Press Release No. 040/KFCP-DIR/PR/X/18
Jakarta, October 30, 2018 – PT Kalbe Farma Tbk and Subsidiaries (“Kalbe” or “the Company”) today announced its third quarter of year 2018 results. Net sales grew by 3.9% to reach Rp 15,678 billion from Rp 15,090 billion in the same period in 2017.
“The Company’s performance for the third quarter of 2018 reflects the weakening of Rupiah exchange rate. In the midst of challenging condition, the Company managed to book positive growth, by applying the price increase between 3 - 5% selectively,” stated Bernadus Karmin Winata, Kalbe’s Finance Director and Corporate Secretary. “Going forward, we remain optimistic of a gradual economic recovery and Company’s performance. In challenging times, we move ahead in driving innovation as future growth driver. We take improvements steps to control costs and enhance quality.”
Gross profit was recorded at Rp 7,484 billion, up by 1.6% from the same period last year. The gross margin decreased to 47.7% from 48.8% in the nine months period last year, mostly due to Rupiah depreciation.
Operating income reached Rp 2,402 billion, or equivalent to a ratio of 15.3% of net sales. Operating income increased by 2.0% compared to the same period last year. The Company will continue to manage its marketing and sales effectiveness and monitor other operating expenses to maintain operating profit growth.
Our net profit margin was relatively unchanged at 11.5% with a value of Rp 1,804 billion, or growing by 1.4% compared to Rp 1,779 billion in the same period last year. Net profit growth was mostly supported by revenue and operating income growth, as well as higher other operating income.
On account of unstable Rupiah condition and competitive landscape, the Company maintains net sales growth target by 5% -7% with the same rate of growth of net profit. The targeted operating profit margin is stable in the range of 14.5% – 15.5%. The Company allocates capital expenditure budget of Rp 1.0 – 1.5 trillion, mostly for production and distribution capacity expansion. Our dividend policy is raised in the range of 45% - 55% payout ratio, by taking into account the cash availability and internal fund requirement.
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 (Cefspan, Hemapo, Broadced, etc), consumer health division comprising over-the-counter drugs (Promag, Mixagrip, Komix, Fatigon, etc) as well as energy drink and ready-to-drink products (Extra Joss, Hydro Coco), nutritionals division (ChilKid, Prenagen, Diabetasol, etc), and distribution division. Kalbe currently has more than 35 subsidiaries and 12 production facilities with international standards, supported by around 17,000 employees, spread in 74 branches across Indonesia. Since 1991, Kalbe’s shares have been listed on the Indonesia Stock Exchange (IDX: KLBF).