PT Kalbe Farma Tbk (KLBF) Q1 2025 earnings summary

Executive summary

• Net sales grew 5.8% year-over-year in 1Q25 to IDR 8,845 bn, with all business segments contributing and positive organic top-line growth driven by volume and gross margin recovery.

• Net income rose 12.4% year-over-year to IDR 1,110 bn, with EPS up 13.9% to 23.57.

• Maintained strong market leadership in prescription pharmaceuticals, consumer health, and nutritionals, with continued innovation and strategic partnerships.

• Gross profit margin improved to 41.6% from 39.7% year-over-year, reflecting better cost management.

• Operating cash flow was IDR 344.6 bn, with a net decrease in cash and equivalents of IDR 197.2 bn during the quarter.

Financial highlights

• Gross profit increased 10.7% year-over-year to IDR 3,676 bn, with gross margin improving to 41.6%.

• Operating profit grew 13.2% to IDR 1,381 bn, and net income margin improved to 12.6%.

• Cash and cash equivalents at end of 1Q25 stood at IDR 4,543 bn, with a healthy net cash position.

• Total assets were IDR 30,580 bn and total equity IDR 25,360 bn as of March 31, 2025.

• EBITDA margin remained robust at 14.4%.

Outlook and guidance

• Full-year 2025 guidance targets 8–10% sales and net profit growth, with a dividend payout ratio of 45–55%.

• Capex planned at IDR 1.0 tn for production, distribution, and network expansion.

• Management continues to monitor macroeconomic and political risks, especially in Myanmar.

• Capital projects and expansion in progress across manufacturing and distribution.