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Annual General Meeting of Shareholders
Rapat Umum Pemegang Saham Tahunan
Jakarta, 27 May 2025
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Forward-Looking and Cautionary Statements
• This presentation has been prepared by the management of PT Hanjaya Mandala Sampoerna Tbk. (“HMS”) solely for use in connection with the presentation to
public during the Annual General Meeting of Shareholders and does not constitute or form part of an offer, solicitation, recommendation or invitation of any offer,
to buy or subscribe for any securities, nor should it or any part of it form the basis of, or be relied in any connection with, any contract or commitment whatsoever.
Further, nothing in this document should be construed as constituting legal, business, tax or financial advice.
• The information and opinions in this document are provided as at the date of this document (unless stated otherwise) and are subject to change without notice, its
accuracy is not guaranteed, and it may not contain all material or relevant information concerning HMS or its subsidiaries. Neither HMS nor any of its affiliates,
advisors and representatives make any representation regarding, and assumes no responsibility or liability whatsoever (in negligence or otherwise) for, the
accuracy or completeness of, or any errors or omissions in, any information contained herein nor for any loss howsoever arising from any use of these materials.
• This presentation and related discussion may contain projection of future results and other forward-looking statements. These statements can be recognized by the
use of words such as "expects", "plans", "will", "estimates", "projects", "intends" or words of similar meaning. Achievement of projected results is subject to risks,
uncertainties and inaccurate assumptions, and HMS is identifying important factors that, individually or in the aggregate, could cause actual results to differ
materially from those contained in any forward-looking statements made by HMS.
• HMS’ business risks include: excise tax increases and discriminatory tax structures; increasing marketing and regulatory restrictions that could reduce our
competitiveness, eliminate our ability to communicate with adult consumers, or ban certain of our products in certain markets or countries; health concerns
relating to the use of tobacco and other nicotine-containing products and exposure to environmental tobacco smoke; litigation related to tobacco use and
intellectual property; intense competition; the effects of global and individual country economic, regulatory and political developments, natural disasters and
conflicts; the impact and consequences of Russia's invasion of Ukraine; changes in adult smoker behavior; the impact of COVID-19 on HMS’ business; lost revenues
as a result of counterfeiting, contraband and cross-border purchases; governmental investigations; unfavorable currency exchange rates and currency devaluations,
and limitations on the ability to repatriate funds; adverse changes in applicable corporate tax laws; adverse changes in the cost, availability, and quality of tobacco
and other agricultural products and raw materials, as well as components and materials for our electronic devices; and the integrity of its information systems and
effectiveness of its data privacy policies. HMS’ future profitability may also be adversely affected should it be unsuccessful in its attempts to produce and
commercialize reduced-risk products or if regulation or taxation do not differentiate between such products and cigarettes; if it is unable to successfully introduce
new products, promote brand equity, enter new markets or improve its margins through increased prices and productivity gains; if it is unable to expand its brand
portfolio internally or through acquisitions and the development of strategic business relationships; if it is unable to attract and retain the best global talent,
including women or diverse candidates; or if it is unable to successfully integrate and realize the expected benefits from recent transactions and acquisitions.
Future results are also subject to the lower predictability of our reduced-risk product category's performance.
• HMS cautions that the foregoing list of important factors is not a complete discussion of all potential risks and uncertainties. HMS does not undertake to update
any forward-looking statement that it may make from time to time, except in the normal course of its public disclosure obligations.
