Tuesday, 30 April 2019

Garudafood's First GMS Reports the Company's Performance in Fiscal Year 2018

Jakarta, 30 April 2019 – PT Garudafood Putra Putri Jaya Tbk (“Garudafood”) with the stock code “GOOD” held its Annual General Meeting of Shareholders (AGMS) which was followed by an Extraordinary General Meeting of Shareholders (EGMS) at the Garudafood Head Office and closed with its first Annual Public Expose after its IPO in October 2018. One of the agenda items in the Garudafood AGMS was the dividends (Rp.28 per share) which will be paid in May 2018. In addition, the Company also recorded a growth of 7.6% or Rp 568 billion. Sales contribution in 2018 was dominated by the food segment, i.e. 85.12%, and was geographically sourced from the domestic market, i.e. 93.95%.

“In 2018, we were able to achieve a growth of approximately 7.6%. In addition to that, net profit before adjusting the merging entity profits also grew by 19.01% or Rp. 68 billion reaching Rp. 425.48 billion. From this amount, the attributable profit for the parent company was Rp 404.93 billion, which was an increase from the previous year. The earnings per share also grew by 10.03% to Rp 56.79 per share,” said Paulus Tedjosutikno, Director of Garudafood at Hotel Arosa-Jakarta (30/4).

In addition, the Company's Total Assets grew by 18.19%, or Rp 648 billion in 2018. Total Liabilities decreased by -25.25% or - Rp 582 billion compared to last year. Total Equity grew by 97.7% or Rp 1,230 billion. The Company successfully achieved a number of financial ratios in 2018, namely Current Ratio (1.18); Debt-to-Equity Ratio (0.21); Debt Service Coverage Ratio (8.84), and Debt-to-Ebitda Ratio (0.61).

The total revenue from the initial public offering after deducting the costs was Rp 37.33 billion, which was fully used as additional business capital and for the development of the Company.

Garudafood currently operates 4 (four) production facilities distributed across Java, namely in 1 (one) facility in Rancaekek, West Java; 2 (two) facilities in Pati, Central Java; and 1 (one) facility in Gresik, East Java. The average utilization reached 70% of the total capacity to support the Company's production. All of the Company's production facilities have obtained Halal certificates, ISO 22000: Food Safety Management System, and SNI (Indonesian National Standard) certificate for all its Biscuit products.

"The company consistently continues to develop innovative products, as indicated by the products we launched earlier this year, such as Clevo, chocolate ice cream flavored milk drink, Gery Malkist Wheat, Gery Saluut Malkist Chocolate sprinkled with Coconut. In addition, we are also developing new marketing methods through collaboration with an e-co

At the same time, Garudafood also held an EGMS which approved the amendment to the Articles of Association and approved the hiring of 2 additional Commissioners (from 3 to 5 Commissioners) to increase the supervision of the Company's Board of Director's performance.

Therefore, the composition of the Company's management after the Meeting is as follows:

  1. President Commissioner: Sudhamek Agoeng Waspodo Soenjoto
  2. Commissioner: Hartono Atmadja
  3. Independent Commissioner: Dorodjatun Kuntjoro-Jakti
  4. Commissioner: Atiff Ibrahim Gill
  5. Independent Commissioner: Guy-Pierre Girin


  1. President Director: Hardianto Atmadja
  2. Director: Robert Chandrakelana Adjie
  3. Director: Johannes Setiadharma
  4. Director: Paulus Tedjosutikno
  5. Director: Fransiskus Johny Soegiarto
  6. Independent Director: Rudy Brigianto