JAKARTA State-Owned Enterprises (BUMN) engaged in the pharmaceutical sector, PT Kimia Farma Tbk., is said to have managed to record a positive cash flow of IDR 2.1 trillion throughout 2022.
Kimia Farma President Director David Utama said the slick score increased compared to the 2021 period of IDR 748 billion.
"This is supported by the corporate action of the subsidiary of PT Kimia Farma Apotek (KAF)," he said in a written statement on Wednesday, March 5.
According to David, the company has made efficiency in supporting business continuity through a decrease in operating expenses of 5.4 percent or Rp189 billion. He said Kimia Farma implemented a strategy to optimize distribution costs for all products.
"In addition, we are trying to reduce the financial burden by 14.2 percent, supported by bank support through lowering interest rates and investment loans and refinancing," he said.
Furthermore, David explained that this unlock value corporate action supports working capital and business development. Meanwhile, after the lockdown of KFA's corporate action, it generated Rp1.86 trillion in funds accompanied by tax acquisition of Rp76 billion.
In addition, in 2022 another subsidiary, namely KF Dawaa in Saudi Arabia, posted a loss of Rp. 24 billion due to the absence of Hajj and Umrah activities during the pandemic. Through the corporate action and the condition of the child's entity, it has an impact on recording losses of Rp. 109 billion.
Kimia Farma that the prospect of the pharmaceutical industry and health services in 2023 is still experiencing growth, considering that health is one of the main factors that is the concern of all parties," he said.
David also said that this year the company carried out several strategies to improve performance, including massive marketing activities and market penetration. Then, Kimia Farma has also conducted Non Deal Roadshow (NDR) with investors to get new businesses. "We continue to make improvements to improve the quality and reach of health services to the community. Kimia Farma is optimistic that in 2023 performance can grow and contribute to positive profit, while at the same time supporting the government in improving health," he explained.
As a state-owned company, Kimia Farma also participated in organizing the COVID-19 vaccination program, providing and distributing drugs throughout Indonesia.
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