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COMPOSITION OF THE BOARD OF COMMISSIONERS AND THE BOARD OF DIRECTORS
KOMPOSISI DEWAN KOMISARIS DAN DIREKSI
BOARD OF COMMISSIONERS BOARD OF DIRECTORS
DEWAN KOMISARIS DIREKSI
President Commissioner John Gledhill President Director The Ivan Cahyadi1)
Presiden Direktur
Presiden Komisaris
Vice President Commissioner Paul Janelle Directors Andre Dahan
Direktur
Wakil Presiden Komisaris
Independent Commissioner Justin Mayall Elvira Lianita
Komisaris Independen
Luthfi Mardiansyah Gunnar Beckers
Johan Bink
Sergio Colarusso
Sharmen Karthigasu
Yohan Lesmana Tjhin2)
1) Appointed as President Director effective as of May 1, 2024 | Diangkat sebagai Presiden Direktur yang berlaku efektif pada tanggal 1 Mei 2024
2) Appointed as Director effective as of June 1, 2024 | Diangkat sebagai Direktur yang berlaku efektif pada tanggal 1 Juni 2024
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CONTINUE TO DELIVER SHAREHOLDER RETURNS THROUGH DIVIDENDS
T E R U S M E M B E R I K A N P E N G E M B A L I A N PA D A P E M E G A N G S A H A M M E L A LU I D I V I D E N
• Over 111 years of presence in Indonesia, with a sizeable footprint across the value chain and continuous investments both
Investment and for domestic and export purposes
Lebih dari 111 tahun beroperasi di Indonesia dengan jejak operasional yang signifikan di seluruh rantai nilai serta investasi yang
Sustainability berkelanjutan untuk tujuan domestik dan ekspor
Investasi dan
Keberlanjutan • Sustainability in every aspect of our business and activities, creating long-term value for the broader ecosystem
Keberlanjutan dalam segala aspek usaha dan aktivitas bisnis Sampoerna, menciptakan nilai jangka panjang bagi ekosistem yang lebih luas
• Maintained leadership in the industry with a market share of 27.4% and an overall volume of 80.8 billion units. The combustible cigarettes
category continued to be under pressure from the downtrading phenomenon, while the smoke-free products performed well
2024 Company Mempertahankan kepemimpinan di industri dengan pangsa pasar sebesar 27.4% dan volume keseluruhan sebesar 80,8 miliar batang. Kategori rokok
Performance konvensional terus menghadapi tekanan dari fenomena downtrading, sementara produk bebas asap mencapai kinerja yang luar biasa.
Kinerja Perseroan 2024
• The Company recorded IDR6.6 trillion net profit in 2024
Perseroan membukukan laba bersih sebesar Rp6,6 triliun pada tahun 2024
• 7 New SKT facilities in 2024: 2 owned facilities and 5 facilities owned and operated by Third Party Operators (TPOs) were able
to create thousands of new workforces and multiplier effect to the surrounding community
Strategic 7 Fasilitas produksi SKT baru pada tahun 2024: 2 fasilitas milik Perseroan dan 5 fasilitas yang dimiliki dan dioperasikan oleh mitra produksi
Milestones sigaret (MPS) mampu menciptakan ribuan tenaga kerja baru dan efek berganda yang dapat dirasakan oleh masyarakat sekitar pabrik
Capaian Strategis
• Smoke-free products: expanded commercialization geographically and diversified the product portfolio into multi-category
smoke-free products
Produk bebas asap: ekspansi komersial secara geografis dan mendiversifikasi portofolio produk menjadi produk bebas asap multi-kategori
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A S I Z EA B L E F O OT P R I N T AC R O S S T H E VA LU E - C H A I N T H R O U G H CO N T I N U O U S I N V E S T M E N T I N I N D O N E S I A
J E J A K O P E R A S I O N A L YA N G S I G N I F I K A N D I S E L U R U H R A N TA I N I L A I M E L A L U I I N V E S TA S I B E R K E L A N J U TA N D I
INDONESIA
OWNED FACILITIES FACILITIES OWNED AND OPERATED BY THIRD PARTY OPERATORS (TPOs)
FASILITAS PRODUKSI YANG DIMILIKI PERSEROAN FASILITAS PRODUKSI YANG DIMILIKI DAN DIOPERASIKAN OLEH MITRA PRODUKSI
