Jakarta, 31 July 2023 - PT Kimia Farma Tbk (“KAEF”), a pioneer in the Indonesian healthcare industry that provides an integrated business chain from upstream to downstream, managed to record positive performance in the first half of 2023. The company has successfully implemented a focused and consistent strategy on long-term profitability growth.
The transformation carried out by Kimia Farma is reflected in the company's financial performance from January to June 2023. Until the end of June 2023, Kimia Farma was able to record revenue of IDR 4.95 trillion. Revenue in the first half of this year increased by 11.78% on an annual basis or year-on-year (yoy) compared to the same period the previous year, which was IDR 4.43 trillion.
"Kimia Farma's consolidated revenue achievement until June 2023 was supported by strong product sales and increased medical laboratory and clinical services," said David Utama, President Director of PT Kimia Farma Tbk.
David said, in terms of product category, generic drugs contributed revenue of IDR 1.07 trillion, an increase of around 25.26% from IDR 858.96 billion. In addition, sales of ethical products and licenses also increased by 13.99% to IDR 1.89 trillion, compared to the same period in 2022, which was IDR 1.65 trillion.
Amidst the ongoing rebranding, medical laboratory and clinic services are contributing well to revenue. The financial report recorded the achievement of medical laboratory and clinic services amounting to IDR 488.16 billion, an increase of 16.60% from the previous year which amounted to IDR 418.66 billion.
The sales of over the counter (OTC) drugs and cosmetics grew 4.85%, from the 2022 period of IDR 1.01 trillion to IDR 1.06 trillion in the first semester of 2023. Meanwhile, the medical equipment category contributed IDR 49.02 billion, contracted 14.75% compared to the previous year's period of IDR 57.50 billion.
The increase in revenue caused this issuer to record a positive operating profit of IDR 236.29 billion. This achievement is inversely proportional to the same period in 2022 where Kimia Farma still recorded an operational loss of IDR 15.67 billion.
"The achievement of this positive performance was able to boost Kimia Farma's bottom line by recording a net profit of IDR 19.47 billion during the first half of 2023. When compared to the same period last year, Kimia Farma recorded a net loss of IDR 206.30 billion," said David.
Impressive growth also occurred on the asset side. Kimia Farma recorded total assets of IDR 20.60 trillion in the first semester of 2023. This figure experienced a growth of around 1.21% compared to the previous year's period of IDR 20.35 trillion.