Kimia Farma Earns Revenue Of IDR 7.7 Trillion Supported By This Segment

JAKARTA - PT Kimia Farma Tbk (KAEF) managed to record revenue up to the third quarter of 2023 of IDR 7.72 trillion, or an increase of 8.15 percent from the previous year of IDR 7.13 trillion.

This growth was supported by sales of ethical products, which increased 12.25 percent, amounting to Rp2.89 trillion from the previous year's Rp2.58 trillion.

KAEF President Director David Utama said that generic products are also contributors to KAEF's revenue growth.

Sales of generic products in the third quarter of 2023 exceeded Rp1.82 trillion from the same period the previous year of Rp1.43 trillion or grew 27.17 percent.

"This growth reflects the company's efforts to fulfill and maintain the availability of generic products for the community at Kimia Farma Pharmacies and pharmacies, hospitals, and third-party drug stores," he told reporters, Tuesday, October 31.

David said that the consolidated sales of Over The Counter (OTC) products grew steadily by 2.56 percent from Rp1.62 trillion in the third quarter of 2022 to Rp1.66 trillion in the third quarter of 2023.

KAEF continues to strengthen its business development through a more innovative product roadmap, one of which is OTC category products.

"PT Kimia Farma Tbk continues to make efforts to strengthen its product portfolio, including strengthening vitamin, mineral, and supplement (VMS) products, where the need for VMS products is expected to increase in the following year," said David.

Business profit in the third quarter of 2023 was consolidated positively recorded at IDR 240.58 billion, an increase of 76.37 percent compared to the previous year's IDR 136.4 billion.

This result was supported by an increase in consolidated revenue by 8.15 percent and other incomes by 28.24 percent.

KAEF can reduce better net losses in the third quarter of 2023, namely Rp130.27 billion from the previous year of Rp184.14 billion or a decrease of 29.25 percent, although on the other hand there is an increase in interest rates.

David said KAEF remains optimistic that it can record positive sales growth until the end of 2023, through a series of strategies, namely operational excellence in all business chains, efficiency, improvement in product commercialization and optimization of capital working by focusing on Cash is King principles to be able to support overall operational improvements.

"We continue to be committed to providing service excellence to customers and carrying out transformations to achieve the goal of being at the forefront of health services in Indonesia," concluded David.