Jakarta, 30 April 2024 – PT Garudafood Putra Putri Jaya Tbk (“Garudafood”) with the stock code “GOOD” held its Annual General Meeting of Shareholders (AGMS) and Extraordinary General Meeting of Shareholders (EGMS) in a hybrid format at Arosa Hotel, Jakarta. The agenda was continued with a Public Expose in the afternoon (online format) at the Garudafood Head Office, South Jakarta.
The Garudafood AGMS and EGMS were attended by the Board of Commissioners, including Hartono Atmadja, and the Board of Directors, including Hardianto Atmadja (President Director), along with other Directors, namely Paulus Tedjosutikno, Robert Chandrakelana Adjie, Fransiskus Johny Soegiarto, and Johannes Setiadharma.
At this AGM, Garudafood announced positive performance throughout 2023, successfully posting net profit attributable to owners of the parent entity of IDR 580.41 billion or an increase of 36.5% compared to the previous year, which is the highest achievement in Garudafood's history. The growth in net profit attributable to owners of the parent entity was supported by several factors, including excellent management of operational costs, such as the production of raw materials, packaging materials, and logistics.
Based on the results of the AGMS, IDR 9 per share, or approximately IDR 331.92 billion or approximately 57.19% of the 2023 financial year profit attributable to the parent company, was determined to be the cash dividend for the 2023 financial year and will be distributed in cash on 21 May 2024 to all shareholders registered by 15 May 2024.
The 2024 Garudafood EGMS discussed several agendas, such as the addition of Garudafood's main business activities, i.e. Baby Food Industry, the addition of the main business activities of Garudafood's subsidiary, namely PT Sinarniaga Sejahtera (SNS) in the Wholesale of Traditional Medicines (PBOT) for Humans and Wholesale of Pharmaceutical Drugs (PBOF) for Humans, as well as the buyback of Garudafood shares that have been issued and listed on the Indonesia Stock Exchange (IDX) amounting to IDR 20 billion.
"Garudafood has carefully calculated the business opportunities that can run sustainably and Garudafood is confident that it can take advantage of the existing opportunities to provide added value to shareholders," said Hardianto Atmadja (President Director of Garudafood).
"With the feasibility study that has been conducted, Garudafood is optimistic that the expansion of business activities to the baby food industry can create new business opportunities as well as increase Garudafood's revenue and profit in the future," he added.
Through the public expose held by Garudafood on the same day, Garudafood is ready to achieve another milestone in 2024 amidst existing challenges, such as volatility in raw material and energy prices influenced by global geopolitical conditions and extreme climate change; regulations that can potentially hinder the sustainability of the business world; slowing economic growth that weaken public consumption spending; increasing business competition; changes in consumer behavior and the transition to a new government.
On the same occasion, Garudafood also explained the strategic measures to face these business challenges. This was conveyed by Paulus Tedjosutikno as the Director of Garudafood.
"Garudafood is committed to targeting an increase in the Company's value, in terms of sales and increasing net profit by the end of 2024 through various strategies and efforts, such as focusing on expanding distribution channels, developing new products that suit customer needs, digitalizing logistics, and improving services in the food service sector," said Paulus Tedjosutikno.
In accordance with the tagline "Leading in Innovation", Garudafood also prioritizes innovation in production, marketing, business processes, procedures, and especially human resources (HR) which aim to expand market share, increase customer satisfaction, and manage the company's operational costs.
Garudafood's priority is to collaborate with stakeholders to produce quality products and innovate while remaining consistent in managing business risks. To meet the expectations of stakeholders who are increasingly aware of sustainability practices, the implementation of environmental, social, and governance aspects in sustainability programs is also part of Garudafood's business strategy throughout 2024.
Below is a link to national media news: "Garudafood Holds The 2024 AGMS and EGMS":
- Garudafood Bagikan Dividen Rp 331,92 Miliar - Detik.com
- Garudafood Bagikan 57,19% Laba 2023 untuk Dividen - Liputan6.com
- Garudafood (GOOD) Setuju Bagikan Dividen Rp331,92 Miliar - CNBCIndonesia.com