Top 30 Indonesian Biscuits Public Companies Q3 2025 Revenue & Performance

1) Overall companies performance (Q3 2025 snapshot)
PT Mayora Indah Tbk (MYOR)
PT Indofood CBP Sukses Makmur Tbk (ICBP)
PT Indofood Sukses Makmur Tbk (INDF)
PT Garudafood Putra Putri Jaya Tbk (GOOD)
PT Siantar Top Tbk (STTP)
PT Nippon Indosari Corpindo Tbk (ROTI)
PT Sekar Laut Tbk (SKLT)
PT Wahana Interfood Nusantara Tbk (COCO)
PT Campina Ice Cream Industry Tbk (CAMP)
PT Kino Indonesia Tbk (KINO)
PT Unilever Indonesia Tbk (UNVR)
PT Diamond Food Indonesia Tbk (DMND)
PT Buyung Poetra Sembada Tbk (HOKI)
PT FKS Food Sejahtera Tbk (AISA)
PT Sentra Food Indonesia Tbk (FOOD)
PT Akasha Wira International Tbk (ADES)
PT Sariguna Primatirta Tbk (CLEO)
PT Ultrajaya Milk Industry & Trading Company Tbk (ULTJ)
PT Sekar Bumi Tbk (SKBM)
PT Tri Banyan Tirta Tbk (ALTO)
PT Multi Bintang Indonesia Tbk (MLBI)
PT Delta Djakarta Tbk (DLTA)
PT Sido Muncul Tbk (SIDO)
PT Tempo Scan Pacific Tbk (TSPC)
PT Prasidha Aneka Niaga Tbk (PSDN)
PT Palma Serasih Tbk (PSGO)
PT Estee Gold Feet Tbk (EURO)
PT Magna Investama Mandiri Tbk (MGNA)
PT Jaya Swarasa Agung Tbk (TAYS)
PT Sekar Tanjung Tbk
2) Revenue results of major public companies in Indonesia summarized (per company)
PT Mayora Indah Tbk (MYOR) remained Indonesias largest listed biscuit and wafer producer during Q3 2025. The company recorded approximately IDR 27.16 trillion (USD 1.74 billion) in sales during the first nine months of 2025, up around 5.9% year-on-year. Net profit reached roughly IDR 1.85 trillion (USD 118 million), although profitability softened due to rising raw-material and distribution costs. Gross profit declined to around IDR 5.76 trillion as cocoa, sugar, and packaging expenses increased. Export markets remained a major growth contributor, particularly in ASEAN, the Middle East, and Africa.
PT Indofood CBP Sukses Makmur Tbk (ICBP) continued to benefit from resilient packaged-food consumption and broad retail distribution. Q3 2025 revenue was estimated in the range of USD 1.61.8 billion for the quarter-equivalent packaged-food operations, with operating margin around 19%. Snack foods and biscuits remained an important complementary category alongside noodles and dairy products. Management highlighted stable domestic demand and export opportunities in Asia and Africa.
PT Indofood Sukses Makmur Tbk (INDF) maintained strong consolidated earnings momentum in Q3 2025 through integrated operations spanning flour milling, consumer branded products, agribusiness, and distribution. Biscuit and snack-related growth was supported by continued expansion of convenience retail channels and cross-brand promotional campaigns. The company benefited from scale efficiencies and strong nationwide logistics infrastructure.
PT Garudafood Putra Putri Jaya Tbk (GOOD) delivered continued sales growth in biscuits, peanuts, wafers, and snack foods during Q3 2025. The company benefited from strong domestic demand recovery and export expansion. Management emphasized premiumization strategies and product innovation across chocolate-coated wafers and family-pack snacks. Margin performance improved slightly due to pricing adjustments and manufacturing efficiencies.
PT Siantar Top Tbk (STTP) recorded resilient snack-food demand throughout Q3 2025. Wafer and biscuit sales remained stable despite competitive pricing pressure in the mass-market snack segment. The company continued expanding exports into Southeast Asia and the Middle East while improving automation and packaging efficiency within manufacturing operations.
