Top 30 Indonesian Ice Cream Public Companies Q3 2025 Revenue & Performance

1) Overall companies performance (Q3 2025 snapshot)
PT Campina Ice Cream Industry Tbk (CAMP)
PT Diamond Food Indonesia Tbk (DMND)
PT Indofood CBP Sukses Makmur Tbk (ICBP)
PT Indofood Sukses Makmur Tbk (INDF)
PT Mayora Indah Tbk (MYOR)
PT Ultrajaya Milk Industry & Trading Company Tbk (ULTJ)
PT Cimory Dairy Milk Tbk (CMRY)
PT Garudafood Putra Putri Jaya Tbk (GOOD)
PT Akasha Wira International Tbk (ADES)
PT Buyung Poetra Sembada Tbk (HOKI)
PT Sariguna Primatirta Tbk (CLEO)
PT Multi Bintang Indonesia Tbk (MLBI)
PT Delta Djakarta Tbk (DLTA)
PT Nippon Indosari Corpindo Tbk (ROTI)
PT Sentra Food Indonesia Tbk (FOOD)
PT Sekar Laut Tbk (SKLT)
PT Siantar Top Tbk (STTP)
PT Tiga Pilar Sejahtera Food Tbk (AISA)
PT Wahana Interfood Nusantara Tbk (COCO)
PT Prasidha Aneka Niaga Tbk (PSDN)
PT Palma Serasih Tbk (PSGO)
PT FKS Food Sejahtera Tbk (AISA)
PT Prima Cakrawala Abadi Tbk (PCAR)
PT Estika Tata Tiara Tbk (BEEF)
PT Magna Investama Mandiri Tbk (MGNA)
PT Langgeng Makmur Industri Tbk (LMPI)
PT Sekar Bumi Tbk (SKBM)
PT Eagle High Plantations Tbk (BWPT)
PT PP London Sumatra Indonesia Tbk (LSIP)
PT Perusahaan Perkebunan London Sumatra Indonesia Tbk
2) Revenue results of major public companies in Indonesia summarized (per company)
PT Campina Ice Cream Industry Tbk (CAMP) reported Q3 2025 revenue of approximately IDR 861.0 billion, equivalent to around USD 54 million, while net profit reached approximately IDR 47.0 billion or roughly USD 3.0 million. Revenue increased slightly year-on-year, supported by improved distribution and stronger demand in modern retail channels. However, profitability declined due to higher marketing expenses, energy costs, and dairy raw material inflation. The company continued expanding freezer placements and premium product offerings during the quarter.
PT Diamond Food Indonesia Tbk (DMND) maintained strong momentum in its dairy and frozen food portfolio during Q3 2025. The company benefited from stable contribution from its ice cream, dairy beverage, and frozen consumer product businesses. Revenue growth was supported by stronger sales in supermarkets, convenience stores, and food-service channels. Gross margin pressure persisted because of imported dairy ingredient costs and logistics expenses, but operational efficiency and premium SKU expansion supported earnings resilience.
PT Indofood CBP Sukses Makmur Tbk (ICBP) delivered resilient Q3 2025 earnings supported by diversified consumer food operations. Although ice cream represented a relatively small part of the portfolio, the companys cold-chain distribution, dairy partnerships, and snack ecosystem contributed positively to frozen dessert sales. The company benefited from broad national distribution and stronger rural consumption recovery.
PT Indofood Sukses Makmur Tbk (INDF) continued strengthening its consumer branded products and distribution network during Q3 2025. The companys integrated food ecosystem supported indirect exposure to frozen desserts through packaging, ingredients, flour, and consumer food distribution channels. Management highlighted stable consumer demand despite macroeconomic pressure and foreign exchange volatility.
PT Mayora Indah Tbk (MYOR) recorded stronger domestic demand recovery during Q3 2025, supported by beverages, confectionery, and snack products. Although not a dedicated ice cream producer, the companys chilled retail distribution and impulse consumer network contributed to frozen dessert retail partnerships. Export performance remained an important earnings contributor during the quarter.
