PT KIMIA FARMA TBK

Financials PT Kimia Farma Tbk

Equities

KAEF

ID1000070303

Drug Retailers

End-of-day quote INDONESIA S.E. Other stock markets 03:30:00 08/05/2024 am IST			5-day change	1st Jan Change
715 ^IDR	-3.38%		-1.38%	-50.52%

2023	PT Kimia Farma Tbk Reports Earnings Results for the Nine Months Ended September 30, 2023	CI
2023	PT Kimia Farma Tbk Reports Earnings Results for the Half Year Ended June 30, 2023	CI

Valuation

Fiscal Period: December	2017	2018	2019	2020	2021	2022
Capitalization ¹	1,49,95,800	1,44,40,400	69,42,500	2,36,04,500	1,34,96,220	60,26,090
Enterprise Value (EV) ¹	1,60,25,672	1,65,19,990	1,38,78,890	3,01,15,451	2,07,71,679	1,19,86,304
P/E ratio	45.9 x	34.7 x	-546 x	1,338 x	44.6 x	-35.4 x
Yield	-	-	-	0.03%	-	-
Capitalization / Revenue	2.45 x	1.94 x	0.74 x	2.36 x	1.05 x	0.63 x
EV / Revenue	2.62 x	2.22 x	1.48 x	3.01 x	1.62 x	1.25 x
EV / EBITDA	29.1 x	20.8 x	24.4 x	37.7 x	17.1 x	13.2 x
EV / FCF	-18.5 x	-16.1 x	-5.61 x	34.9 x	-17.8 x	-22 x
FCF Yield	-5.41%	-6.2%	-17.8%	2.86%	-5.62%	-4.54%
Price to Book	5.97 x	4.51 x	0.96 x	3.38 x	1.89 x	0.76 x
Nbr of stocks (in thousands)	55,54,000	55,54,000	55,54,000	55,54,000	55,54,000	55,54,000
Reference price ²	2,700	2,600	1,250	4,250	2,430	1,085
Announcement Date	28/03/18	02/04/19	27/03/20	31/03/21	31/03/22	01/04/23

¹IDR in Million²IDR

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December	2017	2018	2019	2020	2021	2022
Net sales ¹	61,27,479	74,54,115	94,00,535	1,00,06,173	1,28,57,627	96,06,145
EBITDA ¹	5,50,139	7,95,157	5,67,697	7,99,644	12,14,604	9,08,821
EBIT ¹	4,86,400	6,92,137	4,10,181	6,36,298	9,69,247	5,34,638
Operating Margin	7.94%	9.29%	4.36%	6.36%	7.54%	5.57%
Earnings before Tax (EBT) ¹	4,49,710	5,77,726	38,315	73,359	3,92,883	49,622
Net income ¹	3,26,786	4,15,896	-12,724	17,639	3,02,274	-1,70,045
Net margin	5.33%	5.58%	-0.14%	0.18%	2.35%	-1.77%
EPS ²	58.84	74.88	-2.291	3.176	54.42	-30.62
Free Cash Flow ¹	-8,67,144	-10,24,930	-24,72,297	8,61,885	-11,67,329	-5,43,663
FCF margin	-14.15%	-13.75%	-26.3%	8.61%	-9.08%	-5.66%
FCF Conversion (EBITDA)	-	-	-	107.78%	-	-
FCF Conversion (Net income)	-	-	-	4,886.29%	-	-
Dividend per Share	-	-	-	1.270	-	-
Announcement Date	28/03/18	02/04/19	27/03/20	31/03/21	31/03/22	01/04/23

¹IDR in Million²IDR

Estimates

Balance Sheet Analysis

Fiscal Period: December	2017	2018	2019	2020	2021	2022
Net Debt ¹	10,29,872	20,79,590	69,36,390	65,10,951	72,75,459	59,60,214
Net Cash position ¹	-	-	-	-	-	-
Leverage (Debt/EBITDA)	1.872 x	2.615 x	12.22 x	8.142 x	5.99 x	6.558 x
Free Cash Flow ¹	-8,67,144	-10,24,930	-24,72,297	8,61,885	-11,67,329	-5,43,663
ROE (net income / shareholders' equity)	13.7%	13.6%	0.27%	0.28%	4.04%	-1.14%
ROA (Net income/ Total Assets)	5.68%	5.56%	1.73%	2.21%	3.43%	1.75%
Assets ¹	57,55,711	74,78,257	-7,36,641	7,96,515	88,12,899	-96,98,023
Book Value Per Share ²	452.0	577.0	1,304	1,259	1,285	1,435
Cash Flow per Share ²	178.0	353.0	245.0	225.0	135.0	388.0
Capex ¹	7,51,823	10,10,690	7,74,407	5,44,486	6,50,761	5,93,351
Capex / Sales	12.27%	13.56%	8.24%	5.44%	5.06%	6.18%
Announcement Date	28/03/18	02/04/19	27/03/20	31/03/21	31/03/22	01/04/23

¹IDR in Million²IDR

Estimates

EPS & Dividend

Year-on-year evolution of the PER

Change in Enterprise Value/EBITDA

Sector Other Drug Retailers

	1st Jan change	Capi.
PT KIMIA FARMA TBK	-50.52%	248M
WALGREENS BOOTS ALLIANCE, INC.	-33.93%	14.88B
JD HEALTH INTERNATIONAL INC.	-25.32%	12.18B
YIFENG PHARMACY CHAIN CO., LTD.	+16.46%	6.53B
ALIBABA HEALTH INFORMATION TECHNOLOGY LIMITED	-25.94%	6.52B
MATSUKIYOCOCOKARA & CO.	-8.79%	6.06B
NAHDI MEDICAL COMPANY	-2.34%	4.64B
CORPORATIVO FRAGUA, S.A.B. DE C.V.	+60.00%	4.59B
DASHENLIN PHARMACEUTICAL GROUP CO., LTD.	-8.19%	3.61B
WELCIA HOLDINGS CO., LTD.	-6.79%	3.06B

Other Drug Retailers

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