Pt Kalbe Farma Tbk · IDX:KLBF
Pt Kalbe Farma Tbk — 9M25 Earnings Presentation
49 slides from Pt Kalbe Farma Tbk's earnings presentation, October 2025
Slide 1: Company Update 9M25
Oct 2025 PT Kalbe Farma Tbk (KLBF IJ/KLBF.JK) Company Update 9M25 YTD Sep 2025 11
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 September 2025 unaudited results of the Company. The information co
Slide 3: Table of Contents
Table of Contents • Key Updates 04 • Business Strategies 10 • Financial Overview 25 • Appendix 1 32 • Appendix 2 39 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 7% 93% International Domestic 33.4% 29.5% Distribution & Prescription Logistics Pharmaceuticals Net Sales IDR 26.0 tn 13.8% Consumer 23.3% H
Slide 6: Solid Fundamentals for Future Growth
Key updates Business Strategy Financial Updates Appendix I Appendix II Solid Fundamentals for Future Growth Key Takeaways 7.2% 10.6% net sales growth net profit growth Key Updates Key Risks Positive organic top-line growth driven by volume Pressure on purchasing power in domestic market Margin impro
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 2025 Key Strategies Investing for long term growth through innovation and collaboration • Innovative biologics products, including expanding Insulin business a
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: Prescription Pharmaceuticals
Prescription Pharmaceuticals 9
Slide 10: Driving Top Line Growth with Portfolio Strategy
Key updates Business Strategy Financial Updates Appendix I Appendix II Prescription Pharmaceuticals Driving Top Line Growth with Portfolio Strategy Building Specialty Portfolio Growing specialty category by commercialization and expansion of innovative portfolio, supported by local manufacturing Par
Slide 11: Strategic Collaborations to Accelerate Growth
Key updates Business Strategy Financial Updates Appendix I Appendix II Strategic Collaborations to Accelerate Growth Prescription Pharmaceuticals Global Starway Synergy Kalventis Alliance Pharma Livzon Pharma Indonesia Dec 2022 Dec 2022 May 2024 July 2024 Securing raw materials and Expanding portfol
Slide 12: Innovative Specialty Products
Key updates Business Strategy Financial Updates Appendix I Appendix II Innovative Specialty Products Prescription Pharmaceuticals Manufacturing Facilities Specialty Portfolio 1. Biologics Facility in Cikarang Biologics Serplulimab Efepoetin Alfa • Factory obtained TGA GMP • In line with government l
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 11.0% 50.8% net sales growth gross profit margin from Rp6,896 bn to 7,654 bn from 51.6% due to product mix Licensed Unbranded generics Kalbe 12% 29.5%
Slide 14: Rejuvenating Our Strong Brands to Win the Market
Key updates Business Strategy Financial Updates Appendix I Appendix II Consumer Health Rejuvenating Our Strong Brands to Win the Market Expanding Customer Base Leveraging solid customer base in OTC and health supplement with brand rejuvenation, branding and positioning Driving Product Innovation Exp
Slide 15: Expanding into Non-Curative and Preventive Category
Key updates Business Strategy Financial Updates Appendix I Appendix II Expanding into Non-Curative and Preventive Category Consumer Health ~30-70% market share in relevant categories Driving product innovation and new product launches in Source: IQVIA 4Q24 potential categories Strong Customer Loyalt
Slide 16: Driving Growth Through Brand Rejuvenation
Key updates Business Strategy Financial Updates Appendix I Appendix II Driving Growth Through Brand Rejuvenation Consumer Health 9.4% 64.4% net sales growth gross profit margin from Rp3,285 bn to 3,595 bn from 60.8% due to product mix and raw material price Health Kalbe Supplements 10% a 3% b 3% 29%
Slide 17: Navigating the Market and Driving Future Growth
Key updates Business Strategy Financial Updates Appendix I Appendix II Nutritionals Navigating the Market and Driving Future Growth Solid Product Portfolio Complete product offering for all life stages with strong functionality Strengthening Brand Equity Investing to strengthen brand equity and comm
