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Growing Positively in the Midst of Uncertainty

Growing Positively in the Midst of Uncertainty

Press Release No. 047/KFCP-DIR/PR/X/20

Jakarta, October 30, 2020 – PT Kalbe Farma Tbk and Subsidiaries (“Kalbe” or “the Company”) today announced net income of the owners of the parent entity reach Rp 2,027 billion in the first nine month of 2020, grew 5.8% compared to Rp 1,915 billion in the same period in the previous year.

“The impact of Covid-19 caused Indonesia to experience negative economic growth in the second and third quarter of 2020, however the Company was able to maintain positive sales and net profit growth," said Bernadus Karmin Winata, Finance Director of Kalbe Farma.

The increase in sales in the first nine month of 2020 was supported by: Consumer Health Division achieved an increase in sales of 4.6% to Rp. 2,893 billion with a contribution of 16.9% to the total net sales of the Company. Distribution & Logistics Division achieved a net sales increase of 3.7% from Rp 5,305 billion to Rp 5,499 billion, and contributed 32.2% to the Company's total net sales. The Nutrition Division's net sales stood at Rp 4,933 billion in the first nine month of 2020, growing 1.9% from the previous year's achievement and accounted for 28.9% of Kalbe's total net sales, while Company's Prescription Drugs Division which posted declined sales growth of 3.7% to Rp 3,771 billion, and accounted for 22.1% of Kalbe's total net sales in the first nine month of 2020. As total, the Company net sales is Rp 17,096 billion for the first nine months of 2020, an increase of 1.6% compared to the same period last year of Rp 16,827 billion.

Gross profit grew by 0.1% to Rp 7,771 billion in the first nine month of 2020. Gross profit to sales ratio fell to 45.5% from 46.1% for the same period of last year. This was caused by changes in portfolio product mix. Profit before tax in the first nine month of 2020 amounted to Rp. 2,688 billion grew by 4.4% with profit before income tax margin reaching 15.7%, an increase from 15.3% in the same period in the previous year.

Net income of the owners of the parent entity reach Rp 2,027 billion in the first nine month of 2020, grew 5.8% compared to Rp 1,915 billion in the same period in the previous year. Higher net profit growth compared to net sales growth was mainly due to increased efficiency in operating costs and lower tax rate.

During this pandemic, the Company believes in the importance of prudent and thorough financial management, in order to consistently maintain a strong financial position. In the first nine months of 2020, the Company has cash and cash equivalents of Rp. 4,401 billion, up 44.8% in the same period a year earlier. Total Liabilities and Equity increased 20.8% to Rp. 22,450 billion from Rp. 20,265 billion

To support the government and the community to be able to fight and pass the pandemic, Kalbe will continue to strive to improve services produce and provide products that can improve public health. The Company will continue to combine product portfolio management strategies, manage the effectiveness of sales and marketing activities, transforming digital technology innovation, also monitor other operating costs to maintain level of net profit. Kalbe continues to strictly implement internal and external health protocols and educates the market through various channels.

Seeing the condition of Covid-19 pandemic which will continue until end of year, the Company revised its full year 2020 net sales target growth of 4%-6% with a projected net profit growth of around 8%-10%. 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%, with due regard to the availability of funds and internal funding needs.


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 43 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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