Indofarma's Swelling Loss 41 Percent To IDR 605 Billion

PT Indofarma (Persero) Tbk PT throughout 2023 recorded a net loss of IDR 605 billion. (Photo: Indofarma)

JAKARTA - PT Indofarma Tbk throughout 2023 recorded a net loss of IDR 605 billion.

This amount swelled by 41 percent when compared to the same period the previous year which was recorded at IDR 428 billion.

This was conveyed by the President Director of Bio Farma Shadiq Akasya in a meeting with Commission VI of the DPR, at the DPR Building, Jakarta, Wednesday, June 19.

"Net income decreased from 2022 amounting to IDR 428 billion negative to IDR 605 billion in 2023, due to the collection of receivables of IDR 46 billion and the existence of tax-related costs of approximately IDR 120 billion," said Shadiq.

Furthermore, Shadiq said Indofarma's revenue continued to decline from 2021 to 2023, both income and profitability. Where in 2023, Indofarma recorded revenue of IDR 524 billion.

"Income of Rp524 billion decreased by 54.2 percent," saidq.

Shadiq said the revenue was dominated by domestic product sales of IDR 501 billion, for ethical products in IDR 311 billion, and an increase in export revenue in 2022 of IDR 22 billion.

Meanwhile, continued Shadiq, the negative 2023 EBITDA of IDR 293 billion increased compared to the previous year's minus IDR 361 billion.

"This is due to a decrease in marketing and disbursement expenses in line with the decline in sales and the implementation of efficiency for various office operational costs," he said.

Then, continued Shadiq, Indofarma's total assets also decreased to Rp933 billion from Rp1.53 trillion previously. Meanwhile, liabilitad was recorded at Rp1.54 trillion.

Indofarma also recorded negative equity of IDR 615 billion. This amount is inversely proportional to the previous year which was recorded positive of IDR 86 billion.