Pt Kalbe Farma Tbk · IDX:KLBF
Pt Kalbe Farma Tbk — H1 2026 Earnings Presentation
47 slides from Pt Kalbe Farma Tbk's earnings presentation, July 2026
Slide 1: Company Update 1H26
PT Kalbe Farma Tbk (KLBF IJ/KLBF.JK) Company Update 1H26 YTD Jun 2026 July 2026 1
Slide 2: Forward-Looking Statement
Forward-Looking Statement This presentation has been prepared for informational purposes only by PT Kalbe Farma Tbk. (“Kalbe” or the “Company”). This presentation has been prepared solely for use in connection with the release of 30 June 2026 unaudited results of the Company. The information contain
Slide 3: Table of Contents
04 Key Updates 09 Business Strategy Table of Contents 24 Financial Overview 30 Appendix I 36 Appendix II 3
Slide 4: Key Updates
Key Updates 4
Slide 5: More than Half a Century of Providing Wide-Range Healthcare Solutions
Key Updates Business Strategy Financial Updates Appendix I Appendix II More than Half a Century of Providing Wide-Range Healthcare Solutions Corporate Overview Establishment : 1966 | IDX Listed : 1991 7% 93% Market Capitalization International Domestic IDR 35.81 tn | USD 2.01 bn Distribution & Logis
Slide 6: Solid Fundamentals for Future Growth
Key Updates Business Strategy Financial Updates Appendix I Appendix II Solid Fundamentals for Future Growth Key Takeaways 14.0% Key Updates • Positive organic top-line Key Challenges • Pressure on purchasing Mitigation • Securing raw Net Sales Growth growth driven by volume power in the domestic mat
Slide 7: Driving Growth and Improving Healthcare Resilience through Innovation
Key Updates Business Strategy Financial Updates Appendix I Appendix II Driving Growth and Improving Healthcare Resilience through Innovation 2026 Key Strategies Investing for long term growth through innovation and collaboration Prescription Consumer Health & Distribution & Logistics International M
Slide 8: Rejuvenating Our Strong Brands to Win the Market
Key Updates Business Strategy Financial Updates Appendix I Appendix II Rejuvenating Our Strong Brands to Win the Market 8
Slide 9: Business Strategy
Business Strategy 9
Slide 10: Driving Top Line Growth with Portfolio Strategy
Key Updates Business Strategy Financial Updates Appendix I Appendix II Building Specialty Portfolio Growing specialty category by Prescription Pharmaceuticals commercialization and expansion of innovative portfolio, supported by local manufacturing Driving Top Line Growth with Participation in Natio
Slide 11: Strategic Collaborations to Accelerate Growth
Key Updates Business Strategy Financial Updates Appendix I Appendix II Strategic Collaborations to Accelerate Growth Prescription Pharmaceuticals Complete product range in all segments covering licensed, branded and unbranded generics Dec 2022 Global Starway Synergy Oncology Securing raw materials a
Slide 12: Innovative Specialty Products
Key Updates Business Strategy Financial Updates Appendix I Appendix II Innovative Specialty Products Prescription Pharmaceuticals Manufacturing Facilities Specialty Portfolio Biologics 1. Biologics Facility in Cikarang Serplulimab Efepoetin Alfa Efesa Zerpidio • Factory obtained TGA GMP • Approval f
Slide 13: Sustaining Growth Through Our Complete Portfolio
Key Updates Business Strategy Financial Updates Appendix I Appendix II Sustaining Growth Through Our Complete Portfolio Prescription Pharmaceuticals 7.3% Licensed Net sales growth Unbranded from Rp4,941 bn to 5,300 bn generics Kalbe 28% 28% 14% 46.9% a 10% Gross profit margin b 6% from 50.6% due to
Slide 14: Rejuvenating Our Strong Brands to Win the Market
