MYOR – Maintaining performance amid rising coffee and cocoa prices

MYOR – Maintaining performance amid rising coffee and cocoa prices Mayora Indah (MYOR) is trying to maintain its performance amid rising coffee prices due to supply shortages and rising cocoa prices which reached the level of USD8,500 per ton. The price increase is reflected in the gross margin which reached 23.5% in 1H24 or is below MYOR's guidance of 25-27%. MYOR plans to increase product prices gradually, especially on several SKUs of coffee and chocolate-related products, in 2H24 to maintain performance. Moreover, MYOR has posted double-digit growth for domestic sales and high single-digit growth for export sales in 8M24. The increase was due to a 3% yoy increase in mixed ASP and a favorable base effect. (Source: Bisnis Indonesia)