Slide 18: Complete Portfolio for Future Expansion
Key updates Business Strategy Financial Updates Appendix I Appendix II Complete Portfolio for Future Expansion Nutritionals Expecting Mothers Senior & Clinical Lactating Mothers Complete product offering Kids Adults for all life stages with strong functionality Teens 18
Slide 19: Navigating Market Challenges
Key updates Business Strategy Financial Updates Appendix I Appendix II Navigating Market Challenges Nutritionals -2.1% 54.2% net sales growth gross profit margin from Rp6,178 bn to 6,047 bn from 51.3% due to raw material price Specialty others Kalbe 14% f 9% 15% 4% e 7% Kids d Contribution Adults 4%
Slide 20: Strong Distribution Network in Healthcare, Supported by Digital Expansion
Key updates Business Strategy Appendix II Distribution and Logistics Strong Distribution Network in Healthcare, Supported by Digital Expansion Strong Distribution Infrastructure Expansive multi-channels network with coverage in 72 branches Access to healthcare Leveraging digitalization Through EMOS
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 3 Distribution Centers +200k Outlets Cold-chain Prescription Pharmaceuticals Consumer Medical Instrument & Diagnostics Fine Chemical Raw Mater
Slide 22: Moving Towards Local Manufacturing & Assembly
Key updates Business Strategy Financial Updates Appendix I Appendix II Moving Towards Local Manufacturing & Assembly Medical Devices Production & Assembly Facilities Medical Equipment Mobile X-ray CT Scan Dialyzer commercialized in process obtained CPAKB* commercialization in 2Q24 the 1st dialyzer m
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 10.3% 12.4% net sales growth gross profit margin from Rp7,879 bn to 8,692 bn from 10.0% due to product mix Raw Material Medic
Slide 24: Financial Overview
Financial Overview 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) 7.2% 25,988 24,239 11.0% 9.4% 2.1% 10.3% 7,879 8,692 6,896 7,654 6,178 6,047 3,285 3,595 Prescription Pharmaceuticals Consumer Health
Slide 26: Sustaining Margin
Key updates Business Strategy Financial Updates Appendix I Appendix II Sustaining Margin Consolidated Operational Performance Gross Profit Operating Expenses to Net Sales Net Income 26.9% 27.9% 39.3% 40.6% 9.8% 10.1% 1.3% 1.3% 4.7% 4.5% R&D Expenses G&A Expenses 9,517 10.9% 10,557 20.9% 22.1% Sellin
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 Managing Net Operating Cycle 162 153 141 • Normalizing inventory level 138 129 147 • 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 2.5% 1.6% 1.3% 2.6% 6,216 5,590 3,950 2,833 3,232 2,656 4,
Slide 29: Securing Top and Bottom-Line Growth
Key updates Business Strategy Financial Updates Appendix I Appendix II Securing Top and Bottom-Line Growth Outlook 2025 Driving top line growth Sustaining profitability Improving total shareholders' across businesses return YoY Sales Growth Net Profit Growth Dividend Payout Ratio 6 to 8% 6 to 8% 50
Slide 30: 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 : syeren.amanda@kalbecorp.com investor.relations@kalbecorp.com 330
Slide 31: Appendix 1
Appendix 1 31
Slide 32: 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 16,367 16,603 6.2% over a decade. 15,227 15,731 14,567 16,238 • Resilient margins (Operating Profit Marg
Slide 33: Focus on Increasing National Healthcare Resiliency Amidst Macroeconomy Dynamics
Key updates Business Strategy Financial Updates Appendix I Appendix II Focus on Increasing National Healthcare Resiliency Amidst Macroeconomy Dynamics Market Overview GDP Consumer Confidence Index 127.7 125.0 5.31% 5.05% 5.03% 3.70% 4.99% 121.7 115.0 -2.07% 106.0 2020 2021 2022 2023 2024 1H 2025 Jan
Slide 34: 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 Population In million National Health Insurance (JKN) Coverage 61.0% 66.1% 71.6% 78.5% 83.9% 82.3% 86.1% 90.7% 95.2% 98.2% 273.9
