Current Year's Profit of PEHA Increases Significantly by 143 Percent, Analysts Evaluate Its Stock as Prospective.

Jakarta, March 29th, 2023 - PT Phapros Tbk, which is a subsidiary of the state-owned pharmaceutical holding, has released its audited financial report for the fiscal year ending on December 31st, 2022. Based on the report, the stock-coded issuer PEHA recorded an 11 percent sales growth and a significant current year's profit increase of 143 percent with a complete range of product categories including over-the-counter drugs, prescription drugs, generic drugs, and medical devices.

According to the CEO of PT Phapros Tbk, Hadi Kardoko, the company's performance in 2022 was supported by operational efficiency, market penetration through Phapros' flagship products, and various partnerships with strategic allies. 2022 was also a historical milestone for the company, where one of its legendary products, Antimo, reached its 50th anniversary, with a number of strategic rejuvenations in communication and product promotion to make it more accepted by all segments of society.

"In 2022, we experienced an expansive growth. In terms of market expansion, product innovation, production volume, and others, we achieved positive performance compared to the previous year. The key things we did were two-fold, cost efficiency across all lines and operational effectiveness. The rest was supported by business excellence, organizational excellence, and digitalization," he said in Jakarta (30/3).

In addition to the fantastic performance in current year's profit growth and sales growth, Phapros also showed good performance in cash or equivalent cash growth, which increased by 57 percent at the end of 2022 compared to 2021.

"Looking at last year's sharp increase in performance, we are optimistic that in 2023, PEHA can grow significantly in terms of finance and market opportunities, so it can provide better returns to shareholders or investors, employees, or other stakeholders."

Technical analyst from BCA Securities, Achmad Yaki Yamani, said that in general, the pharmaceutical sector is still prospective due to the increasing shift in consumption patterns towards vitamins and supplements over the past few years. After the pandemic, a healthy lifestyle has become one of the positive catalysts for the pharmaceutical sector, especially those that produce multivitamins and health supplements.

"Global recession fears have also eased, so the potential for a reversal or strengthening is still possible. The pressure from the global market is more towards panic selling from domestic players when they see the market in the US or region correcting."

According to him, Phapros' business is quite prospective in the Indonesian market because in 2022, there was income derived from dividend income and recovery of receivables, which rose significantly last year, and can continue to have a positive impact on growth throughout 2023.