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Page 1
PUBLIC
EXPOSE
PT Widodo Makmur Perkasa Tbk
(IDX: WMPP)
Page 2
Indonesian Market Outlook A brief about Livestock, Beef & Poultry Industry
Page 3
Attractive consumer goods and agricultural commodities sector dynamics with solid growth prospects
Selected food market consumption in Indonesia (2025 and 2030F)
Beef Poultry Egg Corn Rice
CAGR
1,8% CAGR 2025-2030F at constant price (%) 3,8 3,3 2,5 2,0 0,5
2030E Qty (Thousand Tons) 952 5.583 7.800 28.036 39.272
IDR 1.288
Trillion** Value (Trillion IDR)* 129 206 212 161 581
2025 Qty (Thousand Tons) 790 4.743 6.883 25.360 38.235
IDR 1.180
Trillion** Value (Trillion IDR) 107 175 187 146 565
*) The 2030F estimated value is the result of calculations using constant prices; **) Contains
beef, poultry, egg, Corn, and rice
• Indonesia’s food market consumption is projected to increase in 2025–2030 including the
Beef and poultry consumption in Indonesia is still lower than beef and poultry demand for beef and poultry, driven by population growth, a growing middle-income
consumption in Malaysia (2025) class, and the increasing role of beef and poultry as primary protein sources in a Muslim-
majority country.
FY 2025 - Consumption (kg/capita)
32,22 • Household consumption of beef and poultry per capita in Indonesia for 2025 are 1,63
35,00
kg/capita and 8,76 kg/capita (OECD-FAO), lower than selected Southeast Asian countries,
30,00
indicates significant growth potential.
25,00
20,00 16,95
• Indonesia’s per capita GDP is forecast to reach over $10,000 by 2030, up from the current
15,00 10,97
8,76 $5,083. This means that living standards will improve and the growth in animal protein
10,00
5,34 4,29 4,99 consumption will accelerate.
5,00 2,26 1,63 1,79
-
• According to the OECD-FAO, by 2034, the growth of meat consumption in Indonesia is
Malaysia Viet Nam Philippines Indonesia Thailand
projected to be one of the highest in the world.
Poultry Beef
Source: OECD-FAO
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Strong government support through Free Nutritious Meals (MBG) program
National Beef Supply and Demand
Indonesia Beef Supply and Demand 2023 –2029*
1.200.000
1.024.923 1.044.632 • National beef consumption from
986.170 1.005.436
1.000.000 863.704 2023 to 2029 is projected to increase.
746.770 760.198
800.000
590.000 590.000 590.000 590.000
503.507 488.959 485.655
600.000 • National beef production hasn’t met
400.000
the total national beef demand. The
200.000
deficit will be fulfilled through the
-
2023 2024 *2025 *2026 *2027 *2028 *2029
import of beef, both in the form of
Total Demand (ton/year) Production (ton/year) live cattle and frozen/chilled beef.
Commodity Balance of Beef
• There is potential for additional
Indicator 2023 2024 *2025 *2026 *2027 *2028 *2029
Total Population (people) 278.645.420 281.554.676 284.371.401 286.989.047 289.759.917 292.530.786 295.301.656 consumption from the Free Nutritious
Consumption (kg/capita/year) 2,68 2,70 2,72 2,77 2,81 2,85 2,89 Meals program around 90.000
Makan Bergizi Gratis (ton/year) - - 90.213 191.210 191.210 191.210 191.210
ton/year start from 2025 with a
Total Demand (ton/year) 746.770 760.198 863.704 986.170 1.005.436 1.024.923 1.044.632
potential contribution up to 20% to
Production (ton/year) 503.507 488.959 485.655 590.000 590.000 590.000 590.000
Surplus/Minus (ton/year) - 243.263 - 271.239 - 378.048 - 396.170 - 415.436 - 434.923 - 454.632 national consumption
Fulfillment (%) 67% 64% 56% 49% 48% 47% 46%
Surplus/Minus (%) -33% -36% -44% -51% -52% -53% -54%
*2025-2029 is a projected number Source: Badan Pusat Statistika 2025, diolah oleh IRMAR
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Strong government support through Free Nutritious Meals (MBG) program
National Broiler Chicken Meat Supply and Demand
Commodity Balance of Broiler Chicken Meat in Indonesia 2023 - *2029
5,64
• Demand for broiler chicken meat is
5,80
5,49
5,60 5,42 projected to continue increasing
5,26 5,26 5,32 5,28
5,40
5,13 until 2029, following growth of
5,20 4,99
5,00 population in Indonesia.
