Japfa reverses into earnings of US$113.6 million for FY2024 ended Dec 31, 2024, a turnaround from the loss it made in FY2023 of US$30.8 million. 

 

The group&rsquo s 2HFY2024 earnings came in 172% y-o-y higher at US$61.9 million.

 

Earnings per share for FY2024 came in at 5.67 cents per share. 

 

For FY2024, Japfa recorded a revenue of US$4.62 billion, up 4% y-o-y. For 2HFY2024, revenue saw a 2% increase to US$2.37 billion.

 

The agri-food company says that this was driven by Japfa Tbk and Animal Protein Other (APO)-Vietnam. In Japfa Tbk, performance improved compared to a year ago due to stable poultry prices throughout the year, resulting in consistent performances across all four quarters. 

 

Feed remains a pillar of profitability, with fairly stable margins y-o-y. Breeding and commercial

farming operations reported a profit in FY2024 driven by higher sales volumes and prices for

both DOC and broiler, as well as lower feed costs. Commercial farming has returned to profit in

FY2024 after recording losses over the last 3 years.

 

For APO segment, it managed to record profitability compared to losses on the back of higher selling prices and volumes.

 

APO-Vietnam saw feed margins improve y-o-y due to lower raw material costs. Swine and poultry operations recorded a turnaround in operating profit in FY2024 due to a higher swine fattening prices, Japfa&rsquo s breeding pyramid which provides us a steady supply of livestock, and lower costs.

 

Its activities in Myanmar and Bangladesh continued to record losses due to instability in those countries &mdash they recorded an accounting impairment loss of fixed assets worth US$8.5 million in FY2024. 

 

In January, the Santosa family which controls agri-food company Japfa is making an offer of 62 cents per share to privatise the company. 

 

The offer is made to public shareholders who hold 18.33% of the shares.

 

Japfa has proposed a final dividend of 1 cent per share for FY2024.