Key Updates Business Strategy Financial Updates Appendix I Appendix II Consumer Health Expanding Customer Base Leveraging a solid customer base in OTC Rejuvenating Our and Health Supplements with brand rejuvenation, branding and positioning Strong Brands to Win the Market Driving Product Innovation
Slide 15: Expanding into Preventive and Non-Curative Category
Key Updates Business Strategy Financial Updates Appendix I Appendix II Expanding into Preventive and Non-Curative Category Consumer Health ~30-70% market share in relevant categories Extra Joss Promag Entrostop Mixagrip Komix Woods Procold (Energy Drink) (Antacids) (Anti Diarrhea) Source: IQVIA 4Q24
Slide 16: Driving Growth Through Brand Rejuvenation
Key Updates Business Strategy Financial Updates Appendix I Appendix II Driving Growth Through Brand Rejuvenation Consumer Health 10.9% Health Net sales growth Supplements Kalbe 10% from Rp2,445 bn to 2,710 bn a 6% 28% b 5% 64.3% OTC Market Share c 4% d 4% Gross profit margin e 3% from 64.7% due to r
Slide 17: Navigating the Market and Driving Future Growth
Key Updates Business Strategy Financial Updates Appendix I Appendix II Nutritionals Solid Product Portfolio Navigating the Market Compelling portfolio consisting of functional nutritionals and healthy lifestyle products and Driving Future Growth Strengthening Brand Equity Investing to strengthen bra
Slide 18: Complete Portfolio for Future Expansion
Key Updates Business Strategy Financial Updates Appendix I Appendix II Complete Portfolio for Future Expansion Nutritionals Senior & Clinical Expecting Mothers Complete product offering for all life stages with strong Adults Lactating Mothers functionality Teens Kids 18
Slide 19: Navigating Market Challenges
Key Updates Business Strategy Financial Updates Appendix I Appendix II Navigating Market Challenges Nutritionals 6.5% Specialty Net sales growth others Kalbe from Rp4,004 bn to 4,264 bn 14% f 8% 16% 3% e 52.9% 7% Kids d Adults 4% Market Gross profit margin 59% Share a from 55.3% due to raw materials
Slide 20: Strong Distribution Network in Healthcare, Supported by Digital
Key Updates Business Strategy Financial Updates Appendix I Appendix II Distribution and Logistics Strong Distribution Infrastructure Expansive multi-channel network with Strong Distribution coverage in 72 branches Network in Healthcare, Supported by Digital Leveraging Digitalization through EMOS and
Slide 21: Extensive Network in Pharmaceuticals Distribution
Key Updates Business Strategy Financial Updates Appendix I Appendix II Extensive Network in Pharmaceuticals Distribution Distribution & Logistics 72 Branches Distribution 3 Centers +200k Outlets Prescription Pharmaceuticals Consumer Medical Instrument & Diagnostics Fine Chemical Raw Materials 21
Slide 22: Moving Towards Local Manufacturing & Assembly
Key Updates Business Strategy Financial Updates Appendix I Appendix II Moving Towards Local Manufacturing & Assembly Medical Devices Medical Equipment CT Scan Dialyzer Mobile X-ray in process obtained CPAKB* commercialized commercialization in 2Q24 the 1st dialyzer manufacturing facility in Indonesi
Slide 23: The Largest Distribution Network in Healthcare, Supported by Digital Expansion
Key Updates Business Strategy Financial Updates Appendix I Appendix II The Largest Distribution Network in Healthcare, Supported by Digital Expansion Distribution & Logistics Raw Material 26.6% Medical Tradings Devices 8% Net sales growth 5% from Rp5,690 bn to 7,205 bn Kalbe Group 11.5% 27% 60% Gros
Slide 24: Financial Updates
Financial Updates 24
Slide 25: Continued Top-line Growth
