JAKARTA – Despite 6.5% year-on-year (yoy) growth in its revenue in Q3 2023, the net profit of PT Kalbe Farma Tbk (KLBF) reported 16.9% yoy decrease. This slippage is due to transition period post-COVID-19.

In the press release quoted Wednesday (22/11), Kartika Setiabudy, Chief Financial Officer (CFO) of Kalbe Farma, said that the revenue was reported reaching IDR 22.56 trillion, shifting from IDR 21.18 trillion in Q3 2022. The gross profit also increased from IDR 8.73 trillion to IDR 8.90 trillion.

“Although being faced with challenging market condition, the company believes that the healthcare industry will remain thriving in the long run as the health awareness improves,” said Setiabudy.

In Q3 2023, the primary contributor of the revenue were distribution and logistics segment of IDR 8 trillion, followed by nutrition of IDR 5.89 trillion, prescribed drugs of IDR 5.79 trillion, and healthcare products of IDR 2.86 trillion. For comparison, in Q3 2022, distribution and logistics segment generated sales of IDR 7.57 trillion, followed by nutrition of IDR 5.75 trillion, prescribed drugs of IDR 4.40 trillion, and healthcare products of IDR 3.26 trillion.

It is mentioned that the company has revised the revenue growth projection to 5%-7%, while the net profit is projected to lower by 12%-15% at the end of this year. “The company is committed to maintain product supply and minimise the impact of raw materials’ price surge through price and portfolio adjustment,” Setiabudy explained. (LK/ZH)