Sampoerna Cigarette Sales Decline Again in 2024

In 2024, PT HM Sampoerna Tbk sold 80.8 billion cigarettes, representing 27.4% of national cigarette sales.

This achievement marks another decline in sales for the HMSP-coded issuer, continuing a similar trend since 2023. Its market share has also shrunk, as shown in the graph.

The decline in Sampoerna's cigarette sales is influenced by various factors, ranging from weakening consumer purchasing power and increased tobacco excise duties to competition from illegal cigarettes.

"The majority of consumers are practicing downtrading— opting for lower-priced purchases, choosing cheaper alternatives in various sectors, including retail and consumer goods," said HMSP management in its 2024 Annual Report.

"This adds to the challenges facing the tobacco industry, which also has to contend with a double-digit increase in excise taxes and a rise in illegal cigarette sales," it continued.

Here's the net sales value of PT HM Sampoerna Tbk in recent years:

• 2022: Rp111.21 trillion
• 2023: Rp115.98 trillion
• 2024: Rp117.88 trillion

And here's the net profit of PT HM Sampoerna Tbk:

• 2022: Rp6.36 trillion
• 2023: Rp8.06 trillion
• 2024: Rp6.53 trillion

In 2024, PT HM Sampoerna Tbk's cigarette sales were supported by machine-made kretek cigarettes (SKM), with the following market share:

• Machine-made kretek cigarettes (SKM): 56.2%
• Hand-rolled kretek cigarettes (SKT): 34.1%
• Machine-made white cigarettes (SPM): 5.8%
• Hand-rolled white cigarettes (SPT): 0.8%
• Smoke-free products (SFP): 1.4%
• Exports and other sales: 1.7%

By the end of 2024, 92.44% of PT HM Sampoerna Tbk's shares were controlled by PT Philip Morris Indonesia, with the remaining 7.56% held by the public.