Profit Grows by 49 Percent, Phapros' Q3 Financial Performance Improves

JAKARTA, November 17, 2022 - One of the state-owned pharmaceutical holding members in Indonesia, PT Phapros Tbk, recently released its financial report for Q3 2022. In the company's performance from July to September this year, Phapros recorded a current period profit growth of 49 percent. In addition, the company's total current assets also grew by 10 percent from 2021.

According to President Director Hadi Kardoko, Phapros' management is optimistic that the company can still achieve double-digit growth in the fourth quarter by looking at the significantly increased historical growth compared to last year. Moreover, Phapros' flagship product, Antimo, is increasingly accepted by the domestic market and continues to make the largest contribution to the company's financial performance.

"The improving macro and microeconomic conditions are one of the driving factors for Phapros' business to return to normal, in addition to the company's strategy to continue market penetration and produce research-based drugs and medical devices. For example, the recovery of the tourism sector has made our travel convenience product, Antimo, grow significantly by more than 100 percent compared to last year. This includes several Pareto products in the prescription sector such as dental, allergy, and others," said Hadi in Jakarta (11/17).

In addition to current period profit and current assets, Phapros' net sales also grew by 14 percent compared to the same period last year. Meanwhile, the company's equity also grew by 1 percent.

On the other hand, Phapros' stock growth (PEHA) in the third quarter of this year was in the green level, reaching 2.29 percent with a stock value increase of 53 percent. Hadi sees that investors view Phapros' stock as one of the portfolios that must be collected for long-term savings due to its continued growth.

"They see that Phapros is committed to maintaining the quality of its products, thus increasing customer trust. Our strategy until the end of 2022 still focuses on customer intimacy, and this is the reason why Phapros' stock is worth keeping," added Hadi.

Separately contacted, Technical Analyst of BCA Sekuritas Achmad Yaki Yamani said that the prospects for pharmaceutical industry stocks in Q4 2022 will still be good due to the increasing public awareness of preventing diseases by consuming supplements and vitamins.

"The stocks of pharmaceutical and healthcare issuers still have the potential to be purchased when they reach their lowest prices or buy on weakness, and trading stocks, especially in hospital, healthcare, and pharmaceutical issuers with a large portion of sales of vitamin supplements," he said.

Some time ago, Phapros also signed a memorandum of understanding with state-owned transportation cluster BUMNs such as PT KAI (Persero), PT PELNI (Persero), Perum DAMRI, and PT ASDP Indonesia Ferry (Persero). The signing of this memorandum of understanding commemorates the 50th anniversary of Antimo, which has become one of Indonesia's living legend brands, and is a form of synergy and strengthening of the core business aspects of each BUMN, especially related to engagement and positioning for cross-generational travelers who are the main customers, either through branding or other activities in the future.

"With the collaboration of cross-BUMN, we are optimistic that Phapros' financial performance in Q4 will be better, and the work plans that we have prepared for 2023 can run according to the targets that we have set," concluded Hadi.