HONG KONG (Yosefardi) – First Pacific Company Limited, controlled by Salim Group, booked profit, attributable to owners of the parent, of US$81.0 million (HK$631.8 million) in 2014, decreased 65.6% from US$235.3 million (HK$1,835.3 million) in 2013.
Turnover increased by 13.9% to US$6,841.3 million (HK$53,362.1 million) from previous US$6,005.8 million (HK$46,845.2 million). Consumer food products contributed revenue of US$5,350.4 million and infrastructure segment contributed US$1,490.9 million.
By geographical market, Indonesia contributed revenue of US$4,896.3 million, Phillippines US$780.6 million, Singapore US$783.1 million, and others US$381.3 million.
During 2014, Indofood’s consolidated sales grew at a double‐digit rate, supported by existing and new business categories. During the year, Indofood launched more than 20 new products including bottled water, ready‐to‐drink coffee, and microwavable instant cake, as well as entering non‐food category, baby diapers.
Indofood’s contribution to the Group decreased 0.8% to US$158.4 million last year (2013: US$159.6 million) principally reflecting an 11% depreciation of the average rupiah exchange rate against the U.S. dollar, partly offset by higher core net income in rupiah terms.
First Pacific said in its 2014 annual report that Indofood’s strong sales growth in recent years is expected to continue in 2015, although margins will continue to face pressure from increasing competition in most market segments. Indofood will continue expanding its production capacities as it seeks further new investments, particularly by its Consumer Branded Products business.
As at 31 December 2014, Indofood recorded gross debt of Rp26.9 trillion (US$2.2 billion), down from Rp27.4 trillion
(US$2.2 billion) as at 31 December 2013. Of this total, 37% matures within one year and the remaining matures between 2016 and 2021, 48% was denominated in rupiah, 52% was denominated in foreign currencies.