Total net sales fell by 3.9% y-o-y to US$502.7 million as net sales in Indonesia fell by 7.5% y-o-y to US$314.3 million. Net sales from regional markets mitigated Delfi’s overall top line slightly with a 2.9% y-o-y growth to US$188.4 million.
CGS International analyst Tay Wee Kuang has lowered his target price on Delfi Limited (SGX:P34
) to 88 cents from 96 cents previously as he sees “bitter times” in FY2025.
Delfi, on Feb 25, reported its results for the FY2024 ended Dec 31, 2024, where its full-year patmi fell by 26.6% y-o-y to US$33.9 million ($45.8 million). The lower patmi was due to the stronger US dollar (USD) compared to regional currencies, especially the Indonesian rupiah (IDR), although FY2024 patmi was down by 22.9% y-o-y on a constant currency basis.
