Animal feed producer PT Malindo Feedmill Tbk (MAIN) experienced a decline in performance in 2020 in line with fading demand in a number of the company's business segments.

MAIN's revenue fell 6% (YoY) to Rp7 trillion at the end of 2020. In the same period, MAIN suffered a net loss of Rp38.83 billion, swinging from that in 2019, which posted a net profit of Rp152.48 billion.

Malindo Feedmill Director Lau Joo Hwa said 2020 was a challenging period for most industries, including MAIN's animal feed industry.

"In line with the Covid-19 pandemic, several countries must carry out regional quarantine (lockdown) so as to reduce demand for a number of products produced by MAIN," he said in Jakarta on Tuesday (13/4).

MAIN manages the business in an integrated manner, starting from livestock and chicken breeding in the upstream sector, commercial farming in the midstream sector, to food processing in the downstream sector.

If traced, some of MAIN's business segments did experience an accumulated decline in revenue in 2020. However, on the other hand, there are signs of a performance recovery seen in the fourth quarter of 2020.

For example, MAIN's feed mill revenue decreased 9% (YoY) to Rp4.21 trillion throughout 2020. Particularly in the fourth quarter of 2020, the segment's revenue grew 5% (YoY) to Rp1.12 trillion.

Then, revenue from MAIN's breeder segment cumulatively fell 9% (YoY) to Rp1.30 trillion in 2020. Especially in the fourth quarter of 2020, the breeder segment's revenue jumped 24% (YoY) to Rp426 billion.