PT Kalbe Farma Tbk : Kalbe to Buy Back Shares of Rp1 trillion

JAKARTA, May 29, 2024 - Kalbe has started a corporate action of share buyback with a maximum value of Rp1 trillion and a maximum price of Rp1,600 per share. The buyback has obtained approval from the General Meeting of Shareholders and will be executed in the next 12 (twelve) months in accordance with applicable capital market regulations.

"With the execution of buyback, the Company is committed to support Kalbe's stock price in a capital market condition that is still overshadowed by uncertainty, reflecting management's confidence in Kalbe's strong fundamentals. The buyback program has been approved by the EGMS on May 16, 2024," said President Director of PT Kalbe Farma Tbk, Irawati Setiady.

With solid fundamentals, by tapping into opportunities in the healthcare sector reform through various business initiatives, the Company remains optimistic to sustain growth in a challenging market condition. The Company maintains its targets for 2024 with sales growth in the range of 6 - 7%, net profit growth in the range of 13 - 15%, and a maximum capital expenditure of Rp1 trillion.

The company will use internal funding to conduct the buyback. As of March 31, 2024, Kalbe maintained a net cash position of Rp3.4 trillion and double-digit net profit growth of 11.9% YoY. The Company consistently maintains dividend payments to provide optimal value for shareholders. On June 14, 2024, the Company will distribute cash dividends of Rp1.4 trillion to eligible shareholders, with a dividend payout ratio of 52% to 2023 net profit.

In accordance with the prevailing capital market regulations, the Company will report the results of share buybacks periodically every 6 (six) months, with reporting dates of June 30 and December 31.

Kalbe at a Glance

PT Kalbe Farma Tbk (Kalbe) was established in 1966 and is one of the biggest public pharmaceutical companies in Southeast Asia. Kalbe has four main divisions that handle a portfolio of dependable and various brands: the prescription pharmaceutical division, the health products division that handles over-the-counter drugs, multivitamins, and ready-to-serve supplemental drinks, the nutritions division, and the distribution & logistics division.

Kalbe has also developed B2B-based digital services ecosystems for the society: EMOS and MOSTRANS. EMOS is an order management application system that helps distribution channels perform their stock or supply chain management actions. MOSTRANS is a B2B transportation solution provider for the easy management and the efficiency of transportation.

Kalbe now has more than 40 subsidiaries and 14 international-standard production facilities, supported by around 16,000 employees in 71 branches throughout Indonesia. Kalbe's shares have been listed in Indonesia Stock Exchange/Bursa Efek Indonesia (IDX:KLBF) since 1991. For more information, please visit https://www.kalbe.co.id/

HEAD OFFICE

Gedung KALBE

Jl. Let. Jend Suprapto Kav 4 Jakarta 10510 - Indonesia