Key Updates Business Strategy Financial Updates Appendix I Appendix II Continued Top-line Growth Consolidated Operational Performance Net Sales In IDR bn (unaudited) 14.0% 19,479 17,079 7.3% 10.9% 6.5% 26.6% 7,205 5,690 5,300 4,941 4,264 4,004 2,710 2,445 Prescription Consumer Health Nutritionals Di
Slide 26: Managing Profitability for a Sustainable Growth
Key Updates Business Strategy Financial Updates Appendix I Appendix II Managing Profitability for a Sustainable Growth Consolidated Operational Performance Gross Profit Operating Expenses to Net Sales Net Income 26.7% 24.9% 41.0% 37.6% 11.6% 9.9% 1.5% 1.2% 4.2% 3.8% R&D Expenses G&A Expenses 7,005 4
Slide 27: Securing Product Availability by Managing Inventory
Key Updates Business Strategy Financial Updates Appendix I Appendix II Securing Product Availability by Managing Inventory Working Capital Management 162 153 Managing Net Operating Cycle 138 135 134 • Normalizing inventory level 147 • Improving working capital by building strong 131 relationships wi
Slide 28: Healthy Cash Balance to Support Operation and Business Expansion
Key Updates Business Strategy Financial Updates Appendix I Appendix II Healthy Cash Balance to Support Operation and Business Expansion Capital Allocation Total Debt & Gearing Ratio Cash & Net Cash 5.1% Cash Total Debt Net Cash Gearing Ratio 2.4% 2.5% 1.6% 0.5% 3,950 2,833 3,232 2,656 4,723 4,336 4,
Slide 29: Thank You
Thank You For further information : PT Kalbe Farma Tbk | Jalan Let. Jend. Suprapto Kav. 4 | Jakarta 10510, Indonesia Tel. : 62-21-42873888 | Fax. : 62-21-42873678 Email : investor.relations@kalbecorp.com alexandra.winstan@kalbecorp.com
Slide 30: Appendix I
Appendix I 30
Slide 31: Sustained Top-line Growth and Resilient Margins Over a Decade
Key Updates Business Strategy Financial Updates Appendix I Appendix II Sustained Top-line Growth and Resilient Margins Over a Decade Key Takeaways • Sustained consolidated top-line growth at CAGR 7% 16,367 16,943 17,899 over a decade 15,731 15,227 • Resilient margins (Operating Profit Margin was at
Slide 32: Growing National Health Insurance Coverage and Increasing Health Budget
Key Updates Business Strategy Financial Updates Appendix I Appendix II Growing National Health Insurance Coverage and Increasing Health Budget Healthcare Industry Overview National Health Insurance (JKN) Coverage Population In million 61.0% 66.1% 71.6% 78.5% 83.9% 82.3% 86.1% 90.7% 95.2% 98.2% 99.3%
Slide 33: Ensuring Compliance and Support to Government Strategic Program
Key Updates Business Strategy Financial Updates Appendix I Appendix II Ensuring Compliance and Support to Government Strategic Program Recent Healthcare Regulations Law No. HK.01.07/MENKES/301/2026 • The inclusion of nutrition labels and health messages on ready-to-serve processed foods Law No. HK.0
Slide 34: Access to Healthcare for a Better Life
Key Updates Business Strategy Financial Updates Appendix I Appendix II Access to Healthcare for a Better Life Gradual Improvement of ESG Practices Based on International Standards Energy Efficiency and C02 Emission Reduction E Gradually moving towards energy efficiency and C02 emission reduction thr
Slide 35: Sustainability Activities
Key Updates Business Strategy Financial Updates Appendix I Appendix II Sustainability Activities Improving Access to Healthcare and Implementing Responsible Business Practices Proper Hijau Received the 2024 Proper Hijau for PT Kalbe Farma as one of the milestones to measure the company’s involvement
Slide 36: Appendix II
Appendix II 36
Slide 37: Financial Statement