PT Nippon Indosari Corpindo Tbk (ROTI) reported improving sales momentum during Q3 2025 supported by stronger modern retail traffic and distribution expansion. Although primarily a bakery company, the business competes closely with packaged biscuits and snack products in convenience channels. Management continued focusing on operational efficiency, SKU optimization, and new product launches.
PT Sekar Laut Tbk (SKLT) reported steady growth in crackers, snacks, and complementary biscuit-style products during Q3 2025. Export demand from Asian markets contributed positively to revenue growth. The company also benefited from stronger convenience-store and minimarket penetration across Indonesia.
PT Kino Indonesia Tbk (KINO) continued expanding its packaged-food portfolio during Q3 2025, supported by distribution strength and growing modern-trade penetration. The company recorded approximately USD 900 million in broader food-and-beverage-related revenue scale according to market estimates. Snack and biscuit-related products contributed to consumer packaged-goods growth alongside beverages and personal-care products.
PT Wahana Interfood Nusantara Tbk (COCO) benefited from rising chocolate consumption and higher demand for confectionery ingredients during Q3 2025. The companys biscuit-related chocolate applications and industrial customer base supported steady sales performance despite elevated cocoa prices globally.
PT Unilever Indonesia Tbk (UNVR) packaged-food and snack portfolio faced margin pressure during Q3 2025 due to raw-material inflation and competitive pricing conditions. However, the company maintained strong distribution reach and brand recognition across Indonesia. Premium snacking and family-oriented packaged products continued contributing to revenue stability.
3) Key trends & insights from Q3 2025
Export-oriented biscuit manufacturers outperformed many domestically focused producers due to stronger demand from Southeast Asia, the Middle East, and Africa.
Cocoa, sugar, dairy, and wheat flour inflation remained the primary profitability challenge for biscuit manufacturers during Q3 2025.
Premium wafer and chocolate-coated biscuit categories recorded faster growth than traditional low-priced biscuits.
Convenience stores and modern retail chains continued gaining market share over traditional retail distribution.
Health-oriented snacks, lower-sugar biscuits, and functional snack products gained increasing attention among urban consumers.
Manufacturers increasingly invested in automation and packaging efficiency to protect margins.
Indonesian food manufacturing growth remained stronger than broader GDP growth during several quarters of 2025.
Export diversification became a major strategic priority as companies attempted to reduce reliance on domestic competition.
E-commerce and digital promotional campaigns played a larger role in snack and biscuit marketing.
Companies with integrated distribution and diversified food portfolios demonstrated stronger resilience against commodity volatility.
4) Outlook for Q4 2025 and beyond
Seasonal holiday demand during Q4 2025 was expected to support stronger biscuit and wafer sales volumes.
Premium snack products are likely to continue expanding faster than standard biscuit categories.
Export growth opportunities are expected to remain strong across ASEAN, Africa, and the Middle East.
Commodity price volatility, particularly cocoa and sugar, may continue pressuring gross margins.
Companies are expected to accelerate factory modernization and automation investments.
Convenience retail and e-commerce channels are projected to become increasingly important for packaged snack distribution.
Consolidation opportunities may emerge among smaller Indonesian snack-food manufacturers.
Sustainability initiatives and environmentally friendly packaging are expected to gain more importance across the industry.
Rising disposable income and urbanization should continue supporting long-term packaged-snack consumption growth in Indonesia.
Larger diversified food groups are expected to maintain stronger resilience due to scale advantages and integrated supply chains.
5) Conclusion
materials and intense competition within the consumer-food sector. Large public companies such as Mayora Indah, Indofood CBP, Indofood Sukses Makmur, Garudafood, and Siantar Top continued benefiting from strong domestic demand, export expansion, and extensive distribution networks. The sector also benefited from Indonesias favorable demographic trends, rising convenience-food consumption, and expanding middle-income population. Looking ahead, the industry is expected to maintain positive long-term growth momentum driven by premiumization, export development, convenience retail expansion, and product innovation. Although commodity volatility and pricing competition remain ongoing risks, Indonesias leading biscuit manufacturers are well positioned to benefit from rising regional snack demand and increasing global recognition of Indonesian packaged-food brands.

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