Newly Appearing Sido Capex Is Used For IDR 27 Billion Until Semester I 2024

Photo: Doc. Sido Muncul

JAKARTA - PT Industri Jamu dan Pharmacy Sido Muncul Tbk (SIDO) baru menggunakan capex Rp27 miliar hingga semester I 2024 dari total Rp200 miliar yang diggaran untuk tahun ini.

"On the capital expenditure or budget for this year, it is IDR 150-200 billion, most of which is intended for asset maintenance," said Budiyanto, Finance Director of PT Industri Jamu and Pharmacy Sido Muncul Tbk (SIDO), during Public Expose Live, Wednesday, August 28.

The capital expenditure, he said, would be a little allocated to increase capacity in the pharmaceutical segment, because the utilization had reached 85 percent.

Meanwhile, SIDO admitted that until now there is no plan to expand or add new factories in the country or factories abroad.

"If the addition of new factories in the second semester of this year or 2025, we have no plans in the near future to add new factories because the capacity of our factories is still very sufficient to serve the domestic and export markets," he said.

Budiyanto further said that currently, factory utilization is still at 50 percent on average and it serves the needs and domestic and export markets. So for the new factory, it is not yet in SIDO's plan. Then, Budiyanto said that for the planned launch of new products, SIDO always launches around 2-3 new products that are tailored to consumer needs and based on scientific innovation.

"For this year throughout 2024 we have launched 4 new products," he added.

To note, PT Industri Jamu and Pharmacy Sido Muncul Tbk (SIDO) recorded a net profit of IDR 608 billion in the first semester of 2024, growing by 36 percent from IDR 448 billion in the first semester of 2023. SIDO has the main segment, namely herbs and supplements that contributed 59 percent of sales with the main product, namely Tolak Angin.

In addition, the SIDO food and beverage segment also contributed 38 percent of sales and pharmaceuticals contributed 3 percent of sales.