PT Gudang Garam Tbk, Indonesia’s largest tobacco company known for its kretek (clove cigarette) products, wasn’t just a big player in the domestic market—it also made the 2025 Global 500 Family Business Index list at rank 258, with revenue of US$ 7.82 billion and around 28,000 employees That gives you a glimpse into how significant a family-run business it is! PT Gudang Garam Tbk recorded revenue of about IDR 98.655 trillion in FY 2024, down 17 % from around IDR 119 trillion in 2023 Its cost of revenue in 2024 was approximately IDR 89.276 trillion, resulting in a gross profit of IDR 9.380 trillion Operating expenses (mostly SG&A plus other operating expenses) came to around IDR 7.509 trillion, yielding an operating income of IDR 1.871 trillion Then, interest expenses and exchange items dragged pretax income down to about IDR 1.401 trillion
Tax expenses of IDR 419.75 billion left net income at IDR 980.805 billion, a steep fall (−81.6 %) from 2023’s net income of IDR 5.325 trillion
In USD terms, gross profit for 2024 translates to roughly USD 581.54 million (−34.6 % YoY) ¥
Margins: gross margin dropped to 9.51 %, operating margin to 1.90 %, and net profit margin plunged to just 0.99 %
Free cash flow? Still healthy: IDR 3.342 trillion in FY 2024 (FCF margin ~ 3.39 %)
Also, broader historical context: in 2019 revenue was around IDR 110 trillion, net income IDR 10.9 trillion, assets IDR 78.6 trillion, equity IDR 50.9 trillion, employees ~32,491
assets 84.94 T; current assets 47.59 T; non-current 61.92 T; liabilities 23.02 T (current 20.82 T, noncurrent 2.20 T); equity 61.92 T; retained earnings 60.73 T; other equity 1.18 T; equity grew 1.7 % (~ 1.05 T) with net profit 980.8 B; dividend 962 B (98 % of net income); segments: cigarettes, paperboards, infrastructure, others (trading, safety equipment, investment, construction); revenue 98.66 T; cost of revenue 89.28 T; gross profit 9.38 T; operating expenses 7.51 T; EBIT ~1.87 T; interest coverage 2.8x; debt 8.84 T; D/E ~14.3 %; cash 3.70 T.