Indonesia's premium mixer.
Anchored. Audited. Scaling.
Three years. Three PKF audits.
Revenue grew 6.5× from FY23 to FY25. Gross margin expanded from 36.65% → 43.31% in the same window. FY2025 reflects the transition to national distribution with PT Sukanda Djaya. The revenue base held while the channel was rebuilt.
Audited, not modelled.
PT Sukanda Djaya doesn't carry every brand. They carried us.
SKD is Indonesia's largest national FMCG distributor and Candid's exclusive national distribution partner. Their portfolio is curated — Red Bull, Yakult, premium international brands. Getting here took two years.
Already pouring at Indonesia's defining premium venues.
Direct contracts with key accounts. Long-term listings. We build relationships that last.
Finns Beach Club, Canggu.
Finns pre-funds their own co-branded packaging. Candid invoices finished goods only — making this the structurally highest-margin channel in the portfolio.
Three channels. One brand.
National reach
PT Sukanda Djaya — Indonesia's largest FMCG distributor. National food service + modern trade (Foodhall, Grand Lucky).
Direct contracts
Key Account Agreements with premium venues. Holywings (signed Mar 2026), Potato Head, Mrs Sippy, Mexicola, Shady.
Finns Co-branding
The world's best beach club doesn't just stock Candid — they co-brand it. Contracted margin premium, global brand exposure, and a platform for international growth.
FY2025 was expensive. Here's what it bought.
We invested ahead of scale. These aren't ongoing costs — they're assets that now sit on the balance sheet of a business ready to grow.
Exclusive national FMCG partner. Two years to earn it. Permanent competitive moat.
Co-brand agreement signed and active. Highest-margin channel, locked in by contract.
Three consecutive years of audited accounts. Every number in this deck has a PKF signature.
Trademarks, corporate structure, and IP secured. Foundation that scales without repeating.
Q1 was a transition. The recovery is already in motion.
PNB transitioned to SKD sub-d for Bali — volume consolidating back. Finns next PO arrives this month. Pipeline behind it is clear.
| Channel | Basis | FY2026 Est. |
|---|---|---|
| SKD (incl. PNB sub-d) | Recovery to FY25 combined + MT growth | IDR 3.0–3.8B |
| Finns | Next PO May 2026 + H2 delivery | IDR 1.0–1.5B |
| Chain + new accounts | Holywings ramp + direct pipeline | IDR 0.2–0.4B |
| Base case total | IDR 4.4–6.2B | |
| Upside (full MT + Finns at minimum) | IDR 6.5–8.5B |
Finns export ROFR
Two buckets. Most goes into the business.
The timing
is right.
USD 750k closes Q2 2026. Series A follows on a clean FY2026.