4,77
4,80
4,60
4,40
• There is additional consumption
4,20 from the Free Nutritious Meals
2025 *2026 *2027 *2028 *2029
program around 915 thousand
Total Demand (million ton/year) Production (million ton/year)
ton/year start from 2025 with
Commodity Balance of Broiler Chicken Meat
potential contribution up to 26% to
Indicator 2025 *2026 *2027 *2028 *2029
national consumption
Population (million People) 284 287 290 292 295
Consumption (kg/capita/year) 13,54 14,19 14,54 14,91 15,28
Regular Consumption (million ton/year) 3,85 4,07 4,21 4,36 4,50
MBG (thousand ton/year) 915 915 915 915 915
Total Demand (million ton/year) 4,77 4,99 5,13 5,28 5,42
Production (million ton/year) 5,26 5,26 5,32 5,49 5,64
Surplus/Minus (thousand ton/year) 493 273 195 215 225
Source: National Food Agency 2026, diolah oleh IRMAR
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Strong government support through Free Nutritious Meals (MBG) program
National Chicken Egg Supply Demand
Commodity Balance of Layer Chicken Egg in Indonesia 2023 - *2029
8,00 7,72
7,81 • Demand for chicken egg is
7,80 7,63
7,60 7,43 projected to continue increasing
7,34
7,23
7,40
7,03
7,14 until 2029.
7,20 6,94
7,00
6,84
6,80
6,60 • There is additional consumption
6,40
from the Free Nutritious Meals
6,20
2025 *2026 *2027 *2028 *2029 program around 417 thousand
Total Demand (million ton/year) Production (million ton/year) ton/year start from 2025 with a
potential contribution up to 9% to
Commodity Balance of Chicken Egg
Indicator 2025 *2026 *2027 *2028 *2029 national consumption.
Population (million People) 284 287 290 292 295
Consumption (kg/capita/year) 22,60 23,05 23,51 23,98 24,46
Regular Consumption (million ton/year) 6,42 6,61 6,81 7,01 7,21
MBG (thousand ton/year) 417,10 417,10 417,10 417,10 417,10
Total Demand (million ton/year) 6,84 7,03 7,23 7,43 7,63
Production (million ton/year) 6,94 7,14 7,34 7,72 7,81
Surplus/Minus (thousand ton/year) 103 113 113 293 183
Source: National Food Agency 2026, diolah oleh IRMAR
Page 7
Company Overview Business Lines In-Depth
Page 8
How Widodo Makmur Grew into a National Food Pillar
30 Years of Providing food for the Nation
PT Widodo
PT Cianjur Arta PT Langgeng Makmur Unggas
PT Pasir Tengah Pengembangan
Widodo Makmur Makmur Perkasa Tbk
fasilitas WMUU:
Makmur Ricemill Feedmill
Cattle Fattening Hatchery, PS & GPS
Cooperatives Tegal, West Balaraja, Kerjasama
Cianjur, West Java PT Pangan Makmur Breeding Farm,
Abattoir Java Banten Pengembangan Peresmian Sapi Gama
Perkasa Commercial Farm,
Cianjur, telur ayam cage sebagai Rumpun Sapi
Cattle Abattoir
West Java Commodity free Pedaging Baru oleh
Fattening Feedmill PT Widodofood PT Widodo West Java & East
Cileungsi, Java Kementerian Pertanian
Klaten, Central Cianjur, West Makmur Sejahtera Makmur
West Java
Java Java Unggas
1995 2006 2013 2014 2016 2017 2018-2020 2021 2023 2025
8
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Widodo Makmur Perkasa: A Vertically Integrated Business Built for Resilience and
Scale
Consumer goods and agricultural commodities holistic integrated business with self-sustaining principles
INTEGRATED INTEGRATED MEAT AGRICULTURAL ENGINEERING SERVICES
CATTLE FARM POULTRY FARM PROCESSING COMMODITIES TRADING
• Focusing on Cattle • Focusing on Abattoir • Focusing on Meat • Focusing on Internal • Focusing on Internal
Fattening Segment Processing Commodity Feed Facilities Construction
• Main Product : Live Cattle • Main Product : Chicken • Main Product : Beef Meat Material Supply • Renewable Energy
• Largest cattle farm with Carcass (Chicken Meat) • Biggest cattle abattoir
172,000 head/year • Biggest chicken abattoir with 300 head/day
capacity with 12,000 birds/hour capacity
capacity
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Achieving sustainability and efficiency supported by integrated business process from upstream to
downstream
Integrated Zero Waste Integrated Meat Raw Materials supplied from
Cattle Farming. Cattle Farm Processing Internal Cattle. Products
distributed through own brands
developed by group.
