Jofie Yordan · · 5 min readProfits may finally be brewing at Kopi Kenangan
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In focus
- Kopi Kenangan aims to turn 2024 momentum into profit in 2025
- China’s rapid advances in AI robotics are leaving Southeast Asia behind
- We revisit our earlier piece on Malaysia-based Zus Coffee and its IPO plan
Hello reader,
I’m honestly not a coffee lover. I’m not against it, though, and I still often have coffee chats with people in the industry or with my sources.
Drinking coffee itself has increasingly become a lifestyle for many people these days. A survey by research firm Jakpat found that one in five Gen Z Indonesians drink coffee once a day.
It’s no surprise that many coffee shops have opened across the country over the past few years. Some offer instant coffee, while others serve espresso-based drinks, cold brew, and more.
Among coffee chains in Indonesia, Kopi Kenangan is arguably one of today’s top names. The company has also expanded into five other countries: Malaysia, Singapore, the Philippines, India, and Australia.
In our first top story, I break down Kopi Kenangan’s 2024 earnings report. The coffee chain delivered a strong financial performance that year, with net revenue up 24% year on year and loss before income tax down 74%.
This momentum continued into 2025. The company, whose financial results for that year have yet to be finalized, is expecting to hit US$180 million in full-year revenue. Its expansion will also continue in 2026 as it plans to enter Taiwan and a Middle Eastern country.
Also in today’s issue, Evan See from The Business Times zooms in on the AI robotics race in Asia, where China has pulled far ahead.
Southeast Asia, on the other hand, is only beginning to find its footing. High costs and labor trends are slowing the pace of robotic adoption in the region, apparently.
Jofie Yordan, journalist
Top Stories
1️⃣ Kopi Kenangan builds on 2024 gains, expects net profit in 2025
Kopi Kenangan co-founders Edward Tirtanata (left) and James Prananto/ Photo credit: Kopi Kenangan
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