Friday, 14 April 2023

AGMS Announcement: Garudafood Achieved a Sales Growth of 19.4% in 2022

Jakarta, 14 April 2023 - PT Garudafood Putra Putri Jaya Tbk ("Garudafood") with the stock code "GOOD" held an Annual General Meeting of Shareholders (AGMS) at the Arosa Hotel and it was followed by a Public Expose in the afternoon which was held online at the Garudafood Head Office, South Jakarta (14/4). The AGMS was chaired by Hartono Atmadja as Commissioner, Dorodjatun Kuntjoro-Jakti as Independent Commissioner, Hardianto Atmadja as President Director, Paulus Tedjosutikno and Robert Chandrakelana Adjie as Directors.

The company announced positive performance throughout 2022, successfully a net profit attributable to the parent entity of Rp 425.2 billion. The net profit growth was supported by an increase in net sales of 19.4% or grew from Rp 8.8 trillion in 2021 to Rp 10.5 trillion in 2022.

Out of the profit attributable to the parent entity, Rp. 219.2 billion or 51.5% will be used as cash dividends for 2022, i.e. Rp. 6 per share. The cash dividends will be disbursed on 16 May 2023 for all shareholders who are registered by 4 May 2023.

The dividend payment has certainly taken into account the Company's business growth projections and anticipates risks that may occur in the future. In addition, the Company's earnings per share also grew by 0.4% compared to the previous year, i.e. Reaching Rp 11.64 per share. In addition to disbursing dividends, the GOOD AGMS also agreed to appoint a new Director (Swadheen Sharma) to replace Rudi Eko Hartono.

The Company also pays attention to the implementation of good governance in the form of the complete composition of the members of the Board of Commissioners and Board of Directors to improve oversight and to achieve better Company performance. The composition of the members of the Board of Commissioners as of the fulfillment of all terms and conditions determined by the Financial Services Authority (OJK) for a term of 5 (five) years from the date of appointment at the AGMS for 2022 are as follows:

Board of Commissioners:

  1. President Commissioner: Sudhamek Agoeng Waspodo Soenjoto
  2. Commissioner: Hartono Atmadja
  3. Independent Commissioner: Dorodjatun Kuntjoro-Jakti
  4. Commissioner: Pangayoman Adi Soenjoto
  5. Commissioner: Soeharto Sunjoto
  6. Commissioner: Donald Reginald Gadsden
  7. Commissioner: Swen Neufeldt
  8. Independent Commissioner: Fitra Dewata Teramihardja
  9. Independent Commissioner: Andi Chandra


Board of Directors:

  1. President Director: Hardianto Atmadja
  2. Director: Fransiskus Johny Soegiarto
  3. Director: Paulus Tedjosutikno
  4. Director: Robert Chandrakelana Adjie
  5. Director: Johannes Setiadharma
  6. Director: Swadheen Sharma

As additional information, towards the end of 2022, the Company found a new strategic investor, i.e. Hormel Foods International Corporation (HFIC), a subsidiary company owned by Hormel Foods Corporation, a global branded food company that is part of the Fortune 500 group and listed on the New York Stock Exchange.