Engineering
Services &
Renewable
Energy
Supply of internal livestock feed raw Integrated
materials to the Integrated Cattle Commodity Poultry Integrated Downstream-
Farm and Poultry Farm through Farm focused Poultry Farming.
partnerships with local farmers.
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Supported By Proven Management And Experienced Senior Mentors
Board of Commissioners Board of Directors
Prof. Dr. Ir. Ali Agus, DAA., DEA., IPU., ASEAN.Eng Ir. Tumiyana M.B.A.
Chief Commissioner Chief Executive Officer
• Founder of Widodo Makmur Perkasa.
• Professor of Animal Science, in Gadjah Mada
• Formerly was CEO of two renown
University, Indonesia.
• More than 30 years of research & academic
SoEs in Indonesia, with more than 30
experience in Animal Nutrition and Feed years of experience in Indonesia SoE
Science. companies.
Giyono S.Pt, MM
Mayjen TNI (Purn) A.Z Siregar MSc. MSee
Director
Independent Commissioner
• More than 20 years of management
• More than 40 years of experience in
experience.
government institutions and has held
• More than 25 years of experience in
several strategic positions on a national
Widodo Makmur Perkasa.
scale.
Professional Advisors
Dr. drh. Kurnia Achyadi, MS.
• Member of the Expert Council of the
Indonesian Veterinary Medicine Association
(ASOHI).
• More than 30 years of research & experience
in Cattle Livestock & Animal Health
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High market accessibility through strong connectivity, wide distribution reach, existing facilities and
innovative strategy for new market penetration
JABODEBEK JAWA BARAT
EXTENSIVE NETWORK WITH PROMISING GROWTH POTENTIAL
SUMATERA BORNEO SULAWESI MALUKU & PAPUA
Head Office, Cilangkap GPS Breeding, Sukabumi
5 Provinces 3 Provinces 2 Provinces 2 Provinces Wismaya Apartment, Bekasi Cianjur Farm, Cianjur
50 Cities / Regencies 10 Cities / Regencies 3 Cities / Regencies 3 Cities / Regencies
Cariu Farm, Bogor RPH Cianjur, Cianjur
JAVA
6 Provinces WMS Warehouse, Cileungsi, Bogor PWM Factory, Cianjur
60 Cities / Regencies
CAM Warehouse, Cileungsi, Bogor
JAWA TENGAH BANTEN
Feed Mill, Balaraja,
Rice Mill, Tegal
Tangerang
Poultry Partnership, Sragen
Layer Sawit, Klaten
JAWA TIMUR
Joglo Tumiyono, Klaten
Feed Mill, Ngawi
Klaten Farm, Klaten
RPA Giritontro, Wonogiri
BALI & NUSA TENGGARA
3 Provinces
10 Cities / Regencies YOGYAKARTA
Student Castle Apartment,
Provinces Cities / Regencies Yogyakarta
Hatchery, Ngawen, Gunung
Kidul
Breeding, Tonggor, Gunung
Kidul
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Business Description – Integrated Cattle Farm
The largest cattle farm in Indonesia
Indonesia’s largest cattle farm ESG partnership with local farmers Australian-majority feeder stock
Capacity of 172,000 heads/year Healthy and supportive Majority of young cattle are
(Frost & Sullivan) environment for livestock and sourced from Australia, where small
PASIR TENGAH
surrounding community portion are sourced locally
1 Cattle Farm 2 Feedmill 3 Cross Breeding
130 ha 35 ha • Raw materials are locally grown and readily • In cooperation with UGM, WMP has been
Cianjur Farm Cariu Farm available developing ”SAPI GAMA”.