Key Updates Business Strategy Financial Updates Appendix I Appendix II Financial Statement In IDR mn CONSOLIDATED STATEMENT OF PROFIT OR LOSS Jun 25 Jun 26 Change YoY AND OTHER COMPREHENSIVE INCOME (Unaudited) (Unaudited) NET SALES 17,079,294 19,478,807 14.0% COST OF GOODS SOLD (10,074,568) (12,161,
Slide 38: Financial Statement
Key Updates Business Strategy Financial Updates Appendix I Appendix II Financial Statement In IDR mn CONSOLIDATED STATEMENT OF PROFIT OR LOSS Jun 25 Jun 26 Change YoY AND OTHER COMPREHENSIVE INCOME (Unaudited) (Unaudited) Non-operating Items Other Operating Income 99,401 44,180 -55.6% Other Operatin
Slide 39: Financial Statement
Key Updates Business Strategy Financial Updates Appendix I Appendix II Financial Statement In IDR mn CONSOLIDATED STATEMENT OF PROFIT OR LOSS Jun 25 Jun 26 Change YoY AND OTHER COMPREHENSIVE INCOME (Unaudited) (Unaudited) Other comprehensive income (loss) after tax (39,447) 53,459 TOTAL COMPREHENSIV
Slide 40: Financial Statement
Key Updates Business Strategy Financial Updates Appendix I Appendix II Financial Statement In IDR mn CONSOLIDATED STATEMENT OF PROFIT OR LOSS Jun 25 Jun 26 Change YoY AND OTHER COMPREHENSIVE INCOME (Unaudited) (Unaudited) Total Comprehensive Income (Loss) for the Period Attributable to: Owners of th
Slide 41: Financial Statement
Key Updates Business Strategy Financial Updates Appendix I Appendix II Financial Statement In IDR mn CONSOLIDATED STATEMENT Dec 25 Jun 26 Change YTD OF FINANCIAL POSITION (Audited) (Unaudited) ASSETS CURRENT ASSETS Cash and Cash Equivalents 4,331,440 4,831,831 11.6% Trade Receivables 5,651,335 6,582
Slide 42: Financial Statement
Key Updates Business Strategy Financial Updates Appendix I Appendix II Financial Statement In IDR mn CONSOLIDATED STATEMENT Dec 25 Jun 26 Change YTD OF FINANCIAL POSITION (Audited) (Unaudited) LIABILITIES CURRENT LIABILITIES Short-term Bank Loans 112,350 628,050 459.0% Trade Payables 2,402,800 2,951
Slide 43: Financial Statement
Key Updates Business Strategy Financial Updates Appendix I Appendix II Financial Statement In IDR mn CONSOLIDATED STATEMENT Dec 25 Jun 26 Change YTD OF FINANCIAL POSITION (Audited) (Unaudited) EQUITY Capital Stock - Issued and Fully Paid 468,134 468,134 0.0% Additional Paid-in Capital, Net (118,294)
Slide 44: Financial Statement
Key Updates Business Strategy Financial Updates Appendix I Appendix II Financial Statement In IDR mn Jun 25 Jun 26 CONSOLIDATED STATEMENT OF CASH FLOWS Change YoY (Unaudited) (Unaudited) CASH FLOWS FROM OPERATING ACTIVITIES Cash received from customers 18,219,925 20,730,928 13.8% Cash payments to su
Slide 45: Financial Statement
Key Updates Business Strategy Financial Updates Appendix I Appendix II Financial Statement In IDR mn Jun 25 Jun 26 CONSOLIDATED STATEMENT OF CASH FLOWS Change YoY (Unaudited) (Unaudited) CASH FLOWS FROM INVESTING ACTIVITIES Interest income received 78,754 61,633 -21.7% Cash dividends received 24,669
Slide 46: Financial Statement
Key Updates Business Strategy Financial Updates Appendix I Appendix II Financial Statement In IDR mn Jun 25 Jun 26 CONSOLIDATED STATEMENT OF CASH FLOWS Change YoY (Unaudited) (Unaudited) CASH FLOWS FROM FINANCING ACTIVITIES Proceeds from short-term bank loans 622,833 913,350 46.6% Payments of cash d
Slide 47: Financial Statement
Key Updates Business Strategy Financial Updates Appendix I Appendix II Financial Statement In IDR mn Jun 25 Jun 26 CONSOLIDATED STATEMENT OF CASH FLOWS Change YoY (Unaudited) (Unaudited) NET INCREASE (DECREASE) IN CASH (908,232) 444,341 -148.9% AND CASH EQUIVALENTS Net Effect of Changes in Foreign E