PT Kalbe Farma Tbk.

Pharmaceuticals

Head Office KALBE Building Summary of Financial Statement

Jl. Letjend. Suprapto Kav. 4, Jakarta 10510
Phone (021) 4287-3888 (Million Rupiah)
Fax (021) 4287-3678 2009 2010 2011
Website: www.kalbe.co.id Total Assets 6,482,447 7,032,497 8,274,554
Current Assets 4,696,168 5,031,545 5,956,123
Factory Kawasan Industri Delta Silicon of which
Jl. MH. Thamrin Blok A3-I Cash and cash equivalents 1,562,664 1,901,872 2,291,336
Time deposits 62,596 5,316 113,871
Lippo Cikarang, Bekasi 17550 Trade receivables 1,203,941 1,262,711 1,529,992
Phone (021) 8990-7337, 8990-7333 Inventories 1,561,382 1,550,829 1,705,189
Fax (021) 8990-7360 Non-Current Assets 1,786,279 2,000,952 2,318,431
of which
Business Pharmaceuticals Fixed Assets-Net 1,398,128 1,605,266 1,860,288
Company Status PMDN Deffered Tax Assets-Net 29,354 34,774 37,352
Investments 37,404 48,429 53,708
Financial Performance: Net income in 2011 in- Other Assets 20,252 37,325 97,433

crease to IDR 1.539 trillion compared to IDR 1.346 trillion Liabilities 1,691,775 1,260,580 1,758,619
Current Liabilities 1,574,137 1,146,489 1,630,589
booked in 2010. of which
Brief History: Established in 1966, PT Kalbe Farma Short-term debt
Trade payables
339,132
481,511
24,290
488,241
140,057
850,398
Tbk. (“the Company” or “Kalbe”) has gone a long way from its Accrued expenses 359,977 301,962 283,138
Taxes payable 273,181 192,635 154,287
humble beginnings as a garage-operated pharmaceutical busi- Non-Current Liabilities 117,637 114,091 128,031
ness in North Jakarta. Throughout its more than 40-year his- Shareholders' Equity 4,790,672 5,771,917 6,515,935
tory, the Company has expanded by strategic acquisitions of Paid-up capital 507,801 507,801 507,801
Paid-up capital
pharmaceutical companies, building a leading brand positioning in excess of par value 2,640 4,441 4,441
and reaching to international markets to transform itself into Revaluation of fixed assets
Retained earnings (accumulated loss)
n.a
4,280,231
n.a
5,259,675 6,003,693
n.a

an integrated consumer health and nutrition enterprise with

Net Sales 9,087,348 10,226,789 10,911,860
unrivalled innovation, marketing, branding, distribution, finan- Cost of Goods Sold 4,575,407 5,060,404 5,360,687
cial strength and R&D and production expertise to promote its Gross Profit
Operating Expenses
4,511,940
2,946,066
5,166,386
3,375,482
5,551,173
3,608,737
mission to improve health for a better life. Operating Profit 1,565,875 1,790,904 1,942,437
Other Income (Expenses) (94,803) (20,469) 44,823
The Kalbe Group has an extensive and strong portfolio of Profit (Loss) before Taxes 1,471,072 1,770,435 1,987,259
brands in the prescription pharmaceuticals, OTC pharmaceuti- Comprehensive Profit (Loss) 929,004 1,346,098 1,539,721

cals, energy drink and nutrition products, complemented with a Per Share Data (Rp)
Earnings (Loss) per Share 91 133 152
robust packaging and distribution arm that reaches over 1 million Equity per Share 472 568 642
outlets. The Company has succeeded in promoting its brands Dividend per Share 25 n.a 95
Closing Price 1,300 3,250 3,400
as the undisputed market leaders not only in Indonesia but also
Financial Ratios
in the international markets, establishing such household names PER (x) 14.21 24.52 22.43
across all healthcare and pharmaceutical segments as Promag, PBV (x) 2.76 5.72 5.30
Dividend Payout (%) 27.33 n.a 62.66
Mixagrip, Woods, Komix, Prenagen and Extra Joss. Also, foster- Dividend Yield (%) 5.30 n.a 14.81
ing and expanding alliances with international partners have ac- Current Ratio (x) 2.98 4.39 3.65
celerated Kalbe’s advances in international markets and sophis- Debt to Equity (x) 0.35 0.22 0.27
Leverage Ratio (x) 0.26 0.18 0.21
ticated R&D ventures as well as the latest pharmaceutical and Gross Profit Margin (x) 0.50 0.51 0.51
healthcare developments, including stem cell and cancer research. Operating Profit Margin (x)
Net Profit Margin (x)
0.17
0.10
0.18
0.13
0.18
0.14
The Group’s consolidation in 2005 has further enhanced pro- Inventory Turnover (x) 2.93 3.26 3.14
Total Assets Turnover (x) 1.40 1.45 1.32
duction, marketing and financial capabilities, providing greater ROI (%) 14.33 19.14 18.61
leverage to widen local and international exposure. Today, ROE (%) 19.39 23.32 23.63

Kalbe is the largest publicly-listed pharmaceutical company in PER = 24,15x ; PBV = 6,25x (June 2012)
Southeast Asia with over US$ 1 billion in market capitalization Financial Year: December 31
Public Accountant: Purwantono, Suherman & Surja
and revenues of over Rp 7 trillion. Its cashrich position today
also provides for unlimited expansion opportunities in the fu- (million rupiah)
ture. 2012 2011

