 1,657
1,601
2020 2021 2022 2023 2024
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Operating Cashflow were maintained positive
Cash Flows
RpB
CFO CFF CFI FX Impact Other
Cash Balance:
184 204 195 166 121
Net Change in Cash:
(84) 20 (9) (28) (45)
49
752
592
369 240 409
3 22 3 6
-71 -127
-214 -257
-385 -14 -617 -381
-354
-4
-108
-58
2020 2021 2022 2023 2024
Notes: “Other” in FY23 and FY24 refers to cash in KFI. Due to the liquidation process, the auditor decides to report it separately 14
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Agenda
1. Leadership Team
2. 2024 Performance
3. What’s Next in 2025
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Kino’s key initiatives in 2025
2024 2025
Accelerating Optimization in
Establishing Platform for Product Innovation Production Process
Growth
Well Targeted Sales Team
Promotional Activities Capabilities
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Snapshot: Improved 1Q25 performance, on growth and margin
Revenue Gross Profit and GPM NPAT and NPM
RpB RpB RpB
+2.1% GPM Gross Profit NPM NPAT
1,127 45.0%
1,104 41.9% 3.5%
507
1.7% 40
462
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1Q24 1Q25 1Q24 1Q25 1Q24 1Q25
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Thank You www.kino.co.id
Names mentioned 6 people and organisations named in the text · linked when the evidence is strong
unresolved
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Bank Loan RpB ST Loan
p.13
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