Indonesia’s listed coffee chain Fore Coffee crossed the 1 trillion rupiah ($56 million) revenue mark in the first half of 2026 as it benefited from an expanding store network and sustained consumer demand, helping lift profit by more than a third.
The company posted net sales of 1 trillion rupiah ($56 million) in the January–June period, up 51.7% from 662.4 billion rupiah ($34.6 million) a year earlier, according to its financial statement filed with the Indonesia Stock Exchange on Monday.
Net profit rose 34.4% to 56.5 billion rupiah ($3.14 million) from 42 billion rupiah. Operating profit increased to 82.2 billion rupiah from 45.6 billion rupiah in the same period last year.
Coffee beverages remained the group’s biggest revenue contributor, generating 871.5 billion rupiah, or nearly 87% of total sales. Food sales, including products from its bakery business, contributed 132.7 billion rupiah, accounting for the remaining 13%.
The company’s underlying profitability also improved during the period. EBITDA rose 65.4% year-on-year to 216 billion rupiah, outpacing revenue growth, while EBITDA margin expanded to 21.5% from 19.7% a year earlier.
Operating margin also improved to 8.2% from 6.9%, although operating expenses increased 48.5% to 539.8 billion rupiah as Fore continued investing in its expansion. Selling expenses rose to 447 billion rupiah from 298.4 billion rupiah, while general and administrative expenses increased to 92.8 billion rupiah from 66.2 billion rupiah.
As of June 30, Fore operated 377 stores in Indonesia, comprising 363 Fore Coffee outlets in Indonesia, 10 Fore Donut stores and four Fore Coffee outlets in Singapore. It was up from 261 in the first half of 2025.
The expansion continued to weigh on investment spending. Net cash generated from operating activities rose to 156.4 billion rupiah in the first half, while capital expenditure on fixed assets reached 107.6 billion rupiah. Cash and bank balances stood at 264 billion rupiah at the end of June, down from 327.5 billion rupiah at the end of December.
Fore’s total assets increased to 1.26 trillion rupiah as of June 30 from 1.02 trillion rupiah at the end of last year, driven by additions to fixed assets and right-of-use assets associated with new store openings.
