Bio Farma Records A Net Loss Of IDR 1.16 Trillion Throughout 2024

Illustration (Photo: Doc. ANTARA)

JAKARTA - Holding BUMN Pharmacy, PT Bio Farma (Persero) posted a net loss of IDR 1.16 trillion (unaudited) throughout 2024.

However, this figure has decreased from the previous year's IDR 2.04 trillion.

President Director of Bio Farma, Shadiq Akasya, explained that the company is still recording losses in 2024. Even so, he said, his position improved.

"Losses will continue in 2024, although his position has improved compared to the previous year," he said at a Hearing Meeting (RDP) with Commission VI of the DPR, in Jakarta, Thursday, May 8.

Despite still recording losses, Shadiq said the company's performance began to show recovery at the beginning of this year. Until the first quarter of 2025, Bio Farma as a group has posted a net profit of IDR 380 billion.

From the top line, continued Shadiq, Bio Farma also recorded fluctuating sales. Where in 2020, the company achieved sales of IDR 14.3 trillion. Then, in 2021 it jumped to IDR 43.46 trillion, at which time there was a COVID-19 pandemic.

After the pandemic subsided, continued Shadiq, the company's sales fell to IDR 15.23 trillion in 2023 and last year it was estimated to record IDR 15.71 trillion. Until the first quarter of 2025, Bio Farma's net sales reached IDR 3.66 trillion.

Meanwhile, in terms of profit before interest, tax, depreciation, and amortization (EBITDA), continued Shadiq, reached Rp190 billion throughout last year.

"Then the EBITDA in 2025 has shown positive, which is Rp730 billion," he said.

In the midst of these financial conditions, continued Shadiq, the company has prepared three strategic stages in the long term.

In the first phase or during 2025 to 2026, the company will focus on strengthening fundamentals.

Including strengthening the governance of holding, financial restructuring, structuring of the business portfolio architecture, as well as strengthening production and distribution facilities.

In the second phase from 2027 to 2028, Shadiq said, Bio Farma will target expansion plans through intensification and extensification. Where will refocus the business portfolio and develop new products to increase growth.

"Starting in 2029 onwards, we are targeting holding companies that are profitable and sustainable by maintaining high net margins, working capital efficiency, and sustainable business portfolios," he said.