Phapros' Export Performance Rises Nearly 200% in the Third Quarter of 2024

JAKARTA, October 30, 2024 - PT Phapros Tbk, one of the leading pharmaceutical companies in Indonesia, continues to aggressively expand as part of its strategy to increase revenue by the end of this year. The expansion involves expanding the commercialization of products not only domestically but also internationally, by re-exporting some of its flagship products to Timor-Leste and Cambodia.

Acting CEO of Phapros, Ida Rahmi Kurniasih, stated that Timor-Leste is one of the new countries targeted for exports by the company with the stock code PEHA.

“On the other hand, Cambodia was the first export destination for Phapros in 2014, and to this day they remain loyal customers of Phapros products. This indicates that the products we produce have proven quality, not only domestically but also internationally,” she added.

The products exported to these two countries in the third quarter of 2024 include anti-allergy medications, influenza medications, and antifungal medications. In terms of consolidated revenue from exports, it is still not significant compared to the Company's total revenue, as also stated in the Third Quarter Financial Report for the 2024 fiscal year released recently. However, what is remarkable is that since the beginning of the year until September 2024, export performance has experienced very rapid growth compared to the same period last year, exceeding 193%.

Although the performance in the third quarter of 2024 still shows a correction in the Company's revenue and net profit compared to the previous year's performance, due to ongoing business process improvement efforts from upstream to downstream, significant improvements are beginning to emerge on the other hand, namely a 16.4% year-on-year decrease in operating expenses, consisting of a decrease in general and administrative expenses of over 5% and marketing costs of over 20%. This demonstrates the success of the efficiency and business process improvement programs implemented by the Company since the beginning of 2024, in addition to the improvement in export performance as explained above.

“Although our export value has not yet significantly impacted our consolidated performance, we remain optimistic that it will continue to grow in line with demand or tenders from governments of countries that have become regular customers of our products. With these export enhancement efforts, we aim for export contributions to exceed 10% of total revenue within the next few years,” explained Ida Rahmi Kurniasih.