SIGARET (MPS)
6 Hand-rolled Kretek Cigarette (SKT)
Sigaret Kretek Tangan (SKT)
43 inbekerja
partnership with local entrepreneurs and/or cooperatives across Java
sama dengan pengusaha lokal dan/atau koperasi di Pulau Jawa
2 Machine-made Kretek Cigarette (SKM)
Sigaret Kretek Mesin (SKM)
1 Smoke-free products facility and R&D laboratory
Produk Bebas Asap dan Laboratorium Riset & Pengembangan
Total workforce (direct* and indirect) >90,000 Total Investment since 2005 ~USD 6.4
Total tenaga kerja Perseroan (langsung* dan tidak langsung) Total Investasi sejak 2005 billion | milyar
*Note: direct employees 20,382 (PT HM Sampoerna Tbk. Financial Statements 2024) | pegawai tetap 20.382 (Laporan Keuangan PT HM Sampoerna Tbk. 2024) 5
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W E A R E R E C O G N I Z E D T H R O U G H A WA R D S A N D C E R T I F I C AT I O N S
KAMI DIAKUI MELALUI PENGHARGAAN DAN SERTIFIKASI
Corporate Performance People and Culture Environment MSME Empowerment
Kinerja Perusahaan Karyawan dan budaya Lingkungan Pemberdayaan UMKM
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C R E AT I N G S U S TA I N A B L E VA L U E F O R A L L S TA K E H O L D E R S
M E N C I P TA K A N N I L A I B E R K E L A N J U TA N B A G I S E M U A P E M A N G K U K E P E N T I N G A N
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FOSTERING ENTREPRENEURSHIP AND SMALL BUSINESS DEVELOPMENT
MENDORONG KEWIRAUSAHAAN DAN PENGEMBANGAN USAHA KECIL
Two flagship programs have supported | Dua program unggulan telah mendukung
nearly | hampir 350,000 Micro, Small and Medium Enterprises (MSMEs) | Usaha Mikro, Kecil, Menengah (UMKM)
Penerimaan yang lebih
tinggi dari produk UMKM
yang dijual Pojok Lokal SRC
vs. Toko non-SRC.
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K E Y P E R F O R M A N C E M AT R I X 2 0 2 4
K I N E R J A U TA M A 2 0 2 4
VOLUME SHARE OF MARKET SMOKE-FREE PRODUCTS
VOLUME PA N G S A PA S A R PRODUK BEBAS ASAP
Volume HTU1) UJC2) Share of Market
HTU1) Volume Pangsa Pasar UJC2)
80.8 27.4% 1.2 5.3%
Billion Units | Milyar Unit Billion Units
Milyar Unit
NET REVENUES N E T O P E R AT I N G I N C O M E NET PROFIT
PENJUALAN BERSIH LABA OPERASI LABA BERSIH
117.9 7.7 6.6
IDR Trillion | Rp Triliun IDR Trillion | Rp Triliun IDR Trillion | Rp Triliun
1) HTU stands for Heated-Tobacco Units | HTU merupakan singkatan dari Heated Tobacco Unit atau Unit Tembakau yang Dipanaskan
2) UJC stands for Urban Jakarta City that represents West, Central and South Jakarta which include an estimated 1.5 million Legal Age Nicotine Users | UJC merupakan singkatan dari Perkotaan Jakarta mewakili Jakarta Barat,
Pusat, dan Selatan yang secara total mencakup sekitar 1,5 juta pengguna nikotin dewasa 9
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EXTERNAL ENVIRONMENT AND MARKET DYNAMICS
FA K T O R E K S T E R N A L D A N D I N A M I K A PA S A R
Indonesia’s economy growth at 5% was overshadowed by weakening purchasing power, which directly impacted the tobacco industry.
Adding to the industry’s challenges are: (1) double-digit excise tax increases outpaced inflation; (2) a widening excise tax gap between
Volume Tier 1 and Below Volume Tier 1 segments, leading to downtrading; and (3) an alarming increase in illicit cigarette sales.
Pertumbuhan ekonomi Indonesia sebesar 5% dibayangi dengan tekanan daya beli masyarakat yang secara langsung berpengaruh pada industri tembakau.
Ditambah lagi dengan (1) kenaikan pajak cukai dua digit yang secara signifikan melampaui tingkat inflasi; (2) kesenjangan tarif cukai yang melebar antara
segmen Golongan 1 dan Di Bawah Golongan 1 menyebabkan downtrading; dan (3) peningkatan yang mengkhawatirkan dalam penjualan rokok ilegal.
