Kalbe Farma Records Rp1.8 Trillion Profit by June 2024

Based on Kalbe Farma Tbk's financial reports published by the Indonesia Stock Exchange (IDX), net profit attributable to the parent entity reached Rp1.8 trillion (approximately US$119 million) as of June 2024.

The pharmaceutical company's net profit increased by 18.05% year-on-year (YoY) from Rp1.52 trillion (approximately US$101 million) in June 2023.

Net sales for the company, with stock code KLBF, amounted to Rp16.32 trillion (approximately US$1.08 billion) in June 2024, a 7.57% YoY increase from Rp15.17 trillion (approximately US$1.01 billion) in June 2023.

According to *Katadata.co.id*, KLBF's Corporate Secretary and Investor Relations Manager, Syeren Amanda, stated that this growth was driven by positive performance across all business segments, efficient operational cost management, and contributions from supportive non-operational costs.

“We assess that the performance of Semester I-2024 shows a good sign of recovery in terms of volume demand, accompanied by a positive margin recovery trend,” she said in a public expose presentation on Tuesday, August 27, 2024.

She explained that various strategic initiatives are progressing as planned, particularly in building ecosystems for oncology, biological drugs, generic drugs and medical devices, and strategic partnerships to build pharmaceutical raw material production.

Over the past few months, various Kalbe divisions have shown solid performance. The Prescription Drugs division recorded a 7.6% YoY increase in net sales. This achievement was supported by the generic drug segment, which played a crucial role in ensuring drug availability for the BPJS Kesehatan program, and strengthening specialty drugs.

The Health Products division also recorded growth with a 1.3% YoY increase in net sales, driven by a gradual recovery in the local market and exports showing a positive trend.

In the Nutrition division, Kalbe recorded a 0.5% YoY increase in net sales, driven by growth in the mid-range product and beverage segments. This growth even exceeded the average local market for powdered milk.

Meanwhile, the Distribution and Logistics division recorded a 17.1% YoY increase in net sales, thanks to the increasing contribution from external principals, including the addition of new principals.

KLBF's total assets amounted to Rp28.56 trillion (approximately US$1.9 billion) in June 2024, a 5.57% increase from Rp27.05 trillion (approximately US$1.8 billion) in December 2023. Liabilities were recorded at Rp5.02 trillion (approximately US$334 million), and equity at Rp23.53 trillion (approximately US$1.57 billion) in June 2024.

(Also read: Consumers More Selective, Sido Muncul's Profit Down Until Quarter III 2023)