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JAKARTA, Indonesia – PT Fore Kopi Indonesia Tbk (FORE), a premium affordable coffee chain, held its Annual General Meeting of Shareholders (“AGMS”) yesterday at Fore Experience, Panglima Polim IX No. 53, Melawai, Kebayoran Baru, South Jakarta. The AGMS was conducted both offline and online using the Electronic General Meeting System (“eASY.KSEI”) provided by PT Kustodian Sentral Efek Indonesia (“KSEI”).
At yesterday’s Fore Coffee AGMS in Jakarta (26/6), shareholders approved and agreed on all five meeting agendas, which included:
- Approval and ratification of the Company’s Annual Report for the fiscal year ending 31 December 2024, including the Activity Report, the Supervisory Report of the Board of Commissioners, and the Financial Statements for the same fiscal year, as well as the granting of full release and discharge (acquit et de charge) to the Board of Commissioners and the Board of Directors for the management and supervision conducted during the year.
- Determination of the use of net profit for the fiscal year ending 31 December 2024.
- Appointment of the Public Accountant to audit the Company’s financial statements for the fiscal year ending 31 December 2025.
- Approval of salaries, honoraria, and other allowances for members of the Board of Commissioners and Board of Directors.
- Accountability Report on the Use of Proceeds from the Company’s Initial Public Offering (IPO).
Fore Coffee remains optimistic about continuing its trend of exponential business performance growth in 2025, following a significant surge in financial performance during the 2024 fiscal year.
Vico Lomar, President Director of PT Fore Kopi Indonesia Tbk, stated that despite an economic slowdown, the Company sees the food and beverage industry—particularly coffee and non-alcoholic beverages—as still showing strong growth potential.
“Customer enthusiasm for our product innovations, such as the Butterscotch Sea Salt Latte and Triple Peach Americano—both of which became best-sellers—demonstrates the sustained appeal of our market,” said Vico after the Annual General Meeting at Fore Experience, Panglima Polim, Jakarta, Thursday (26/6).
Vico also highlighted the public’s positive response to Fore Coffee’s store expansion.
“We’ve seen high enthusiasm at every new store opening. By the end of 2024, our network had reached over 40 cities across Indonesia and Singapore. Consumer demand for recreational experiences, which can be fulfilled by high-quality yet affordable food and beverage products like those offered by Fore Coffee, plays a significant role here,” he added.
Fore Coffee: Financial Performance and Growth Strategy
Fore Coffee’s revenue soared by 115% to IDR 1.04 trillion ($64 million), and net profit skyrocketed by over 4,900% to IDR 58.2 billion ($3.6 million) in the 2024 fiscal year. This outstanding result was driven by the positive momentum of the Company’s aggressive expansion strategy, marked by a 35% increase in the number of outlets—reaching 232 by the end of 2024.
With this strong income statement performance, Fore Coffee’s equity as of 31 December 2024 rose by 227% YoY to IDR 253.12 billion, while liabilities increased 48% YoY to IDR 387.64 billion. As a result, total assets stood at IDR 640.76 billion by the end of 2024, up 89% YoY.
“In 2025, the Company has set targets to further improve its financial and operational performance, while maintaining strong customer loyalty toward the Fore Coffee brand,” Vico emphasized.
He noted that the Company’s confidence in achieving its 2025 financial performance targets is backed by an increasingly mature and systematic approach to new outlet openings and a firm commitment to operational excellence as a key pillar for maintaining quality and efficiency.
“Equally important are the continued growth and increasing acceptance of the Fore Coffee brand by consumers gives us confidence to push further in 2025,” Vico concluded.