Excise Tax Increase vs. Inflation Widening excise tax gap, led to accelerating growth of BV1 segment Growth of Illicit Cigarette
Kenaikan Tarif Cukai vs. Inflasi Kesenjangan tarif cuka yang melebar menyebabkan akselerasi pertumbuhan Pertumbuhan Rokok Ilegal
segmen Di Bawah Golongan 1
Excise Tax Rate – SKM (IDR/stick)
17% Tarif Cukai – SKM (Rp per batang) 1,231 V1
Inflation 6.9%
Excise Tax Increase*
485
5.5%
11% 740 746 BV1 4.9%
285
455
44%
7% 41%
4% 25%
3% BV1 Share of Market
3% Pangsa Pasar Segmen
Di-Bawah Golongan 1
2017-2019 2020-2022 2023-2024 2020 2021 2022 2023 2024 2020 2022 2023
Pre-Pandemic Pandemic Latest Period
Note: *excise tax increase reflects the estimated weighted average industry figure. Figures reflect average of the period
Source: Central Bureau of Statistics for Inflation, Source: Ministry of Finance Regulations on Tobacco Excise Tax Rate , Internal estimates, CNBC Indonesia, Rokok Ilegal Masih Menghantui RI (23 December 2023) 10
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K E Y S T R AT E G Y T O D R I V E G R O W T H
S T R AT E G I U TA M A U N T U K M E N D U K U N G P E R T U M B U H A N
Capitalizing on the fundamental strength of Sampoerna’s brand portfolio and the long-term potential of our business to navigate the
evolving industry landscape, our strategy centered on three major strategic pillars:
Dengan memanfaatkan kekuatan fundamental portofolio merek Sampoerna dan potensi jangka panjang bisnis Perseroan untuk memahami peta perindustrian
yang terus berkembang, strategi kami dipusatkan pada tiga pilar strategis utama:
1 Accelerating and building a sustainable multicategory growth model, anchored by the smoke-free products portfolio
Mempercepat dan membangun model pertumbuhan multi-kategori yang berkelanjutan, yang didukung oleh portfolio produk bebas asap
2 Maintaining market leadership in the combustible cigarettes
Mempertahankan kepemimpinan pasar dalam rokok konvensional
Creating sustainable value for a broad range of stakeholders, from our employees and local farming communities to the
3
micro, small, and medium enterprises (MSMEs) that contribute so significantly to Indonesia’s economy
Menciptakan nilai yang berkelanjutan bagi berbagai pemangku kepentingan, mulai dari karyawan dan komunitas pertanian lokal hingga
usaha mikro, kecil, dan menengah (UMKM) yang berkontribusi sangat signifikan terhadap perekonomian Indonesia
Source: Company Financials. Total may not foot due to rounding
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2024:A LANDMARK YEAR FOR SMOKE-FREE PRODUCT
TA H U N B E R S E J A R A H B A G I P R O D U K B E B A S A S A P
We expanded commercialization to targeted areas to 20 cities, building on the foundation established with the IQOS Club platform in 2019.
With continuous innovation, we are growing our portfolio of smoke-free products, providing a range of better choices to satisfy the diverse
tastes, usage, technology, and price preferences of every adult smoker. Our smoke-free products portfolio includes heat not-burn products,
e-vapor initially launched with limited distribution, and oral smokeless products with exclusive distribution areas.
Ekspansi komersial ke berbagai area sasaran menjadi total 20 kota, dari sebelumnya hanya ruang lingkup terbatas untuk IQOS Club sejak tahun 2019. Dengan
inovasi berkelanjutan, kami mengembangkan portofolio produk bebas asap, memberikan beragam pilihan yang lebih baik untuk memenuhi preferensi rasa,
penggunaan, teknologi, dan harga bagi setiap perokok dewasa. Portofolio bebas asap kami saat ini mencakup produk heat-not-burn, e-vapor yang berawal
dengan peluncuran distribusi terbatas, dan produk bebas asap berbasis oral dengan distribusi eksklusif.
E-VAPOR
HEAT-NOT-BURN (HnB) ROKOK ELEKTRIK CAIR
A closed pod e-vapor products introduced initially in a
limited distribution in late 2024, offering two types of
products with six flavors.
A lower-priced HnB offering with its tobacco stick Produk e-cigarette sistem tertutup yang diperkenalkan pada
BLEND available in four variants. Introduced in akhir tahun 2024, dengan distribusi terbatas, dan dalam dua
Q4’2024 in a limited distribution exclusively in tipe produk dengan enam varian rasa.
Bandung West Java.