• Production capacity of 131,000 tonnes/year • This program focuses on premium breed cattle
• Supply are mainly sourced from Australia that is adaptive to the tropic, with double muscle
• Used mainly for internal consumption and small
• Revenue stream are from selling high quality live portion is distributed to the assisted plasma and tender meat.
cattle farmers.
• Supported by renewable energy of 250 KWp capacity
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Integrated Poultry Farm
Indonesia’s largest modern poultry abattoir, focused on downstream products
Biggest modern poultry abattoir in Indonesia Listed on the Indonesia Stock Exchange Focus on downstream products
WIDODO MAKMUR UNGGAS
With a capacity of 12,000 PT Widodo Makmur Unggas Tbk WMUU’s growth strategy will focus on
downstream products (carcass
heads/hour (Frost & Sullivan) (“WMUU”) has been listed since
segment), where competitors
February 2021
concentrate more on feed or live birds
1 Poultry Farm 2 Hatchery 3 Feedmill 4 Abattoir 5 Processed Meat Products
• GPS (West Java) – 16,000 DOC • Central Java - 2,000,000 • Banten capacity - 36.000 • Central Java – 12,000 • 4,600 tonnes of meat processed every
GPS; eggs/month. tonnes/year. heads/hour year into a variety of around 550
• PS (Central Java) - 220,000 DOC; Eq 79,380 products i.e.,
• Broiler Commercial (Central Java) tonnes/year ✔Sausage : 1,500 tonnes/year;
– 900,000 DOC FS; and • Cold storage – 6.000 ✔Meatball : 900 tonnes/year;
tonnes ✔Nugget : 700 tonnes/year; and
• Layer Commercial Farm: Central
Java* – 26,000 Layer FS eq – • Supported by ✔Chicken Parting: 1,500 tonnes/year.
9,360,000 eggs/year. – Cage Free Renewable Energy –
newly developed Installed 1.700 KWp
capacity
*) Under joint operation
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Meat Processing and Leather Manufacturing
Indonesia’s largest modern cattle abattoir, extending value into leather
Biggest modern cattle abattoir in Indonesia Own-brand nationwide distribution Diverse channels
CIANJUR ARTA MAKMUR
Operates at 300 heads/day (Frost Meat products are distributed The products are sold to supermarkets
& Sullivan) under own-brand across the nation and hospitality sector (e.g., hotels,
restaurants, and cafes)
1 Abattoir 2 Leather Factory
• West Java - 2,000,000 sq feet / year
• West Java - 300 heads/day.
• Supporting fashion, automotive,
• Imported frozen and chilled
fresh beef: upholstery, and aviation industries
• Supplying Lion Air Group seat covers –
Tenderloin steak
totaling 593,909 sq ft eq. 16.144 seat ;
Rib eye steak and Garuda Indonesia Group
Tomahawk steak
T-bone steak
Beef slices & beef cuts, etc.
• Supported by renewable
energy of 150 KWp capacity
Lion Air Super Air Jet Batik Air Wings Air
372,372 138,520 41,787 41,230
sq ft sq ft sq ft sq ft
Page 16
Business Description – Commodities Trading
Integral part of the business ecosystem to drive cost efficiency
WIDODOFOOD MAKMUR SEJAHTERA
Commodities traded Internal supply Cost efficiency
Engages in commodity trading of Captive raw material source for Reduces procurement costs across the
corn, sugar, and soybean group’s cattle and poultry feed group
1 Warehouse
1. Central Java – 3,000 mt; and
2. West Java - 5,000 mt.
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Engineering Services
In-house Construction and Renewable Energy Arm of Widodo Makmur Group
Infrastructure construction Renewable energy Fully captive model
LANGGENG MAKMUR PERKASA
Dedicated construction arm Design and install solar All current projects are in support of
supporting WMPP’s business lines, infrastructure across all group Widodo Makmur Group, ensuring cost
from cattle farms to processing facilities, as part of WMPP’s group- control and aligned execution
facilities wide sustainability initiative standards
1 In-house Projects 2 Renewable Energy
• Internal group CAPEX • Contracted to oversee the
delivery installation of the renewable energy
• Most construction infrastructure, including solar panels,
projects across group in all group facilities.
