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Growth Improvement in Sales and Net Income

Growth Improvement in Sales and Net Income

Growth Improvement in Sales and Net Income

No. 052/KFCP-DIR/PR/X/19

Jakarta, October 31, 2019 – PT Kalbe Farma Tbk and Subsidiaries (“Kalbe” or “the Company”) today announced results of the first nine months in 2019. Net sales grew by 7.3% to reach Rp 16,827 billion from Rp 15,678 billion in the same period in 2018. 

“The Company’s performance of the first nine months in 2019 shows growth improvement compare to the same period last year. In the midst of challenging condition, the Company managed to book positive growth, by applying the price increase between 3 - 5% selectively on nutrition products,” 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 7,763 billion, up by 3.7% from the same period last year. The gross margin decreased to 46.1% from 47.7% in the nine months period last year, mostly due to product portfolio. 

Profit before Tax reached Rp 2,574 billion, or equivalent to a ratio of 15.3% of net sales. Profit before Tax increased by 6.6% 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 profit before tax growth.

Our net profit margin was relatively unchanged at 11.4% with a value of Rp 1,915 billion, or growing by 6.2% compared to Rp 1,804 billion in the same period last year. Net profit growth was mostly supported by revenue and efficiency in managing operational cost.

On account of stable Rupiah condition and competitive market landscape, the Company maintains net sales growth target by 6% -8% with the same rate of growth of net profit. The targeted Profit before Tax margin is stable in the range of 14.5% – 15.5%. The Company allocates capital expenditure budget of Rp 1.5 – 2.0 trillion, mostly for expansion in  production & distribution capacity, digital transformation and biological product pipeline. 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 around 40 subsidiaries and 12 production facilities with international standards, supported by around 17,000 employees, spread in 76 branches across Indonesia.  Since 1991, Kalbe’s shares have been listed on the Indonesia Stock Exchange (IDX: KLBF).

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