Pt Kalbe Farma Tbk · IDX:KLBF
Pt Kalbe Farma Tbk — Q1 2025 Earnings Presentation
47 slides from Pt Kalbe Farma Tbk's earnings presentation, May 2025
Slide 1: Company Update 1Q25
Company Update 1Q25 PT Kalbe Farma Tbk May 2025
Slide 2: Forward-Looking Statement
Forward-Looking Statement This presentation has been prepared for informational purposes only by PT Kalbe Farma Tbk. (“Kalbe” or the “Company”). This presentation has been prepared solely for use in connection with the release of 31 March 2025 unaudited results of the Company. The information contai
Slide 3: Table of Content
Table of Content • Key Updates 04 • Business Strategies 08 • Financial Overview 23 • Appendix 1 30 • Appendix 2 37
Slide 4: Key Updates
y Key Updates
Slide 5: More than Half a Century of Providing Wide-Range Healthcare Solutions
More than Half a Century of Providing Wide-Range Healthcare Solutions Corporate Overview Market Capitalization Indonesian integrated healthcare company with regional footprint IDR 53.2 tn ($3.2 bn)* free float 1966 1991 Onwards Established, headquartered Listed in the The most integrated 42.01%* in
Slide 6: Solid Foundation for Future Growth
Solid Foundation for Future Growth Key Takeaways Strategic Partnerships and Investments 1Q25 unaudited 1Q25 unaudited 5.8% Net Sales growth 13.9% EPS growth Strengthening product portfolio through Strategic Partnership with Alliance Pharma Co.,Ltd. collaboration (Thailand) Key Updates Zerpidio and E
Slide 7: Driving Growth and Improving Healthcare Resilience through Innovation
Driving Growth and Improving Healthcare Resilience through Innovation 2025 Key Strategies Investing for long term growth through innovation and collaboration Prescription Medical International Consumer Health Distribution Pharmaceuticals Devices Market & Nutritionals & Logistics Innovative Biologics
Slide 8: Business Strategies
y Business Strategies
Slide 9: Driving Top Line Growth with Portfolio Strategy
Driving Top Line Growth with Portfolio Strategy Prescription Pharmaceuticals Building Participation in Enhance Business Specialty Portfolio National Health Growth Growing specialty category Insurance by leveraging on by commercialization and Consistent growth strong commercial expansion of innovativ
Slide 10: Strategic Collaborations to Accelerate Growth
Strategic Collaborations to Accelerate Growth Prescription Pharmaceuticals Sustaining Business Expansion through Strategic Partnerships Oncology Livzon Pharma Indonesia Shareholder Agreement Signing Jul 2024 To locally manufacture more advanced pharmaceuticals ingredients for the export market, by l
Slide 11: Innovative Biologics Products
Innovative Biologics Products Prescription Pharmaceuticals Approved Novel Biologics Strengthening Portfolio in Zerpidio (HLX10 – Serplulimab) Oncology • Approved in Dec 2023, commercialization in 2024 • Approved by local FDA in Thailand Serplulimab (Zerpidio 100 mg) Signing ceremony with Henlius for
Slide 12: Sustained Growth Post-Pandemic
Sustained Growth Post-Pandemic Prescription Pharmaceuticals 13.0% 28.1% Net Sales growth - 1Q25 Contribution From Rp2,196 bn to 2,481 bn to total net sales Kalbe Unbranded 12% Licensed generics a 26% 50.9% 28% 9% b Contribution Gross Profit Margin - 1Q25 Market Share 6% c others • Decreased from 52.
