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Jakarta, July 29, 2022 – PT Kalbe Farma Tbk and Subsidiaries (“Kalbe” or “the Company”) today announced that net sales reached Rp 13,875 billion in first semester 2022, growing by 12.2% compared to first semester 2021. Meanwhile, net income reached Rp 1,637 billion in first semester 2022, growing by 9.3% compared to Rp 1.497 billion in first semester 2021.  

Given prolonged global macroeconomic and supply chain volatility, the Company continues to secure supply of raw materials to ensure product availability for our customers. Meanwhile, pressure to margin from rising input cost will be prudently minimized through price and portfolio strategies, while managing operating cost efficiency.  Ensuring liquidity position also remains top priority for the Company to anticipate working capital requirements. The Company will continue its focus on innovation to provide products and services to meet consumers’ needs.

The Company continuously works 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 its 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 to 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 semester 2022 Distribution & Logistics Division achieved a net sales increase of 16.8% to Rp 5,068 billion from Rp 4,339 billion in the first semester 2021 and contributed 36.5% to the Company's total net sales. Nutrition Division's recorded net sales at Rp 3,720 billion in first semester of 2022, grew by 11.8% from the previous year's achievement and accounted for 26.8% of Kalbe's total net sales in first semester 2022. Prescription Drugs Division posted sales growth of 8.8% to Rp 2,941 billion from Rp 2,703 billion, and accounted for 21.2% of the Company total net sales. Consumer Health Division achieved an increased sales of 7.2% to Rp 2,146 billion with a contribution of 15.5% to the total net sales of the Company in the first semester 2022.

The Company continues to improve efficiency in operational activities to maintain the operating profit to sales ratio. Operating profit grew 10.0% to Rp 2,024 billion in first semester 2022 with operating profit to sales ratio 14.6%. Profit before tax in first semester 2022 amounted of Rp 2,136 billion grew by 10.8% with profit before income tax margin reaching 15.4%.

Earnings per share reached Rp 35.11 in first semester 2022, grew 9.9% compared to Rp 31.94 in the previous year. 

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 increasing 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 downstreaming) 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. Among such collaborations, the Company through PT Kalbe Genexine Biologics (KGBio) conducts  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. 

On 22 July 2022, Kalbe signed a Share Purchase Agreement (“SPA”) with Sanofi Aventis Participations and Hoechst GMBH. This strategic move will bring products that are in line with Kalbe's portfolio, especially in focused therapy classes, such as diabetes and cardiovascular, as well as access to vaccines as part of Kalbe's growth strategy. Kalbe welcomes this strategic collaboration with Sanofi as an innovative global healthcare company with strong market penetration in Indonesia. This collaboration also has the potential to strengthen Kalbe's future innovation initiatives. Closing is expected to be effectively implemented in Q4 2022 subject to the fulfillment of certain conditions as part of the SPA.

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 71 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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