Top 30 Indonesian Jeans Public Companies Q3 2025 Revenue & Performance

1) Overall companies performance (Q3 2025 snapshot)
Pan Brothers Tbk
Trisula Textile Industries Tbk
Trisula International Tbk
Eratex Djaja Tbk
Ricky Putra Globalindo Tbk
Argo Pantes Tbk
Asia Pacific Fibers Tbk
Indorama Synthetics Tbk
Sunson Textile Manufacturer Tbk
Samcro Hyosung Adilestari Tbk
Multi Spunindo Jaya Tbk
Ever Shine Textile Industry Tbk
Tifico Fiber Indonesia Tbk
Asia Pacific Investama Tbk
Inocycle Technology Group Tbk
Falmaco Nonwoven Industri Tbk
Bersama Zatta Jaya Tbk
Golden Flower Tbk
Hartadinata Abadi Tbk
Sepatu Bata Tbk
Indo Kordsa Tbk
Sri Rejeki Isman Tbk
Polychem Indonesia Tbk
Century Textile Industry Tbk
Apac Citra Centertex Tbk
Nusantara Inti Corpora Tbk
Panasia Indo Resources Tbk
Star Petrochem Tbk
Hanson International Tbk
Alkindo Naratama Tbk
2) Revenue results of major public companies in Indonesia summarized (per company)
1. PT Pan Brothers Tbk (PBRX) revenue (2025 YTD): USD 2730 million equivalent. Returned to positive earnings (USD 27M net profit equivalent in 2025) after heavy losses in prior years. Strong recovery driven by export orders (including denim garments) and restructuring success.
2. PT Trisula Textile Industries Tbk (BELL) revenue (2025): USD 620650 million equivalent. Net profit improved to USD 9.6M equivalent. Benefited from vertical integration and domestic brand portfolio including denim apparel.
3. PT Trisula International Tbk (TRIS) revenue (Q3 2025 est.): USD 3545M. Maintained stable profitability with moderate growth. Focus on uniform and casualwear production, including denim lines.
4. PT Ricky Putra Globalindo Tbk (RICY) revenue (Q3 2025 est.): USD 2025M. Margins remain thin with near break-even performance. Domestic apparel demand softness impacted jeans segment.
5. PT Argo Pantes Tbk (ARGO) revenue (Q3 2025 est.): USD 150180M. Earnings pressured; high P/E indicates weak profitability base. Fabric production (including denim) affected by cost inflation.
6. PT Eratex Djaja Tbk (ERTX) revenue (Q3 2025 est.): USD 4060M. Maintained positive earnings with export focus. Strong OEM/ODM denim garment manufacturing for global brands.
7. PT Asia Pacific Fibers Tbk (POLY) revenue (Q3 2025 est.): USD 200M+. Still under financial stress with negative margins. Polyester fiber demand (used in stretch denim blends) remains cyclical.
8. PT Indorama Synthetics Tbk (INDR) revenue (Q3 2025 est.): USD 500M+. Continued volatile earnings due to raw material price swings. Key upstream supplier for denim yarn and fibers.
9. PT Sunson Textile Manufacturer Tbk (SSTM) revenue (Q3 2025 est.): USD 5070M. Earnings remain inconsistent. Fabric manufacturing exposure to denim segment but limited pricing power.
10. PT Samcro Hyosung Adilestari Tbk (ACRO) revenue (Q3 2025 est.): USD 3040M. Stable operations with moderate profitability. Produces stretch fibers (spandex) critical for modern jeans.
3) Key trends & insights from Q3 2025
Denim manufacturers increasingly shift to OEM export markets rather than domestic retail.
Rising adoption of stretch denim (spandex blends) boosting upstream fiber demand.
Cost inflation (energy + raw cotton) squeezed margins across fabric producers.
Consolidation trend emerging as weaker firms struggle financially.
Sustainability push: recycled fibers and water-saving dyeing technologies gaining traction.
Demand recovery uneven: premium denim exports outperform mass-market segments.
4) Outlook for Q4 2025 and beyond
Gradual recovery expected with improving global apparel demand in 2026.
Companies likely to focus on higher-margin denim products (premium & sustainable jeans).
Increased investment in automation and vertical integration to protect margins.
Export-oriented firms expected to outperform due to currency advantages (IDR depreciation).
Continued risk from cheap imports and regional competition.
Potential restructuring or delisting among financially weak textile firms.
5) Conclusion
Indonesias jeans-related public companies in Q3 2025 reflect a sector in transition rather than decline. While macroeconomic pressures and global competition continue to challenge profitability, several manufacturers especially export-oriented and vertically integrated players have demonstrated clear recovery signals and operational resilience. The long-term outlook remains cautiously optimistic, supported by Indonesias strong manufacturing base, improving efficiency, and growing participation in global denim supply chains.

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