HMSP Exploring Profit Opportunities in 2024

Despite facing a decline in cigarette sales volume, PT HM Sampoerna Tbk. succeeded in enhancing its revenue and profit performance throughout 2023. This achievement suggests that the company has significant potential to sustain its growth momentum in the current year.

Editorial Team

20 Mar 2024 - 17.01
HMSP Exploring Profit Opportunities in 2024

PT HM Sampoerna Tbk. (HMSP) has successfully invested $186 million, or approximately IDR 2.79 trillion, for the establishment of a smoke-free cigarette manufacturing facility.

Bisnis, JAKARTA — The cigarette company PT HM Sampoerna Tbk. (HMSP) still has the potential to enhance its business performance this year despite facing challenges such as rising excise rates and intensifying competition in the e-cigarette sector. Additionally, positive sentiment surrounding its financial performance and potential significant dividends could further boost its share value.
Despite ongoing challenges, HMSP managed to achieve a 4.29% increase in sales by the end of 2023, reaching IDR 115.9 trillion, up from IDR 111.2 trillion in 2022.
This growth in sales was primarily driven by domestic sales of machine-made kretek cigarettes amounting to IDR 68.9 trillion, hand-rolled kretek cigarettes IDR 35.9 trillion, machine-made white cigarettes IDR 8.06 trillion, hand-rolled white cigarettes IDR 999.6 billion, and other products IDR 1.04 trillion.
HMSP's sales are primarily driven by the domestic market, which accounted for a total of IDR 114.9 trillion in 2023. Conversely, sales to related parties of HMSP reached IDR 1 trillion during the same period.
The rise in revenue correspondingly raised HMSP's cost of goods sold, which escalated to IDR 96.6 trillion, marking a 2.76% increase compared to 2022 with IDR 94.05 trillion.
The increase in the cost of goods sold did not diminish HMSP's gross profit. HMSP achieved a gross profit of IDR 19.3 trillion in 2023, marking a continued growth of 12.66% compared to 2022, when it was IDR 17.15 trillion.

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In 2023, HMSP's net profit amounted to IDR 8.09 trillion, marking a 28.04% increase from the previous year's IDR 6.32 trillion.
Furthermore, HMSP's total assets stood at IDR 55.3 trillion in 2023, compared to IDR 54.7 trillion in 2022. Conversely, total liabilities decreased to IDR 25.4 trillion in 2023, down from IDR 26.6 trillion in 2022. Additionally, HMSP's equity rose from IDR 28.17 trillion in 2022 to IDR 29.8 trillion in 2023.

Cek Berita dan Artikel yang lain di Google News dan WA Channel
Editor: Emanuel Berkah Caesario

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HMSP Exploring Profit Opportunities in 2024

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