Pizza Hut Indonesia's Losses Swell January-September 2024

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Adi Ahdiat 19/11/2024 11:14 WIB

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Pizza Hut's sales in Indonesia declined from January to September 2024, accompanied by a surge in losses. In response to this situation, Pizza Hut has reduced the number of its outlets and employees.

Sales and Profit & Loss Statement of Pizza Hut Indonesia/PT Sarimelati Kencana Tbk, January-September (2019-2024)

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Pizza Hut Indonesia's Losses Swell January-September 2024

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Sales and Profit & Loss Statement of Pizza Hut Indonesia/PT Sarimelati Kencana Tbk, January-September (2019-2024)

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The Indonesian Pizza Hut franchisee, PT Sarimelati Kencana Tbk (PZZA), experienced a decline in financial performance this year.

From January to September 2024, they recorded net sales of Rp2.04 trillion, a decrease of approximately Rp713 billion or 26% year-on-year (yoy) compared to the same period in 2023.

This sales decline was accompanied by a 148% yoy increase in losses, from Rp38.96 billion in losses during January-September 2023 to Rp96.72 billion in losses during January-September 2024.

Pizza Hut's sales in Indonesia during the January-September 2024 period were the lowest on record, and the losses represent the worst performance in the last six years, as shown in the graph.

Amidst these conditions, PZZA management has reduced the number of outlets and employees.

According to its financial reports, at the end of 2023 they still had 615 Pizza Hut outlets throughout Indonesia. However, by the end of September 2024, this number had decreased by 17 outlets to 595.

Furthermore, at the end of 2023 they had 5,022 permanent employees, which decreased by 371 to 4,651 permanent employees by the end of September 2024.

Editor : Adi Ahdiat

"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."