FORE reaches IDR 1 trillion in first half revenue as EBITDA rises 65%
Published on July 20, 2026
Customers at a Fore Coffee outlet in Indonesia. The company continued expanding its retail network during the first half of 2026, reaching 377 stores across Indonesia and Singapore.
One year after its initial public offering, PT Fore Kopi Indonesia Tbk (FORE) reported another period of strong growth as first-half 2026 revenue reached IDR 1 trillion. Revenue rose 52% year on year, while EBITDA increased 65% to IDR 216 billion and net profit grew 34% to IDR 56.5 billion. EBITDA margin also expanded to 21.5%, from 19.7% in the same period last year.
The results indicate that FORE continued expanding its retail network while improving profitability, with EBITDA growth outpacing revenue growth.
Expanding its retail footprint
During the first half of 2026, FORE opened more than 40 new Fore Coffee outlets, bringing its total network to 377 stores across Indonesia and Singapore. The network comprises 363 Fore Coffee stores in Indonesia, four Fore Coffee stores in Singapore, and 10 Fore Donut stores across more than 60 cities.
More than 40% of the new Fore Coffee outlets were opened in Tier 2 and Tier 3 cities, reflecting growing demand for premium coffee experiences in these markets. The expansion also reflects the company’s continued deployment of IPO proceeds in line with its growth strategy.
Stronger profitability
Revenue increased 52% year on year, while EBITDA grew 65%, lifting EBITDA margin from 19.7% to 21.5%. The results reflect improving operating leverage as FORE continues to scale its retail network, with greater economies of scale supporting higher profitability.
FORE’s Premium Affordable business model, supported by operational discipline and consistent execution across its growing store network, continued to underpin its financial performance.
Building a multi-brand platform
Alongside the continued expansion of Fore Coffee, FORE also accelerated the rollout of Fore Donut, which opened eight additional stores during the first half of 2026, including its first outlet in Surabaya.
The brand also obtained halal certification in early July, ahead of its planned opening at Soekarno-Hatta International Airport, followed by Bandung, as it continues to broaden its presence across Indonesia.
Capital deployment
FORE’s first half 2026 performance marks its first IDR 1 trillion revenue period since listing in April 2025. The performance also reflects the continued deployment of IPO proceeds to expand its retail footprint, strengthen its portfolio of consumer brands, and support the company’s long-term growth strategy.
