PT Kalbe Farma Tbk (KLBF) Q3 2024 earnings summary

Executive summary

• Net sales for the nine months ended September 30, 2024, grew 7.4% year-over-year to IDR 24.24 trillion, with positive organic growth across all business lines.

• EPS increased 15.7% year-over-year to Rp51.34, reflecting strong profitability and margin improvement.

• Net income attributable to owners rose 15.2% to IDR 2.38 trillion.

• Strategic partnerships, new product launches, and expansion in high-growth categories such as biologics and consumer health supported performance.

• Basic earnings per share rose from Rp44.39 to Rp51.34 year-over-year.

Financial highlights

• Gross profit increased 6.9% to IDR 9.52 trillion, with a stable gross margin of 39.3%.

• Operating profit grew 10.6% to IDR 3.09 trillion.

• Cash and cash equivalents at period end rose 53.6% year-to-date to IDR 4.17 trillion.

• Total assets as of September 30, 2024, were Rp28.75 trillion, with total equity at Rp23.91 trillion.

• Dividend payout ratio maintained at 45–55%.

Outlook and guidance

• Full-year 2024 sales growth expected at 6–7% and EPS growth at 13–15%.

• Capex guidance of IDR 1.0 trillion for production, distribution, and network expansion.

• Management continues to monitor macroeconomic and political risks, especially in Myanmar, and expects ongoing growth in core business segments.

• Focus on margin improvement, working capital efficiency, and leveraging digitalization.