PT Kalbe Farma Tbk (KLBF) Q4 2024 earnings summary

Executive summary

• Achieved consolidated net sales of IDR 32,628 bn in FY24, up 7.2% year-over-year, with all business segments except Nutritionals posting growth.

• Net income rose 17.1% year-over-year to IDR 3,241 bn, with EPS up 17.3% to 70.16.

• Gross profit margin improved to 39.7% from 38.8% in FY23, driven by stabilized raw material prices.

• Maintained strong cash position with cash and equivalents at IDR 4,723 bn, up 46.1% year-over-year.

• Continued investment in innovation, strategic partnerships, and local manufacturing to drive future growth.

Financial highlights

• Net sales: IDR 32,628 bn (+7.2% YoY); gross profit: IDR 12,957 bn (+9.6% YoY); net income: IDR 3,241 bn (+17.1% YoY).

• Operating profit increased 12.9% YoY to IDR 4,170 bn.

• EBITDA margin at 15.0% in FY24.

• Dividend payout ratio maintained at 48%.

• Share buyback of ~IDR 1.0 tn, representing 1.97% of shares.

Outlook and guidance

• Targets 8–10% YoY sales and EPS growth for 2025, assuming stable macroeconomic conditions.

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

• Dividend payout ratio guidance of 45–55%.