Phapros Distributes 40% of Net Profit as Dividend

PT Phapros Tbk,  a subsidiary of PT Kimia Farma Tbk, held a General Meeting of Shareholders (GMS) for the Fiscal Year Ended December 31, 2020 in Jakarta.

In this year's GMS, Management explained the company's performance achievements throughout 2020. Although it was affected by the Covid-19 pandemic, in 2020 Phapros managed to secure sales of more than Rp 980 billion.

President Director of Phapros, Hadi Kardoko, said that the increase in Phapros sales in 2020 was dominated by the generic drug segment (OGB), which increased by 13% from the previous year with atotal of Rp 738 billion.

“2020 is a year full of challenges for us. Although the Company's performance last year experienced a correction in the first quarter of 2021, we managed to turn things around," said Hadi.

“In the first quarter of 2021, we recorded performance with a net profit of IDR 7.18 billion or an increase of 254% and EBITDA with an amount of IDR 46.82 billion or increased by 465% (yoy) after implementing a number of adaptive and innovative strategies in terms of products. , financial, and marketing during the pandemic," he added.

In the 2020 TB GMS, it was agreed to distribute 40% of net profit as dividend or equivalent to Rp. 19.4 billion to shareholders. In addition, this year's GMS also concluded a change in the management of the Company, so that the composition is as follows:

board of Commissioners

• President Commissioner: Maxi Rein Rondonuwu

• Commissioner: Masrizal Achmad Syarief

• Independent Commissioner: Zainal Abidin

• Independent Commissioner: Chrisma Aryani Albandjar

Directors:

• President Director: Hadi Kardoko

• Director of Finance and Risk Management: David E.S. Sidjabat

• Production Director: Syamsul Huda

• Marketing Director: Tri Andayani

To continue improving  its performance in the midst of today's challenging conditions, Hadi Kardoko said that the directors of PT Phapros Tbk have prepared various strategic plans. "We will carry out strategic business development consisting of organic business development, new product launches this year and the next two years, as well as increasing production utilization through harmonization in the Phapros Group," he said.

Hadi said that in 2021 and 2022, Phapros has a target of at least 10 new product launches. "The new products to be launched come from several therapeutic classes, including antibiotics, antidiabetics, anticholesterol, which are classified as first line therapy products, thus adding to the completeness of PT Phapros Tbk's products," he explained.

He also added that by 2023, Phapros' new product portfolio will consist of 63% branded and 37% generic. The management of PT Phapros Tbk believes that the performance until the end of this year will continue to increase sharply so that the growth target, both revenue and net profit will be achieved in double digits.