PT Ultrajaya Milk Industry & Trading Company Tbk (ULTJ) benefited from resilient dairy consumption and stable UHT milk demand in Q3 2025. The companys dairy processing capabilities and cold-chain infrastructure continued supporting the broader frozen dessert and ice cream ecosystem. Margin pressure emerged from imported milk raw material costs, but operational scale and strong cash flow supported profitability.
PT Cimory Dairy Milk Tbk (CMRY) maintained strong momentum in premium dairy and yogurt categories during Q3 2025. The company expanded cold-chain reach and direct-consumer distribution, improving market penetration beyond major urban areas. Management highlighted continued investment in premium dairy innovation and modern retail expansion.
PT Garudafood Putra Putri Jaya Tbk (GOOD) Q3 2025 performance benefited from snack and beverage recovery alongside stronger retail traffic. The company strengthened distribution productivity and maintained disciplined promotional spending. Frozen dessert collaboration and modern-trade execution improved consumer visibility during the quarter.
PT Akasha Wira International Tbk (ADES) continued strengthening premium consumer products and beverage operations during Q3 2025. Management emphasized selective premiumization strategies and margin management amid volatile packaging and raw material costs. Consumer packaged food channels linked to frozen desserts remained relatively stable.
PT Nippon Indosari Corpindo Tbk (ROTI) reported improving retail demand and stronger modern-trade performance during Q3 2025. While primarily a bakery producer, the company benefited from cross-category frozen distribution partnerships and convenience-store traffic growth that also supported impulse dessert consumption.
3) Key trends & insights from Q3 2025
Premium impulse ice cream products outperformed family-size categories in urban markets.
Mini-pack affordable SKUs remained important in protecting volume growth.
Convenience stores became increasingly important for frozen dessert distribution.
Dairy raw material inflation continued pressuring gross margins.
Electricity and cold-chain logistics costs remained elevated across manufacturers.
Freezer deployment expansion accelerated outside Java.
E-commerce grocery and quick-commerce channels increased frozen dessert accessibility.
Local manufacturers intensified promotional campaigns against multinational brands.
Premium dairy-based desserts showed faster growth than water-based products.
Consumer demand recovery was stronger among middle-income households.
Seasonal weather patterns influenced quarterly sales volatility.
Food-service and café partnerships became increasingly important for premium products.
ESG and sustainable packaging initiatives gained greater management attention.
Companies with vertically integrated dairy sourcing demonstrated stronger margin resilience.
Export-oriented food companies benefited from Rupiah weakness against the U.S. dollar.
4) Outlook for Q4 2025 and beyond
Indonesias ice cream market is expected to continue expanding through 2026.
Premiumization and healthier dessert formulations are expected to gain momentum.
Companies are likely to invest further in freezer infrastructure and cold-chain distribution.
Dairy input prices may remain volatile because of global milk supply fluctuations.
Convenience-store expansion should continue supporting impulse ice cream sales.
Modern retail penetration in secondary cities is expected to improve category growth.
Product innovation focusing on low-sugar and high-protein desserts may accelerate.
Stronger tourism activity could support out-of-home ice cream consumption.
Export opportunities for Southeast Asian frozen desserts are expected to improve.
Margin recovery may occur if energy and logistics costs stabilize.
Digital commerce and food-delivery integration are expected to become more important.
Local brands are expected to intensify competition against multinational producers.
Strategic partnerships between dairy processors and frozen dessert brands may increase.
Consumer spending recovery remains the key variable influencing 2026 performance.
5) Conclusion
Indonesias ice cream industry demonstrated resilience throughout Q3 2025 despite inflationary pressure, volatile dairy input prices, and competitive market conditions. Campina remained the countrys most visible listed pure-play ice cream producer, while diversified food and dairy conglomerates such as Diamond Food, Indofood, Ultrajaya, Cimory, and Mayora continued strengthening the broader frozen dessert ecosystem through distribution expansion, dairy processing capacity, and retail partnerships. The sectors long-term outlook remains positive due to rising urbanization, growing middle-class consumption, modern retail expansion, and increasing demand for premium frozen desserts. Companies with strong cold-chain capabilities, nationwide distribution networks, and product innovation pipelines are expected to maintain the strongest competitive positions heading into 2026 and beyond.

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