Healthcare: 2Q25 Preview: Defensive Profile Intact Despite Growth Normalization
We also expect Pharma’s 1H25 earnings to be in-line with 54% run-rate, with KLBF’s intact cost-efficiency, potential quarterly rebound in SIDO.
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Consumer: 4Q24 Earnings Outlook: ICBP and INDF to Be Robust, SIDO Eyes Upside
We estimate that the Indofood group still reported strong net profit in FY24, while SIDO may exceed consensus expectations.
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Consumer: FY25 Outlook: Growth Drivers from Supported Purchasing Power and Strategic Pricing
We expect higher minimum wages in FY25 and a positive impact from purchasing power and govt’s meal program to create more jobs.
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Kalbe Farma - Healthy FY25 Growth Outlook Intact Despite ST Rupiah Headwinds
Solid prescription revenue and operating efficiency drove strong 9M24 net and core profit growth of 15.2%/10% yoy. We estimate healthy FY25 net...
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Consumer: Sustained Solid Core Profit Growth on Stable Margins, in Line with Our and Consensus
We estimate 3Q24/9M24 sector revenue growth of +2.6%/+4% yoy and 9M24 operating profit of +7% yoy, in line with our and cons. est.
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