Financial Performance Measurement and Analysis of PT. Indofood Sukses Makmur Tbk. before and during the COVID-19 Pandemic in Indonesia

Yoshuara, Hans Hanpin and Sembel, Roy and Malau, Melinda (2023) Financial Performance Measurement and Analysis of PT. Indofood Sukses Makmur Tbk. before and during the COVID-19 Pandemic in Indonesia. In: 8th International CEO Communication, Economics, Organization & Social Sciences Congress, 16-17 December 2023, Via Zoom.

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Abstract

The COVID-19 pandemic has been a major hit on companies and markets in Indonesia. As of May 2021, Indonesia became one of the countries with the highest number of novel Covid-19 cases with 47,150 deaths reported. To help contain the virus, the government implemented Large Scale Social Restrictions leading to numerous lockdowns and disruptions. This caused a fall in business and economic performance in many sectors of the economy including retail and travel. The Fast Moving Consumer Goods (FMCG) industry is one such industry impacted by the pandemic. Despite sales drop in various consumer products such as dairy and beverages, the sector experienced increased demand for personal care and staple food products. PT. Indofood Sukses Makmur Tbk, the leading FMCG company in Indonesia gained a significant increase in revenue and net profit as the lockdowns stipulated stockpiling of instant noodles and other staple foods. The purpose of this study is to measure the financial performance of PT. Indofood Sukses Makmur Tbk. before and during the COVID-19 pandemic by analyzing the Current Ratio, Return on Asset (ROA), Net Profit Margin (NPM), Total Asset Turnover and Debt to Asset ratios. The data used in this study are annual financial statements from the period 2018-2022. The results hope to provide valuable insights on the impact of a global pandemic on the financial performance of PT. Indofood Sukses Makmur Tbk. and contribute to its future management decision making. Keywords: COVID-19 Pandemic, Fast Moving Consumer Goods, Financial Performance Analysis

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