Publicly listed food company PT Mayora Indah Tbk was optimistic that the company’s performance would continue to grow this year despite challenges from the ongoing COVID-19 pandemic.
Mayora’s General Director of Operations, Wardhana Atmadja, said the company has allocated Capex of IDR2 trillion in 2022 to develop its factories for wafers and biscuits.
Corporate Secretary Yuni Gunawan added that the funds would come both from the company and from loans.
From April 2021-April 2022, Mayora recorded an increase in sales from IDR9,764 billion in 2021 to IDR 10,368 billion in 2022. Its gross profit, however, declined by 22% from IDR2,860 billion in 2021 to IDR 2,232 billion in 2022. While its net profit also decreased by 44.2% from IDR807 billion in 2021 to IDR450 billion in 2022.
Just like many other businesses, Mayora has faced several obstacles in 2021, especially in worsening global economic situation due to the spread of new variants of COVID-19. This factor hampered the world economy recovery.
In addition, business competition has become tighter with the emergence of local producers and the flooding of imported food products. Supply instability and rising raw material prices added to the tough situation.
However, Gunawan was upbeat that gradual returning of public activities would help Mayora to perform better.
Director of Global Marketing, Ricky Afrianto, believed that the company’s products would be easily available in various segments.
“Don’t forget that Kopiko coffee candy contains real coffee. This is an opportunity for us that our coffee candy can be enjoyed anytime,” he said, citing its flagship product.
Kopiko stole the world’s attention after Tescla and SpaceX founder Elon Musk was captured holding a package of the coffee candy at his office during his meeting with Indonesian Coordinating Maritime Affairs and Investment Minister Luhut Pandjaitan.
Apart from Kopiko, Mayora – which was founded on February 17, 1977 – also produces biscuits known across Indonesia such as Energen, Malkist and Beng Beng.