HM Sampoerna (HMSP), the largest cigarette producer in Indonesia, booked a net profit of Rp8.58 trillion in 2020, dropped 37.5% year on year (y/y) as operating profit fell 39% y/y to Rp10.4 trillion. Net profit margin declined 28.1% to 9.3% in 2020 from 12.9% in 2019. Operating profit margin also fell 30.1% to 11.3% from the previous year’s 16.1%. Finance income fell 36% to Rp765 billion from Rp1.19 trillion in 2019, affecting a significant operating profit drop.
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