Total Assets 9,141,116 7,894,851

Shareholders Current Assets 6,618,140 5,804,657
PT Gira Sole Prima 10.17% Non-Current Assets 2,522,976 2,090,194
PT Santa Seha Sanadi 9.62% Liabilities 2,710,057 2,049,757
PT Diptanala Bahana 9.49% Shareholders' Equity 6,135,876 5,845,094
Net Sales 6,243,947 4,948,716
PT Lucasta Murni Cemerlang 9.47%
Profit after Taxes 825,977 692,856
PT Ladang Ira Panen 9.22%
PT Bina Artha Charisma 8.66% ROI (%) 9.04 8.78
PT Kalbe Farma Tbk (Buy Back) 7.69% ROE (%) 13.46 11.85

Public 35.68% In June

444 Indonesian Capital Market Directory 2012

PT Kalbe Farma Tbk. Pharmaceuticals

Board of Commissioners Board of Directors

President Commissioner Drs. Johannes Setijono President Director Bernadette Ruth Irawati Setiady
Commissioners Santoso Oen, BA, Jozef Darmawan Angkasa, Directors Budi Dharma Wireksoatmodjo, Vidjongtius,
Ferdinand Aryanto, Farid A. Moeloek, Ongkie Tedjasurja, Herman Widjaja
Wahjudi Prakarsa Number of Employees 9,752
No Type of Listing Listing Date Trading Date Number of Shares Total Listed
per Listing Shares
1 First Issue 1991 1991 10,000,000 10,000,000
2 Partial Listing 1991 1992 10,000,000 20,000,000
3 Cooperative 1992 1999 500,000 20,500,000
4 Company Listing 1992 1992 29,500,000 50,000,000
5 Bonus Shares 1992 1992 50,000,000 100,000,000
6 Right Issue 1993 1993 8,000,000 108,000,000
7 Bonus Shares 1994 1994 75,600,000 183,600,000
8 Dividend Shares 1994 1994 32,400,000 216,000,000
9 Stock Split 1996 1996 216,000,000 432,000,000
10 Stock Split 1999 1999 1,728,000,000 2,160,000,000
11 Bonus Shares 2000 2000 1,900,800,000 4,060,800,000
12 Stock Split 2-Jan-04 2-Jan-04 4,060,800,000 8,121,600,000
13 Additional Listing (Merger) 21-Dec-05 21-Dec-05 2,034,414,422 10,156,014,422
Underwriters PT Ing Barings Securities, PT Merincorp
Stock Price, Frequency, Trading Days, Number and Value of Shares Traded and Market Capitalization
Stock Price Shares Traded Trading Listed Market
Month High Low Close Volume Value Frequency Day Shares Capitalization
(Rp) (Rp) (Rp) (Thousand Shares) (Rp Million) (Rp Million)
January-11 3,375 2,450 2,825 512,854.00 1,539,793.00 31,889 21 10,156,014,422 28,690,741.00
February-11 3,000 2,700 2,925 175,174.00 503,579.00 12,472 18 10,156,014,422 29,706,342.00
March-11 3,400 2,875 3,400 409,546.00 1,256,625.00 26,005 23 10,156,014,422 34,530,449.00
April-11 3,725 3,350 3,575 366,099.00 1,318,778.00 21,717 20 10,156,014,422 36,307,752.00
May-11 3,600 3,225 3,575 309,123.00 1,078,937.00 27,352 21 10,156,014,422 36,307,752.00
June-11 3,575 3,225 3,375 206,133.00 693,300.00 19,396 20 10,156,014,422 34,276,549.00
July-11 3,700 3,400 3,475 357,183.00 1,269,992.00 23,402 21 10,156,014,422 35,292,150.00
August-11 3,550 2,900 3,475 192,858.00 638,119.00 18,325 19 10,156,014,422 35,292,150.00
September-11 3,725 2,650 3,250 249,601.00 835,454.00 22,062 20 10,156,014,422 33,007,047.00
October-11 3,550 2,975 3,475 182,564.00 622,602.00 26,568 21 10,156,014,422 35,292,150.00
November-11 3,600 3,300 3,525 129,667.00 451,000.00 17,036 22 10,156,014,422 35,799,951.00
December-11 3,600 3,300 3,400 343,677.00 1,182,729.00 12,427 21 10,156,014,422 34,530,449.00
January-12 3,650 3,375 3,525 122,271.00 428,028.00 15,399 21 10,156,014,422 35,799,951.00
February-12 3,600 3,400 3,500 172,533.00 602,764.00 18,914 21 10,156,014,422 35,546,050.00
March-12 3,550 3,375 3,550 283,565.00 982,054.00 18,538 21 10,156,014,422 36,053,851.00
April-12 4,050 3,400 4,025 485,446.00 1,795,766.00 31,628 20 10,156,014,422 40,877,958.00
May-12 4,025 3,750 3,875 454,029.00 1,783,899.00 39,920 21 10,156,014,422 39,354,556.00
June-12 4,000 3,700 3,775 384,956.00 1,485,524.00 30,929 21 10,156,014,422 38,338,954.00

Stock Price and Traded Chart

Institute for Economic and Financial Research 445