Pt Kalbe Farma Tbk · IDX:KLBF
Pt Kalbe Farma Tbk — Q1 2026 Earnings Presentation
47 slides from Pt Kalbe Farma Tbk's earnings presentation, April 2026
Slide 1: Company Update Q126
Apr 2026 PT Kalbe Farma Tbk (KLBF IJ/KLBF.JK) Company Update Q126 YTD Mar 2026 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 31 March 2026 unaudited results of the Company. The information contai
Slide 3: Table of Contents
Table of Contents • Key Updates 04 • Business Strategies 09 • Financial Overview 24 • Appendix 1 30 • Appendix 2 36 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 46.11 tn | USD 2.71 bn 36.0% Prescription Distrib
Slide 6: Solid Fundamentals for Future Growth
Key updates Business Strategy Financial Updates Appendix I Appendix II Solid Fundamentals for Future Growth Key Takeaways 10.1% -4.4% net sales growth net profit growth Key Updates Key Challenges Mitigation Positive organic top-line growth Pressure on purchasing Securing raw material availability dr
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 • 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 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 8.5% 47.3% net sales growth gross profit margin from Rp2,424 bn to 2,630 bn from 49.8% due to raw materials and product mix Licensed Unbranded generics
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 Preventive and Non-Curative Category
Key updates Business Strategy Financial Updates Appendix I Appendix II Expanding into Preventive and Non-Curative Category Consumer Health Driving product innovation and new product launches in ~30-70% market share in relevant potential categories categories Source: IQVIA 4Q24 Preventive and Non-Cur
Slide 16: Driving Growth Through Brand Rejuvenation
Key updates Business Strategy Financial Updates Appendix I Appendix II Driving Growth Through Brand Rejuvenation Consumer Health 3.2% 64.6% net sales growth gross profit margin from Rp1,360 bn to 1,403 bn from 66.0% due to product mix and raw material price Health Supplements Kalbe 10% a 6% 28% b 5%
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 Compelling portfolio consisting of functional nutritional and healthy lifestyle products Strengthening Brand Equity Investing to strengthen bran
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 1.6% 53.0% net sales growth gross profit margin from Rp2,127 bn to 2,160 bn from 54.2% due to raw material price and product mix Specialty others Kalbe 15% f 8% 16% 3% e 7% Kids d Contrib
Slide 20: Strong Distribution Network in Healthcare, Supported by Digital Expansion
Key updates Business Strategy Financial Updates Appendix I 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
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 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 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 21.1% 11.8% net sales growth gross profit margin from Rp2,877 bn to 3,485 bn from 12.6% due to principal mix Raw Material Med
Slide 24: Financial Overview
KALBE Financial Overview _?
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) 10.1% 9,678 8,788 8.5% 3.2% 1.6% 21.1% 3,485 2,630 2,877 2,424 2,160 2,127 1,403 1,360 Prescription Consumer Health Nutritionals Distr
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 25.5% 24.7% 41.2% 38.3% 12.3% 10.6% 1.2% 1.1% 4.3% 4.0% R&D Expenses G&A Expenses 3,619
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 Managing Net Operating Cycle 153 138 • Normalizing inventory level 147 135 130 • 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% 0.5% 0.4% 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 229
Slide 30: Appendix 1
Appendix 1 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 16,999 over a decade 15,731 • Resilient margins (Operating Profit Margin was at 15,227
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 2
Appendix 2 36 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 Mar 25 Mar 26 Change YoY AND OTHER COMPREHENSIVE INCOME (Unaudited) (Unaudited) NET SALES 8,788,190 9,678,361 10.1% COST OF GOODS SOLD (5,169,098) (5,971,476)
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 Mar 25 Mar 26 Change YoY AND OTHER COMPREHENSIVE INCOME (Unaudited) (Unaudited) Non-operating Items Other Operating Income 9,286 24,064 159.1% Other Operating
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 Mar 25 Mar 26 Change YoY AND OTHER COMPREHENSIVE INCOME (Unaudited) (Unaudited) Other comprehensive income (loss) after tax 27,876 (2,500) -100% -109% TOTAL C
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 Mar 25 Mar 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 Mar 26 Change YTD OF FINANCIAL POSITION (Audited) (Unaudited) ASSETS CURRENT ASSETS Cash and Cash Equivalents 4,331,440 4,392,700 1.4% Trade Receivables 5,651,335 6,337,
Slide 42: Financial Statement
Key updates Business Strategy Financial Updates Appendix I Appendix II Financial Statement In IDR mn CONSOLIDATED STATEMENT Dec 25 Mar 26 Change YTD OF FINANCIAL POSITION (Audited) (Unaudited) LIABILITIES CURRENT LIABILITIES Short-term Bank Loans 112,350 110,350 -1.8% Trade Payables 2,402,800 2,737,
Slide 43: Financial Statement
Key updates Business Strategy Financial Updates Appendix I Appendix II Financial Statement In IDR mn CONSOLIDATED STATEMENT Dec 25 Mar 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 Mar 25 Mar 26 CONSOLIDATED STATEMENT OF CASH FLOWS Change YoY (Unaudited) (Unaudited) CASH FLOWS FROM OPERATING ACTIVITIES Cash received from customers 8,696,363 10,066,129 15.8% Cash payments to sup
Slide 45: Financial Statement
Key updates Business Strategy Financial Updates Appendix I Appendix II Financial Statement In IDR mn Mar 25 Mar 26 CONSOLIDATED STATEMENT OF CASH FLOWS Change YoY (Unaudited) (Unaudited) CASH FLOWS FROM INVESTING ACTIVITIES Interest income received 39,179 24,577 -37.3% Proceeds from sale of fixed as
Slide 46: Financial Statement
Key updates Business Strategy Financial Updates Appendix I Appendix II Financial Statement In IDR mn Mar 25 Mar 26 CONSOLIDATED STATEMENT OF CASH FLOWS Change YoY (Unaudited) (Unaudited) CASH FLOWS FROM FINANCING ACTIVITIES Proceeds from short-term bank loans 31,650 355,300 1022.6% Payments of short
Slide 47: Financial Statement
Key updates Business Strategy Financial Updates Appendix I Appendix II Financial Statement In IDR mn Mar 25 Mar 26 CONSOLIDATED STATEMENT OF CASH FLOWS Change YoY (Unaudited) (Unaudited) NET INCREASE (DECREASE) IN CASH (197,228) 57,507 -129.2% AND CASH EQUIVALENTS Net Effect of Changes in Foreign Ex