Indofarma, a State-Owned Enterprise (SOE), Suffers Significant Losses Due to Sharp Drop in Sales

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Reza Pahlevi 18/08/2022 15:40 WIB

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Indofarma's state-owned enterprise revenue fell 32.4% year-on-year (yoy) to Rp574.05 billion in the first half of 2022.

Indofarma Net Revenue and Profit/Loss (Semester I, 2021 vs 2022)

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Indofarma, a State-Owned Enterprise (SOE), Suffers Significant Losses Due to Sharp Drop in Sales

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Indofarma Net Revenue and Profit/Loss (Semester I, 2021 vs 2022)

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State-Owned Enterprise (SOE) PT Indofarma Tbk recorded a decline in performance in the first half of 2022. This performance decline was triggered by decreased sales.

Indofarma's sales plummeted 32.4% year-on-year (yoy) to Rp574.05 billion in the first half of 2022. Indofarma's sales were recorded at Rp849.3 billion in the same period the previous year.

In addition to the decline in sales, Indofarma was only able to reduce its cost of goods sold by 3.8% (yoy) to Rp502.55 billion. Added to other expenses, Indofarma recorded an operating loss of Rp74.33 billion.

Furthermore, the company recorded a net loss of Rp90.7 billion. This is in stark contrast to the net profit of Rp977.78 million in the first half of 2021.

The pandemic had previously brought profits to the pharmaceutical SOE holding company consisting of Bio Farma, Indofarma, and Kimia Farma. In 2021, the holding company's profit increased by 668% (yoy) to Rp1.93 trillion.

Editor : Annissa Mutia

"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."

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Indofarma, a State-Owned Enterprise (SOE), Suffers Significant Losses Due to Sharp Drop in Sales

Indofarma, a State-Owned Enterprise (SOE), Suffers Significant Losses Due to Sharp Drop in Sales

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Indofarma, a State-Owned Enterprise (SOE), Suffers Significant Losses Due to Sharp Drop in Sales

Indofarma, a State-Owned Enterprise (SOE), Suffers Significant Losses Due to Sharp Drop in Sales

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