Produk HnB dengan harga lebih terjangkau beserta
stik tembakau BLENDS tersedia dalam empat varian. ORAL SMOKELESS
New Variants in 2024 | Varian Baru 2024 Diperkenalkan pada kuartal 4 2024 dengan distribusi PRODUK BEBAS ASAP BERBASIS ORAL
terbatas eksklusif di Bandung, Jawa Barat
TEREA Clove 5 variants | varian
TEREA Boost 2 variants | varian
The first heated tobacco product in South East Asia to use capsule
Produk heated-tobacco pertama di kawasan Asia Tenggara yang menggunakan kapsul. Introduced in Q4’2024 in an exclusive distribution in Bali
offering five flavors in two different packaging sizes.
Diperkenalkan pada kuartal 4 2024, dengan distribusi eksklusif
di Bali dengan lima varian rasa dalam dua ukuran kemasan
These material are not intended for marketing or commercial communication 12
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2024:A LANDMARK YEAR FOR SMOKE-FREE PRODUCT
TA H U N B E R S E J A R A H B A G I P R O D U K B E B A S A S A P
IQOS continued its strong underlying momentum, with excellent growth, surpassing 200,000 legal-age users, doubling total heated tobacco
unit sales from previous year to 1.2 billion, and with key city market share in Urban Jakarta grew to over 5% by the fourth quarter.
Melanjutkan momentum pertumbuhannya, IQOS, dengan pertumbuhan luar biasa, mencapai lebih dari 200.000 pengguna dewasa, menggandakan total
penjualan unit heated-tobacco dari tahun sebelumnya menjadi 1,2 miliar, serta pada kuartal keempat mencapai pangsa pasar lebih dari 5% di Perkotaan Jakarta
Share of Market in Urban Jakarta
Pangsa Pasar di Perkotaan Jakarta
5.3% >200,000
5.1%
4.5% IQOS legal age users
3.5% Pengguna dewasa IQOS
3.3% 3.4%
2.7%
1.8%
1.2 billion units | milyar unit
Heated Tobacco Unit in 2024
Unit Tembakau yang Dipanaskan
pada tahun 2024
Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4
2023 2024
Source: Company estimates. Note: Urban Jakarta represents West, Central and South Jakarta which include an estimated 1.5 million Legal Age Nicotine Users
Catatan: Perkotaan Jakarta mewakili Jakarta Barat, Pusat, dan Selatan yang secara total mencakup sekitar 1,5 juta pengguna nikotin dewasa
These material are not intended for marketing or commercial communication 13
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I N V E S T M E N T I N S M O K E - F R E E P R O D U C T S FA C I L I T I E S
I N V E S TA S I PA D A FA S I L I TA S P R O D U K B E B A S A S A P
INVESTMENT R&D CENTER SMOKE-FREE PRODUCTS EXPORT
I N V E S TA S I P U S AT R & D EKSPOR PRODUK BEBAS ASAP
Total investment in smoke-free products facilities Number of Indonesian scientists and
Total investasi pada fasilitas produksi produk bebas asap
product development experts
25% Contribution of total export value*
Kontribusi dari total nilai ekspor*
330 >200 Export Markets
USD Million| USD Juta Jumlah ilmuwan dan ahli pengembangan
produk asal Indonesia 15 Pasar Ekspor
*total export value together with parent company PMID | total nilai ekspor bersama dengan Perusahaan induk PMID 14
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LEADERSHIP IN THE COMBUSTIBLE CIGARETTES
K E P E M I M P I N A N PA D A PA S A R R O KO K KO N V E N S I O N A L
Offering a wide brand portfolio to serves diverse adult smokers’ preferences across flavor and price segments, with each innovation
leveraging the strong equity of Sampoerna’s brands. In 2024, the Company introduced a series of new hand-rolled kretek (SKT) products
including the SKT new taste dimension. Within the cigarette category, the Company remains the market leader in the SKT, machine-made
Kretek Low Tar and machine-made White (SPM), while retained its presence in the machine-made kretek High Tar category
Perseroan menawarkan portfolio yang luas untuk memenuhi berbagai preferensi perokok dewasa dalam hal rasa dan segmen harga, dengan setiap inovasi
memanfaatkan ekuitas merek Sampoerna. Sepanjang tahun 2024, Perseroan meluncurkan beberapa produk SKT baru termasuk dalam SKT new taste dimension.
