Sido Muncul, This Tolak Angin And Kuku Bima Manufacturer Of Conglomerate Irwan Hidayat Plans To Export To Africa In 2022
Conglomerate Irwan Hidayat. (Photo: Doc. Sido Appears)

JAKARTA - PT Industri Jamu dan Farmasi Sido Muncul Tbk (SIDO) is eyeing new export destinations in 2022. The confidence of the Tolak Angin and Kuku Bima producers is driven by the company's success in marketing their products to existing destination countries such as Nigeria and Malaysia.

SIDO Finance Director Leonard said the company owned by conglomerate Irwan Hidayat would still focus on maintaining the recovery of export sales to the two main contributors, namely Nigera and Malaysia. Until the first semester of 2021, the contribution of overall export sales has reached 3 percent of the total consolidated sales.

"The pandemic condition is still uncertain, especially in countries that import. Therefore, we will be more careful with export expansion in 2021", Leonard said in a Public Expose Live held by the Indonesia Stock Exchange (IDX), Thursday, September 9.

For the record, SIDO was able to score positive product export sales in the first semester of 2021. Sido Muncul's export sales managed to grow 94 percent compared to the same period last year.

Meanwhile, Sido Muncul's overall sales recorded an increase of 13.79 percent in the first semester of 2021. From the previous IDR 1.45 trillion in the first semester of 2020 to IDR 1.65 trillion in the first six months of 2021.

Leonard added, in 2022 SIDO will start targeting export destinations to countries that have not been entered, such as Vietnam, Myanmar, and countries in Africa. Sido Muncul's export growth this year was supported by the sale of their energy drink product, Kuku Bima Energy.

Regarding performance in the remainder of 2021, SIDO is optimistic that it will be able to achieve maximum growth. They are targeting to be able to record net profit growth of up to 15 percent on an annual basis or year on year (yoy).

"We believe the target is to be able to achieve 15 percent growth. In the third quarter of 2021, although the books have not been closed, the demand for Sido Muncul health products, such as Tolak Angin, Vitamin C, ginger drinks, is very high", close Leonard.

As of June 2021, Sido Muncul recorded a profit for the period attributable to owners of the parent entity of IDR 502 billion. This achievement rose 21.31 percent from the previous IDR 413.79 billion in the first semester of 2020.


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