Financial Highlights

Key financial data and ratios

Annual Report Financial Highlights
Public Information Disclosure
Share Ownerships Analyst Coverage
Prospectus Supporting Professionals
Frequently Asked Questions
Annual Report Financial Highlights Public Information Disclosure Share Ownerships Analyst Coverage
Prospectus Supporting Professionals Frequently Asked Questions

Financial Highlights

(in millions of Rupiah unless stated otherwise)

Number of active stores FY21 FY22 FY23 FY24 FY25 9M25 9M26
Total 96 122 173 232 322 294 410
Fore Coffee Indonesia 96 122 173 231 316 291 388
Fore Donut 0 0 0 0 2 1 17
Fore Coffee Singapore 0 0 0 1 4 2 5
Income Statement (IDRmn) FY21 FY22 FY23 FY24 FY25 9M25 9M26
Revenue 107,367 286,715 482,071 1,038,659 1,497,135 1,041,753 1,597,166
Gross Profit 61,073 168,589 302,180 634,903 924,319 643,536 985,083
EBITDA 683 27,979 67,936 189,781 300,049 200,586 342,168
Operating Income (33,320) (25,719) 67 66,415 105,762 65,251 131,215
Earnings Before Tax N/A N/A (2,359) 52,958 103,662 61,891 124,039
Net Income (33,808) (59,931) 1,155 58,219 90,133 60,107 90,007
Balance Sheet (IDRmn) FY21 FY22 FY23 FY24 FY25 9M25 9M26
Total Current Assets 36,952 44,131 84,312 165,175 484,955 478,038 469,292
Cash on hand and in banks 11,716 17,710 26,907 63,031 327,531 329,396 233,248
Inventories - net 14,586 18,514 46,832 87,190 134,623 113,247 180,405
Accounts rcvbls & others 10,650 7,907 10,572 14,954 22,802 35,395 55,639
Total Non-Current Assets 124,114 133,853 255,132 475,585 675,216 576,390 905,064
Fixed assets - net 62,300 67,107 119,189 188,831 301,920 255,698 411,484
Right-of-use assets - net 53,902 57,780 119,346 242,303 320,267 270,350 427,722
Restricted cash & others 7,913 8,967 16,597 44,450 53,029 50,342 65,859
Total Assets 161,066 177,985 339,444 640,760 1,160,172 1,054,428 1,374,356
Total Current Liabilities 55,239 402,136 154,814 273,324 360,382 303,533 438,011
LT loan to related parties 0 313,702 2,998 19,754 0 5,560 0
Bank loan 0 0 0 10,811 10,858 10,811 8,011
Lease liabilities 20,182 26,101 48,834 79,820 99,684 90,779 120,025
Trade payables & others 35,057 62,333 102,983 162,940 249,840 196,383 309,975
Total Non-current Liabilities 352,035 81,653 107,145 114,313 119,202 99,427 164,866
LT loan to related parties 327,354 62,924 74,082 0 0 0 0
Bank loan 0 0 0 16,193 5,335 8,011 0
Lease liabilities 23,757 17,711 31,166 91,095 102,211 80,791 149,610
Employee benefits 924 1,019 1,896 7,025 11,656 10,625 15,256
Total Liabilities 407,274 483,789 261,959 387,637 479,584 402,961 602,877
Net cash (debt) 11,716 17,710 26,907 36,027 311,339 310,574 225,237
Net Equity (246,208) (305,804) 77,485 253,123 680,588 651,467 771,479
Issued and fully paid capital 19,742 19,742 361,687 492,685 624,285 624,285 624,285
Additional paid-in capital 0 0 32,989 27,416 233,016 233,016 233,016
Accumulated losses (265,950) (325,546) (324,545) (267,001) (177,797) (206,894) (87,790)
FX trnsltn rsv & others 0 0 7,354 23 1,084 1,060 1,969
Total Liabilities and Equity 161,066 177,985 339,444 640,760 1,160,172 1,054,428 1,374,356
Growth FY21 FY22 FY23 FY24 FY25 9M25 9M26
Revenue Growth (%) N/A 167 68.1 115.5 44.1 43.2 53.3
EBITDA Growth (%) N/A 3,997.2 142.8 179.4 58.1 62.3 70.6
Net Profit Growth (%) N/A N/A N/A 4,941 54.8 41.9 49.7
Profitability FY21 FY22 FY23 FY24 FY25 9M25 9M26
Gross Profit Margin (%) 56.9 58.8 62.7 61.1 61.7 61.8 61.7
EBITDA Margin (%) 0.6 9.8 14.1 18.3 20.0 19.3 21.4
Operating Profit Margin (%) N/A N/A 0.0 6.4 7.1 6.3 8.2
Net Profit Margin (%) (31.5) (20.9) 0.2 5.6 6.0 5.8 5.6