Slide 35: 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 Pharma Regulations Government Regulation Number 42 of 2024 • Requirement of Halal certification to the pharma products The Ministry of Trade Regulation (Perme
Slide 36: 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 37: 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 38: Appendix 2
Appendix 2 38
Slide 39: Financial Statement
Key updates Business Strategy Financial Updates Appendix I Appendix II Financial Statement CONSOLIDATED STATEMENT OF PROFIT OR LOSS Sep 24 Sep 25 Change YoY AND OTHER COMPREHENSIVE INCOME (Unaudited) (Unaudited) NET SALES 24,238,762,731,250 25,988,296,571,671 25,988,296,571,671 7.2% COST OF GOODS SO
Slide 40: Financial Statement
Key updates Business Strategy Financial Updates Appendix I Appendix II Financial Statement CONSOLIDATED STATEMENT OF PROFIT OR LOSS Sep 24 Sep 25 Change YoY AND OTHER COMPREHENSIVE INCOME (Unaudited) (Unaudited) Non-operating NET SALES Items 24,238,762,731,250 25,988,296,571,671 7.2% Other Operating
Slide 41: Financial Statement
Key updates Business Strategy Financial Updates Appendix I Appendix II Financial Statement CONSOLIDATED STATEMENT OF PROFIT OR LOSS Sep 24 Sep 25 Change YoY AND OTHER COMPREHENSIVE INCOME (Unaudited) (Unaudited) Other NET comprehensive income (loss) after tax SALES (15,347,740,523) 24,238,762,731,25
Slide 42: Financial Statement
Key updates Business Strategy Financial Updates Appendix I Appendix II Financial Statement CONSOLIDATED STATEMENT OF PROFIT OR LOSS Sep 24 Sep 25 Change YoY AND OTHER COMPREHENSIVE INCOME (Unaudited) (Unaudited) Total Comprehensive Income (Loss) for the Period NET SALES 24,238,762,731,250 25,988,296
Slide 43: Financial Statement
Key updates Business Strategy Financial Updates Appendix I Appendix II Financial Statement CONSOLIDATED STATEMENT Dec 24 Sep 25 Change YTD OF FINANCIAL POSITION (Audited) (Unaudited) ASSETS CURRENT ASSETS Cash and Cash Equivalents Equivalents 4,723,293,839,405 4,723,293,839,405 4,047,895,137,178 4,0
Slide 44: Financial Statement
Key updates Business Strategy Financial Updates Appendix I Appendix II Financial Statement CONSOLIDATED STATEMENT Dec 24 Sep 25 Change YTD OF FINANCIAL POSITION (Audited) (Unaudited) ASSETS LIABILITIES ASSETS CURRENT LIABILITIES Short-term Cash Bank and Cash Loans Equivalents 269,100,000,000 4,723,2
Slide 45: Financial Statement
Key updates Business Strategy Financial Updates Appendix I Appendix II Financial Statement CONSOLIDATED STATEMENT Dec 24 Sep 25 Change YTD OF FINANCIAL POSITION (Audited) (Unaudited) ASSETS EQUITY CURRENT Capital ASSETS Stock - Issued and Fully Paid 468,751,221,100 468,133,915,400 -0.1% Additional P
Slide 46: Financial Statement
Key updates Business Strategy Financial Updates Appendix I Appendix II Financial Statement Sep 24 Sep 25 Change CONSOLIDATED STATEMENT OF CASH FLOWS (Unaudited) (Unaudited) YoY CASH FLOWS CASH FLOWSFROM FROMOPERATING OPERATINGACTIVITIES ACTIVITIES Cash Cash received receivedfrom fromcustomers custom
Slide 47: Financial Statement
Key updates Business Strategy Financial Updates Appendix I Appendix II Financial Statement Sep 24 Sep 25 Change CONSOLIDATED STATEMENT OF CASH FLOWS (Unaudited) (Unaudited) YoY CASH FLOWS CASH FLOWSFROM FROMINVESTING OPERATING ACTIVITIES ACTIVITIES Proceeds from from Cash received sale of fixed asse
Slide 48: Financial Statement
Key updates Business Strategy Financial Updates Appendix I Appendix II Financial Statement Sep 24 Sep 25 Change CONSOLIDATED STATEMENT OF CASH FLOWS (Unaudited) (Unaudited) YoY CASH FLOWS CASH FLOWSFROM FROMFINANCING OPERATING ACTIVITIES ACTIVITIES Proceeds Cash received short-term from from bank lo
Slide 49: Financial Statement
Key updates Business Strategy Financial Updates Appendix I Appendix II Financial Statement Sep 24 Sep 25 Change CONSOLIDATED STATEMENT OF CASH FLOWS (Unaudited) (Unaudited) YoY CASH NET FLOWS FROM INCREASE OPERATING (DECREASE) ACTIVITIES IN CASH 968,869,081,093 (687,520,943,542) -171.0% AND Cash CAS