Slide 13: Rejuvenating Our Strong Brands to Win the Market
Rejuvenating Our Strong Brands to Win the Market Consumer Health Expanding Driving Customer Base Product Innovation Leveraging solid customer Expanding to preventive base in OTC and health categories as future supplement with brand growth driver rejuvenation, branding and positioning
Slide 14: Expanding into Preventive Category
Expanding into Preventive Category Consumer Health Driving product innovation and new product launches in potential categories Strong Customer Loyalty ~30-70% market share in new new relevant categories Source: Market Share - IQVIA 4Q24 Extra Joss Promag Entrostop Mixagrip Komix Woods Procold Sakato
Slide 15: Market Normalization Post-Covid
Market Normalization Post-Covid Consumer Health 9.1% 15.4% Net Sales growth - 1Q25 Contribution From Rp1,247 bn to 1,360 bn to total net sales Kalbe 10% a 3% Health b 3% Supplement 66.0% 27% c 3% d 2% Gross Profit Margin - 1Q25 Market Share e 1% • Increased from 63.6% in 1Q24 due to lower raw materi
Slide 16: Navigating the Market and Driving Future Growth
Navigating the Market and Driving Future Growth Nutritionals Extensive Strong Product Portfolio Product Innovation Complete product offering Expanding to affordable and for all life stages with ready-to-drink categories strong functionality
Slide 17: Complete Portfolio Base for Future Expansion
Complete Portfolio Base for Future Expansion Nutritionals Performs above the market New product launches Extensive Portfolio to Serve All Ages and Segments Expecting Mothers Lactating Mothers Kids Teens Adults Senior Clinical -4.2% Powdered Milk Market Nielsen FY24 new new new new new new new
Slide 18: Navigating Market Challenges
Navigating Market Challenges Nutritionals -0.9% 24.0% Net Sales growth - 1Q25 Contribution From Rp2,146 bn to 2,127 bn to total net sales others Kalbe Specialty f 9% 15% 14% 4% e 54.2% 7% d Gross Profit Margin - 1Q25 Adults Contribution 4% Market Share a • Increased from 51.2% in 1Q24 due to lower r
Slide 19: Strong Distribution Network in Healthcare, Supported by Digital Expansion
Strong Distribution Network in Healthcare, Supported by Digital Expansion Distribution and Logistics Strong Distribution Leveraging Optimizing Distribution Infrastructure digitalization Network Expansive multi-channels through EMOS and Optimized medical and network with coverage in 71 MOSTRANS B2B d
Slide 20: Extensive Network in Pharmaceuticals Distribution
Extensive Network in Pharmaceuticals Distribution Distribution & Logistics Major Third-Party Principals Prescription Pharmaceuticals +200K Outlets +200K Consumer 71 Branches Medical Instrument & Diagnostic Fine Chemical Raw Materials 3 3 Distribution Center (DC)
Slide 21: Moving Towards Local Manufacturing & Assembly
Moving Towards Local Manufacturing & Assembly Medical Devices • Accelerate technology transfer to build local Surgical Suture, Mobile X-ray, and Dialyzer Facility manufacturing capabilities • Meet the local content requirements for JKN Program Consumables Surgical Suture Mobile X-ray Dialyzer Indige
Slide 22: The Largest Distribution Network in Healthcare, Supported by Digital Expansion
The Largest Distribution Network in Healthcare, Supported by Digital Expansion Distribution and Logistics 3.7% 32.5% Medical Raw Material • Managed by PT Enseval Putera Trading Net Sales growth - 1Q25 Contribution Devices 5% 8% Megatrading Tbk (EPMT IJ), a From Rp2,774 bn to 2,877 bn to total net sa
Slide 23: Financial Overview
y Financial Overview
Slide 24: Continued Top-line Growth
