Charoen Pokphand Indonesia - Compressed Margin in 3Q24
3Q24 net profit was supported by resilient revenues and tax gains but was partly offset by losses in changes in fair value of biological assets.
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Charoen Pokphand Indonesia (CPIN IJ) - FY23 Results: Another Year with a Negative Ending
CPIN booked 4Q23 net losses of Rp357bn, surpassing 4Q22’s net losses of Rp257bn driven by a lower feed margin and poultry business losses.
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Poultry: Good Entry Points Amid Low Expectations on LB Prices
We continue to see that lower feed costs and a potential rebound in chicken prices in 4Q24 will support profitability in FY24.
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Poultry: Concern on Low Livebird Prices Is Overdone
We reaffirm our view that lower feed costs and a potential rebound in 4Q24 chicken prices will support profitability in 2H24.
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Poultry: Potential Re-Rating Intact from Strong FY24-25F Earnings Growth
Despite the potentially lower LB pricesin Suro month, we remain bullish given the expected higher margin from lower feed costs.
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