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Kalbe Maintains Double Digit Growth in First Quarter 2022

Kalbe Maintains Double Digit Growth in First Quarter 2022

No. 032/KFCP-DIR/PR/IV/22

Jakarta, April 28, 2022 – PT Kalbe Farma Tbk and Subsidiaries (“Kalbe” or “the Company”) today announced that net sales reached Rp 7,016 billion in first quarter 2022, grew by 16.6% compared to first quarter 2021. Meanwhile, net income of the owners of the parent entity reached Rp 835 billion in first quarter 2022, grew by 16.5% compared to Rp 716 billion in first quarter 2021.  

In an uncertainty global macroeconomic conditions and increasingly challenging of supply chains, the Company continues to strengthen the supply of raw materials to maintain product availability. The Company also maintains a strong liquidity position to anticipate future working capital needs. Innovation continues to be carried out in order to provide products and services that are in line with the needs of the community and to support sales growth.

On sustainability, the Company tries to improve access to healthcare for the community, among others by increasing the contribution of products in the National Health Insurance program, launching various preventive and herbal products, offering nutritional products that are more affordable and expanding digital-based health services. To get closer to a wider customer base, the Company provides B2C – Klikdokter (telemedicine) and B2B platform – EMOS & MOSTRANS through it’s distribution & logistic divisions. The Company also combines product portfolio management strategies, manages the effectiveness of sales and marketing activities, transforms the use of digital technology, and controls other operating costs to maintain operating profit levels. In addition, the Company continues carefully implement internal and external health protocols and educates the market through various communication channels. 

In terms of growth and contribution by Division, in first quarter 2022 Distribution & Logistics Division achieved a net sales increase of 28.9% to Rp 2,591 billion from Rp 2,010 billion and contributed 36.9% to the Company's total net sales. Nutrition Division's recorded net sales at Rp 1,886 billion in first quarter of 2022, grew by 13.8% from the previous year's achievement and accounted for 26.9% of Kalbe's total net sales in first quarter 2022. Prescription Drugs Division posted sales growth of 9.5% to Rp 1,529 billion from Rp 1,396 billion, and accounted for 21.8% of the Company total net sales. Consumer Health Division achieved an increased sales of 6.0% to Rp 1,009 billion with a contribution of 14.4% to the total net sales of the Company in the first quarter 2022. 

Operating profit grew 17.2% to Rp 1,051 billion in first quarter 2022 with operating profit to sales ratio 15.0%. Profit before tax in first quarter 2022 amounted of Rp 1,092 billion grew by 18.0% with profit before income tax margin reaching 15.6%, higher compared to 15.4% with the same period in the previous year. 

Net income of the owners of the parent entity reached Rp 835 billion in first quarter 2022, grew 16.5% compared to Rp 716 billion in the previous year. Higher net profit growth compared to net sales growth was mainly due to increased efficiency in the operational activities.

In 2022, along the economic recovery and the expected transition of Covid-19 to endemic, the Company targets 2022 net sales growth to 11%-15% with a projected net profit growth of around 11%-15%. Despite facing and increasingly uncertainty due to the global geopolitical crisis, the Company strives to maintain product availability and minimize the impact of rising raw material prices by implementing cost efficiency and price management strategies.The Company maintained a capital expenditure budget of Rp 1.0 trillion, which will be used to expand production and distribution capacity. The dividend distribution ratio is maintained at a ratio of 45%-55%, while taking into account the availability of funds and internal funding needs.

The Company's optimism for growth, encourages the Company to consistently pursue research and development activities. Through the synergy of ABGC (Academician, Business, Government and Community), the Company continues to collaborate to produce products and services that can be utilized by the community (product downstream) and are able to contribute to the Company's business performance. On the other hand, the Company opens cooperation with various parties, either in the form of joint-ventures, acquisitions or other forms of business cooperation.

The Company also innovates through PT Kalbe Genexine Biologics by conducting collaborative research and clinical trials with third parties for new invention products (Novel products) in several countries in Southeast Asia, Australia and the Middle East

Kalbe at a Glance

PT Kalbe Farma Tbk. (“Kalbe”) was established in 1966 and is one of the largest publicly-listed pharmaceutical companies in Southeast Asia. Kalbe has four main divisions managing a broad and strong portfolio of brands; Prescription Pharmaceuticals Division, Consumer Health Division comprising over-the-counter drugs,  as well as supplement drink and ready to drink products, Nutritionals Division, and Distribution & Logistics Division. Kalbe currently has more than 40 subsidiaries and 15 production facilities with international standards, employed around 16,000 employees and have 76 branches of distribution & logistics across Indonesia.  Since 1991, Kalbe’s shares have been listed on the Indonesia Stock Exchange (IDX: KLBF).

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