Perseroan terus memimpin pada kategori SKT, Sigaret Kretek Mesin Tar Rendah dan Sigaret Putih Mesin (SPM), sementara mempertahankan kehadirannya pada
kategori Sigaret Kretek Mesin Tar Tinggi
21+ 21+
These material are not intended for marketing or commercial communication 15
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F O C U S O N E C O N O M I C R E S I L I E N C E A N D J O B C R E AT I O N
F O K U S PA D A K E TA H A N A N E KO N O M I S E R TA P E N C I P TA A N L A PA N G A N K E R J A
The Company opened 7 new SKT facilities, including 2 owned in Blitar (East Java) and Tegal (Central Java) with the remainder established in
collaboration with local cooperatives and entrepreneurs across Java. Our presence underpins local economies, in addition to the multiplier
effect we have for hundreds of thousands of indirect workers.
Perseroan membuka 7 fasilitas SKT baru, termasuk 2 yang dimiliki Perseroan di Blitar (Jawa Timur) dan Tegal (Jawa Tengah), sementara sisanya merupakan
kolaborasi dengan koperasi dan pengusaha lokal di pulau Jawa. Keberadaan kami menopang perekonomian lokal, disamping efek berganda yang kami ciptakan
bagi ratusan ribu pekerja tidak langsung.
New SKT Facilities
Fasilitas SKT Baru
2 Owned SKT Facilities
Fasilitas SKT yang dimiliki Perseroan
5 Owned & operated by Third Party Operators (TPOs) in partnership
with Local Cooperatives and Entrepreneurs
dimiliki & dioperasikan oleh mitra produksi sigaret (MPS) berkolaborasi
dengan koperasi dan pengusaha lokal
of total workforce is involved in SKT
90% dari total tenaga kerja terlibat dalam kategori SKT
Total workforce (direct and indirect) >90,000
Total tenaga kerja (langsung dan tidak langsung)
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SAMPOERNA BUSINESS PERFORMANCE
KINERJA BISNIS SAMPOERNA
Sampoerna maintained leadership position in the Indonesian tobacco industry with a 27.4% in 2024. While combustible cigarettes business
faced pressure from the downtrading phenomenon, the smoke-free products business achieved remarkable success. Despite a
17.3% decrease, net profit stood at IDR6.6 trillion, demonstrating the Company’s resilience and strategic focus.
Sampoerna mempertahankan posisi kepemimpinannya dalam industri tembakau di Indonesia dengan pangsa pasar sebesar 27,4% pada tahun 2024. Walaupun
bisnis rokok konvensional menghadapi tekanan dari fenomena downtrading, bisnis produk bebas asap mencapai kesuksesan luar biasa. Meskipun mengalami
penurunan 17,3%, laba bersih mencapai Rp6,6 triliun, yang menunjukkan kemampuan bertahan dan fokus strategis Perseroan.
Sampoerna Key Financials | Indikator Keuangan Utama Sampoerna
Variance 2024 vs. 2023
In IDR trillion, unless otherwise stated Full Year 2024 Dalam Rp triliun kecuali dicantumkan lainnya
Perubahan 2024 vs. 2023
Volume (in bio. sticks) 80.8 (3.7%) Volume (dalam miliar unit)
Combustible Cigarettes 79.6 (4.5%) Rokok Konvensional
Smoke-free Products Heated Tobacco Unit 1.2 +100% Produk Bebas Asap Heated Tobacco Unit
Net Revenues 117.9 1.6% Penjualan Bersih
Gross Profit 18.5 (4.1%) Laba Kotor
Net Operating Income 7.7 (14.1) Laba Operasi
Net Profit 6.6 (17.3%) Laba Bersih
Source: Company Financials. Total may not foot due to rounding
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W E H AV E CO N T I N U E D TO D E L I V E R S H A R E H O L D E R R E T U R N S T H R O U G H D I V I D E N D S
K A M I T E R U S M E M B E R I K A N P E N G E M B A L I A N PA D A P E M E G A N G S A H A M M E L A LU I D I V I D E N
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Annual General Meeting of Shareholders
Rapat Umum Pemegang Saham Tahunan
Jakarta, 27 May 2025
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Paul Janelle
· President Commissioner
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Ministry of Finance Regulations
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