Cisarua Mountain Dairy, trading as CMRY, has closed 2025 with an impressive financial flourish, reporting robust full-year net profit growth that perfectly aligned with market expectations. The Indonesian consumer staple powerhouse demonstrated strong resilience and strategic execution, navigating a dynamic economic landscape to deliver significant shareholder value.
Full-Year Financial Highlights: A Robust Performance
Net Profit Soars, Meets Consensus
CMRY’s full-year net profit for 2025 reached approximately IDR 2 Trillion, marking a substantial 34% Year-over-Year (YoY) increase. This exceptional bottom-line performance precisely matched the consensus 2025 forecasts, underscoring the company’s predictable growth trajectory and effective operational management.
In the final quarter of 2025 (4Q25), the company reported a net profit of IDR 432 Billion, a solid 19% YoY rise. While this figure represented a 29% Quarter-over-Quarter (QoQ) decrease, the annual growth cemented the strong underlying momentum throughout the year.
Revenue Growth Across Key Segments
The 4Q25 net profit growth was primarily bolstered by a significant 19% YoY surge in revenue. This top-line expansion was broad-based, with both key segments contributing double-digit growth:
- Dairy Products: Witnessed a healthy 14% YoY increase.
- Consumer Foods: Led the charge with an impressive 24% YoY growth.
This balanced growth across its product portfolio highlights CMRY’s successful market penetration and consumer appeal.
Navigating Margins: A Closer Look at Operational Efficiency
Gross Margin Dynamics: Costs vs. Sales Power
Despite robust revenue growth, CMRY faced headwinds from rising input costs. Raw material and packaging expenses for 4Q25 dramatically jumped 54% YoY. Consequently, the gross profit margin (GPM) in 4Q25 slightly tapered to 44.9%, compared to 46% in 4Q24.
However, the full-year picture painted a more stable portrait. CMRY maintained its gross profit margin at a solid 45.3% for 2025, a marginal improvement from 45.2% in 2024. This stability aligns perfectly with the company’s upwardly revised guidance of 44-46%, demonstrating effective cost management despite inflationary pressures.
Operating Profit: The Engine of Growth
Crucially, CMRY’s operational leverage shone brightly. Operating expenses (Opex) remained relatively flat YoY in 4Q25. This disciplined cost control, combined with strong revenue, allowed operating profit to skyrocket by 59% YoY in 4Q25. This significant leap in operating profit underscores the company’s ability to translate top-line growth into substantial earnings before interest and taxes, signaling strong underlying business health.
Investor Outlook: CMRY’s Strong Trajectory Continues
CMRY’s 2025 financial results paint a compelling picture for investors. The company’s ability to consistently deliver strong net profit growth, meet market expectations, and strategically manage margins amid fluctuating costs underscores its leadership position in Indonesia’s consumer staples sector. With a balanced growth strategy across its core segments and a keen eye on operational efficiency, CMRY continues to build a strong foundation for future value creation.