companies are • Current total installed capacity:
contracted to this 2.100 KWp and plan to increase to
subsidiary 5.720 KWp. Generate an efficiency
up to 30% compared to conventional
energy
Page 18
Financial Highlight 2025 Audited Consolidated
Page 19
Revenue
Consolidated Group Revenue Performance Revenue Contributor
7.000 2025 2024
6.235
6.000
2% 10%
5.000
4.290
4.000 22%
21%
3.000 3%
56%
2.000 73%
1011,9 13%
907
1.000 573
76,6%
yoy
0
2021 2022 2023 2024 2025
IDR Bn POULTRY CATTLE MEAT COMMODITY CONSTRUCTION
• Revenue in 2025 increase significantly by 76.6% yoy, driven by increase in sales of carcasses
and beef meat, egg and leather.
• Whereby 73% of revenue is contributed by poultry, followed by meat, and the remaining are
from cattle and commodity.
19
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+130.5%
Ebitda & Net Profit
Net Profit EBITDA
400 301 800 679
200 600
0 400
-200 2021 2022 2023 2024 2025 200 109% yoy
-29 18,1
-400 -317 -235 0
60,57%
-600 yoy -200 2021 2022 2023 2024 2025
-800 -596 -400 -203
-1000 -600
-881 -528
IDR bn IDR bn
• Net loss is booked at – IDR 235bn, improved from 2024 numbers by 60.57% yoy, showing Company’s effort to maintain
efficiency and improve profitability.
• EBITDA is recorded at positive IDR 18.1bn in 2025, a turn to positive number compared to the last 2 years.
Page 21
Asset & Equity
Total Assets Total Equity
7.000 3.000
6.070
6.000 5.656 2.500 2.418
5.007
5.000 4.540 2.097
4.661
2.000
4.000
1.500 1.218
3.000
2.000 1.000
693
502
1.000 500
0 0
2021 2022 2023 2024 2025 2021 2022 2023 2024 2025
IDR bn IDR bn
21
Page 22
Consolidated Financial Ratios
Current Ratio Ebitda Margin Ratio Gearing Ratio
0,62 0,05 0,02 7,00
0,61 6,12
0,61 0,00 6,00
2024 2025
-0,05
0,61 5,00 4,45
-0,10
0,60 4,00
-0,15
0,60 3,00
-0,20
0,59
0,59 -0,25 2,00
0,59 -0,30 1,00
-0,35
0,58 -0,35 0,00
2024 2025 -0,40 2024 2025
22
Page 23
Business Plan The Strategic Step Toward Business Sustainability
Page 24
Strategic Business Plan
1 OPERATION 2 FINANCE 3 MARKETING
Optimize poultry slaughterhouse
Drive cost efficiency through solar
(RPA) utilization to 12,000 birds per
energy adoption and other Build distribution channels to
hour
operational savings penetrate markets across multiple
regions
Scale layer farm population from
350,000 by 2026 to 1,000,000 birds
by 2028 Execute all obligations in accordance
with the restructuring plan
Capture greater market share
Accelerate cattle ADG growth to a
through targeted sales and brand
minimum of 1.6 kg per day
initiatives
Strengthen EBITDA to support
working capital requirements
Establish Gama Cattle as a premium
high-quality breeding stock
Launch product innovations and
Divest non-productive assets to variations to meet evolving
Expand feedlot operations into
optimize capital allocation consumer demand
targeted new areas (West Java,
Central Java, East Java, & IKN)
Page 25
THANK YOU Head Office : Gedung Graha Widodo Makmur Jalan Raya Cilangkap No. 58, Jakarta Timur 13870 Telp. (62 21) 8430 6787 / 88 Faks. (62 21) 8430 6790 / 91
Names mentioned 16 people and organisations named in the text · linked when the evidence is strong
unresolved
org
Pusat Statistika
p.4
unresolved
org
PT Widodo
p.8 ×2
unresolved
org
PT Cianjur Arta
p.8
unresolved
org
PT Pasir Tengah
p.8
unresolved
org
PT Pangan Makmur
p.8
unresolved
org
PT Widodofood
p.8
unresolved
org
Kementerian Pertanian Klaten
p.8
unresolved
person
Prof. Dr. Ir. Ali Agus
p.11
unresolved
person
Executive
· Commissioner
p.11
unresolved
org
Indonesia Stock Exchange
p.14
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