The Prospect

The outlook this year for Mayora looks promising because some factors such as benign commodity prices, greater efficiencies from higher sales volume, and improved working capital turnover.

The company also to commencing operation of new plant in September 2009. Capital expenditure is modest at Rp 200 billion in full year 2009 compared to Rp 505 billion from the last year.

According to Danareksa research, net profit will grow 20% per annum over the next 5 years.

Previous 2009F New % Previous 2010F New %
Sales (Rp bn) 3.986 4.645 16.5 4.653 5.638 21.2
Gross Profit 914 1.034 13.2 1.075 1.237 15.1
Operating profit 371 426 14.8 436 505 16.0
Net profit 201 244 21.2 245 298 21.8
Source Danareksa Sekuritas

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The Profil of Company

Since first established in 1977, PT Mayora Indah Tbk has been one of Indonesia’s important food industries. As a result of the country’s growth in economy and the shift of social consumptive pattern towards more practical products, PT Mayora boasts a rapid growth over the years.

Today, PT Mayora Indah Tbk is divided into 6 business divisions:
1. Biscuit with brand products: Roma, Better, Slai O Lai, and Danisa
2. Candy: Kopiko, Kis, Tamarin, and Plonk
3. Wafer: Beng Beng, Astor, and Roma
4. Chocolate: Choki Choki, and Danisa
5. Health Food: Energen
6. Coffee: Torabika

To meet the ever increasing market demands, PT Mayora Indah Tbk went public through Initial Public Offering (IPO) in 1990. A successful move that is evident in the materialization of factories in Tangerang, Bekasi and Surabaya, which employ 5,300 workers.

Supported with strong and wide distribution networks, products of PT Mayora Indah Tbk are available throughout Indonesia and some overseas countries such as Malaysia, Thailand, Philippines, Vietnam, Singapore, Hong Kong, Saudi Arabia, Australia, Africa, America and Italy.

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Mayora Share..Good Result So Far

  One of a good stock is PT Mayora Indah (known as MYOR.JK).  Until first half 2009, the company booked net profit Rp 71.2 billion, up 70% from same period last year. This archievement was beaten expectations.


Sales surged 41% year on year and gross margin going up from 20.1% to 21.6% in first quartal 2008 and 20% from fourth quartal 2008.



Since then, the share moving up to Rp 2.900 (last traded on 9th October 2009) from Rp 1.130 on 5th Januari 2009. My predictions: this share could be reach Rp 4.000 at the end of this year.

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