Kalbe Farma, A Pharmaceutical Company Owned By The Conglomerate Boenjamin Setiawan, Generated Sales Of IDR 6.01 Trillion In The First Quarter Of 2021

Illustration. (Photo: Unsplash)

JAKARTA - The first quarter of 2021 is an exciting period for PT Kalbe Farma Tbk. The pharmaceutical company coded KLBF shares were able to record performance growth in the first three months of 2021.

Quoted from Kalbe Farma's financial report published on the Indonesia Stock Exchange (IDX) website, Sunday, May 2, KLBF pocketed a net profit of IDR 716 billion in the first quarter of 2021. The company's net profit, which is owned by conglomerate Boenjamin Setiawan, rose 7.1 percent compared to IDR 669 billion in the same period in 2020.

"Net profit growth is higher than net sales growth mainly due to increased efficiency in operating costs and lower tax rates", said Bernadus Karmin Winata, Finance Director of Kalbe Farma.

Kalbe's increase in profit was also supported by increased sales in the January to March 2021 period. In total, KLBF's net sales reached IDR 6.01 trillion in the first quarter of 2021, growing 3.8 percent compared to the first quarter of last year IDR 5.79 trillion.

To maintain sales growth, Kalbe Farma strives to innovate by providing more affordable services and products that are needed by the people of Indonesia. Companies are adapting by issuing health products (such as herbs, supplements, vitamins, and medicines) and testing and diagnostic services related to the COVID-19 pandemic.

Meanwhile, gross profit increased by 1.1 percent to IDR 2.65 trillion in the first quarter of 2021. The ratio of gross profit to sales decreased to 44.0 percent from 45.2 percent for the same period in the previous year. This is due to changes in the mixed product portfolio.

Profit before income tax in the first quarter of 2021 amounted to IDR 926 billion, an increase of 4.3 percent. Meanwhile, the profit margin before income tax reached 15.4 percent, up slightly from 15.3 percent in the same period the previous year.

Kalbe's total assets at the end of the first quarter reached IDR23.93 trillion. Total liabilities and equity were IDR 4.47 trillion and IDR 19.45 trillion, respectively.

Seeing the conditions of the COVID-19 pandemic which may continue until the end of the year, Kalbe is targeting net sales growth in 2021 of 5-6 percent with projected net profit growth in the same range.

KLBF also maintains a capital expenditure budget of IDR 1 trillion which will be used for the expansion of production and distribution capacity.

Kalbe also innovates through PT Kalbe Genexine Biologics by conducting collaborative research and clinical trials with third parties for Novel products in several countries in Southeast Asia, Australia, and the Middle East.

Kalbe Farma will also continue to coordinate with the Ministry of Health and the National Food and Drug Agency to conduct clinical trials of the COVID-19 vaccine. It is planned that clinical trials will be carried out in the second quarter of 2021 and will be marketed in the fourth quarter of this year.