JPFA.IJ - In Line but Beat Consensus; Solid 4Q24 Driven by Robust Livebird Segment
JPFA booked a net profit of Rp923bn in 4Q24, bringing FY24 net profit to Rp3.0tr, in line with our estimate but above consensus (110%).
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Macro Strategy: 2026: Reassessing the Investment Cycle
Manufacturing-led FDI now anchors investment growth, lifting GFCF and widening regional benefit with Ex-Java areas benefiting the most.
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Poultry: Mutant Chickens in Modern Cikande? Investigating the Impact of Cesium-137 Contamination
News revealed CPIN is among the names affected in Cs-137 contamination. JPFA and MAIN have feedmill plants in the same estate.
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Macro Strategy: 2026: The Dual Levers
Indonesia’s growth is driven by steady consumption and increasingly important investment, both forming dual engine for growth expansion.
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Macro Strategy: Growth Over Differentials
Indonesia’s economy maintained solid momentum in 3Q25, recording 5.04% y-y (1.43% q-q) growth, although slightly easing from 2Q25’s 5.12%.
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