Continued Top-line Growth Consolidated Operational Performance Net Sales 5.8% In IDR bn (unaudited) 8,845 8,363 13.0% 9.1% -0.9% 3.7% 2,774 2,877 2,196 2,481 2,146 2,127 1,247 1,360 Prescription Consumer Health Nutritionals Distribution & Logistics Total Pharmaceuticals Mar 24 Mar 25
Slide 25: Sustaining Margin
Sustaining Margin Consolidated Operational Performance Gross Profit Operating Expenses to Net Sales Net Income 10.7% 12.4% 25.1% 25.9% 11.4% 12.2% 39.7% 41.6% 1.1% 1.2% 4.3% 4.3% R&D Expenses G&A Expenses Selling Expenses 3,676 19.7% 20.4% 1,077 3,321 958 Mar 24 Mar 25 Mar 24 Mar 25 Mar 24 Mar 25 •
Slide 26: Securing Product Availability by Managing Inventory
Securing Product Availability by Managing Inventory Working Capital Management Managing Net Operating Cycle • Normalizing inventory level • Improving working capital by building strong relationships with clients and suppliers • Consistently managing supply chain challenges and ensuring product avail
Slide 27: Healthy Cash Balance to Support Operation and Business Expansion
Healthy Cash Balance to Support Operation and Business Expansion Capital Allocation Total Debt & Gearing Ratio Cash & Cash Equivalent 5.1% 1,200 7.0% 6.0% 6,216 1,000 5.0% 5,590 6.0% 4,723 4,336 800 4.0% 4,543 4,195 2.6% 2.5% 3,950 5.0% 3,232 600 1,116 1.6% 1.4% 3.0% 2,833 2,656 4.0% 400 2.0% 560 57
Slide 28: Securing Top and Bottom Line Growth
Securing Top and Bottom Line Growth Outlook 2025 Driving top line growth across Consistently optimizing Sustaining profitability businesses shareholders' return YoY Sales Growth Net Profit Growth Dividend Payout 8 to 10% 8 to 10% Ratio 1Q25 Unaudited : 12.4% 45 to 55% 1Q25 Unaudited : 5.8% Assumptio
Slide 29: For further information : PT Kalbe Farma Tbk
For further information : PT Kalbe Farma Tbk | Jalan Let. Jend. Suprapto Kav. 4 | Jakarta 10510, Indonesia Tel. : 62-21-42873888 | Fax. : 62-21-42873678 Email : [email protected] [email protected]
Slide 30: Appendix 1
y Appendix 1
Slide 31: Sustained Top-line Growth and Resilient Margins Over a Decade
Sustained Top-line Growth and Resilient Margins Over a Decade Key Takeaways 16,367 16,157 • Sustained consolidated top-line growth at CAGR 6.2% over 15,227 15,731 14,567 a decade. • Resilient margins (Operating Profit Margin at 14%-15% in 2014-2022) reflecting a well-managed operational Gross 48.0%
Slide 32: Focus on Increasing National Healthcare Resiliency amidst Macroeconomy Dynamics
Focus on Increasing National Healthcare Resiliency amidst Macroeconomy Dynamics Market Overview • Managing risks ofdecreasing purchasing power, customers behavior shift, amidst currency volatility and geopolitical issue GDP CPI Inflation Consumer Confidence Index 2020 2021 2022 2023 2024 Q1 2025 Sou
Slide 33: Growing National Health Insurance Coverage and Increasing Health Budget
Growing National Health Insurance Coverage and Increasing Health Budget Healthcare Industry Overview Population In million National Health Insurance (JKN) Coverage 300 61.0% 66.1% 71.6% 78.5% 83.9% 82.3% 86.1% 90.7% 95.2% 98.2% 120% 250 100% 200 80% 150 273.9 274.2 280.7 281.6 60% 257.2 260.0 262.4
Slide 34: Ensuring Compliance and Support to Government Strategic Programs
Ensuring Compliance and Support to Government Strategic Programs Recent Pharma Regulations Government Regulation Number 42 of 2024 • Requirement of Halal certification to the pharma products The Ministry of Trade Regulation (Permendag) Number 8 of 2024 along with Permendag Number 7 of 2024 concernin
Slide 35: Access to Healthcare for a Better Life
Access to Healthcare for a Better Life Gradual Improvement of ESG Practices Based on International Standard Environment Energy efficiency and CO2 emission reduction Gradually moving towards energy efficiency and CO2 emission reduction through renewable energy by E installing solar panels in our new
