2026 Performance Outlook for Cigarette Makers HMSP, GGRM, WIIM
In 2026, cigarette makers HMSP, GGRM, and WIIM are set for financial growth due to Indonesia's excise freeze, easing cost pressures and boosting profitability.
(Bisnis.Com) 01/01/70 07:00 81727
Bisnis.com, JAKARTA — Cigarette makers, including HMSP, GGRM, and WIIM, are deemed as having a strong footing to post improved financial performance in 2026, underpinned primarily by the Indonesian government’s decision to freeze excise tariffs on tobacco products, including cigarettes.
RHB Sekuritas Indonesia analyst Andrey Wijaya said the government’s move to once again refrain from raising cigarette excise in 2026 represents a positive catalyst for tobacco producers, which have been grappling with persistent structural headwinds such as weak consumer purchasing power, subdued sales volumes, and mounting pressure from illicit cigarette products.
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