Sido Muncul Increases Export Sales Portion

JAKARTA - PT Industri Jamu and Pharmacy Sido Muncul Tbk (SIDO) targets the portion of export sales to increase by 15 percent from the previous 8 percent of the company's total sales.

Sido Muncul will target new countries to encourage export sales, such as Vietnam and several countries in Africa. SIDO Finance Director Budiyanto said the company hopes to increase export contribution by 15 percent or even higher within the next three to five years.

Budi explained that new export targets, such as Vietnam, were planned for the first delivery in the second half of this year. In addition, SIDO is also in talks with several countries on the African continent and other regions.

"So we are waiting for the contribution (export sales) to continue to increase to total sales," Budiyanto said at the 2024 Public Expose Live, Wednesday, August 28.

Along with this, Budiyanto explained the company's strategy to maintain financial performance and achieve better growth covering several steps. First, ensure growth in sales volume by improving the quality of distribution in sales outlets.

In addition, the company is expanding export coverage to new countries as a driving force for growth. Another effort from the company is to carry out efficiency in a sustainable manner, both in operation and in reducing expenses, so that costs can be reduced and net profit continues to increase.

"Or even exceeding the level of sales growth that has been achieved," said Budiyanto.