Slide 36: Sustainability Activities
Sustainability Activities Improving Access to Healthcare and Implementing Responsible Business Practices Proper Hijau Renal Total Solution Indigen for TB Kits Solar Panel Received the 2024 Proper Hijau for PT Kalbe Farma Improving the quality of life of chronic Kalgen DNA through Ditjen P2PM has Sup
Slide 37: Appendix 2
y Appendix 2
Slide 38: Financial Statement
Financial Statement CONSOLIDATED STATEMENT Dec 24 Mar 25 Change YTD OF FINANCIAL POSITION (Audited) (Unaudited) ASSETS CURRENT ASSETS Cash and Cash Equivalents 4,723,293,839,405 4,542,833,756,938 -3.8% Trade Receivables 4,864,547,870,520 6,012,052,674,044 23.6% Other Receivables 148,612,646,647 203,
Slide 39: Financial Statement
Financial Statement CONSOLIDATED STATEMENT Dec 24 Mar 25 Change YTD OF FINANCIAL POSITION (Audited) (Unaudited) LIABILITIES CURRENT LIABILITIES Short-term Bank Loans 269,100,000,000 239,250,000,000 -11.1% Trade Payables 1,892,169,477,879 2,169,052,137,308 14.6% Other Payables 932,268,893,743 828,333
Slide 40: Financial Statement
Financial Statement CONSOLIDATED STATEMENT Dec 24 Mar 25 Change YTD OF FINANCIAL POSITION (Audited) (Unaudited) EQUITY Capital Stock - Issued and Fully Paid 468,751,221,100 468,751,221,100 0.0% Additional Paid-in Capital, Net (29,060,429,594) (29,060,429,594) 0.0% Differences Arising from Transactio
Slide 41: Financial Statement
Financial Statement CONSOLIDATED STATEMENT OF PROFIT OR LOSS Mar 24 Mar 25 Change yoy AND OTHER COMPREHENSIVE INCOME (Unaudited) (Unaudited) NET SALES 8,363,028,651,272 8,845,368,157,355 5.8% COST OF GOODS SOLD (5,041,736,437,452) (5,169,098,276,338) 2.5% GROSS PROFIT 3,321,292,213,820 3,676,269,881
Slide 42: Financial Statement
Financial Statement CONSOLIDATED STATEMENT OF PROFIT OR LOSS Mar 24 Mar 25 Change yoy AND OTHER COMPREHENSIVE INCOME (Unaudited) (Unaudited) INCOME BEFORE INCOME TAX EXPENSE 1,267,573,944,851 1,429,263,802,665 12.8% % to NS 15.2% 16.2% INCOME TAX EXPENSE (279,996,230,340) (318,805,978,265) 13.9% % t
Slide 43: Financial Statement
Financial Statement CONSOLIDATED STATEMENT OF PROFIT OR LOSS Mar 24 Mar 25 Change yoy AND OTHER COMPREHENSIVE INCOME (Unaudited) (Unaudited) Income (Loss) for the Period Attributable to: Owners of the Parent Company 957,560,071,712 1,076,772,395,269 12.4% Non-controlling Interests 30,017,642,799 33,
Slide 44: Financial Statement
Financial Statement Mar 24 Mar 25 CONSOLIDATED STATEMENT OF CASH FLOWS Change YoY (Unaudited) (Unaudited) CASH FLOWS FROM OPERATING ACTIVITIES Cash received from customers 8,668,453,458,981 8,696,363,557,367 0.3% Cash payments to suppliers and employees (5,434,323,587,063) (6,144,584,590,698) 13.1%
Slide 45: Financial Statement
Financial Statement Mar 24 Mar 25 CONSOLIDATED STATEMENT OF CASH FLOWS Change YoY (Unaudited) (Unaudited) CASH FLOWS FROM INVESTING ACTIVITIES Interest income received 29,443,717,098 39,179,483,047 33.1% Withdrawal of other current financial assets 15,000,000,000 - -100.0% Proceeds from sale of fixe
Slide 46: Financial Statement
Financial Statement Mar 24 Mar 25 CONSOLIDATED STATEMENT OF CASH FLOWS Change YoY (Unaudited) (Unaudited) CASH FLOWS FROM FINANCING ACTIVITIES Proceeds from convertible note 126,368,000,000 - -100.0% Proceeds from short-term bank loans 6,800,000,000 31,650,000,000 365.4% Payments of finance payables
Slide 47: Financial Statement
Financial Statement Dec 23 Dec 24 CONSOLIDATED STATEMENT OF CASH FLOWS Change YoY (Audited) (Audited) NET INCREASE (DECREASE) IN CASH 961,555,443,364 (197,227,651,569) -120.5% AND CASH EQUIVALENTS Net Effect of Changes in Foreign Exchange Rates of Foreign Currency Denominated Cash and Cash Equivalen