Indonesia-listed coffee chain Fore Coffee recorded a net profit of 33.5 billion rupiah ($1.85 million) in the third quarter of 2026, up 85.4% from 18.1 billion rupiah ($1 million) a year earlier.
Net sales rose 56.1% year-on-year to 592.2 billion rupiah ($33 million), while gross profit increased 55% to 363.1 billion rupiah ($20.1 million). Cost of sales grew 57.9% to 229.2 billion rupiah ($13 million).
Operating expenses climbed to 314.1 billion rupiah from 214.7 billion rupiah a year earlier. Selling expenses increased 48.9% to 263.2 billion rupiah, while general and administrative expenses rose 34.1% to 50.8 billion rupiah.
Operating profit more than doubled to 49 billion rupiah from 19.6 billion rupiah.
The third-quarter figures were calculated by subtracting the first-half results from the company’s unaudited financial statements for the nine months ended September 2026.
The company reported that net sales for the nine months rose 53.3% year-on-year to 1.6 trillion rupiah ($88.6 million), while net profit increased 49.7% to 90 billion rupiah ($5 million). EBITDA grew 70.6% to 342.2 billion rupiah ($19 million), with the EBITDA margin widening to 21.4% from 19.3% a year earlier.
The company said its nine-month net sales, gross profit and EBITDA had already surpassed their respective full-year 2025 figures.
Nine-month net sales, gross profit and EBITDA have already surpassed their respective full-year 2025 figures.
The performance came as Fore continued to expand its store network. It opened more than 70 Fore Coffee outlets in Indonesia during the first nine months of 2026, bringing its domestic network to 388 stores and exceeding its initial full-year target of 70 new outlets. More than 55% of the new stores were in tier-two and tier-three cities.
As of September, the group operated 410 outlets, comprising 388 Fore Coffee stores in Indonesia, five in Singapore, and 17 Fore Donut stores.
Fore Donut, launched in September 2025, added 15 outlets between January and September 2026, including 11 in Greater Jakarta and two each in Bandung and Surabaya. The brand continues to attract consumers with product innovation.
Vico Lomar, president director of Fore Kopi Indonesia, said the company remained focused on operational discipline, product quality, and improving individual store productivity alongside network expansion.
“We also remain committed to good corporate governance (GCG) and prudent capital management, including the use of IPO proceeds in line with the company’s strategy. Going forward, we will continue to strengthen our operations and grow our business sustainably to create long-term value for all stakeholders,” Lomar said in a statement.
Fore raised more than 353 billion rupiah through its initial public offering in April 2025, with net proceeds of more than 337 billion rupiah that went towards store expansion, development of Fore Donut, and working capital.
