KLBF — Positive outlook amid expansion and market challenges

KLBF — Positive outlook amid expansion and market challenges Kalbe Farma (KLBF) shows promising growth potential in 2024, with strategic expansions such as acquiring a 49% stake in Thailand's Alliance Pharma aimed at boosting export revenues and market presence in Southeast Asia. Despite a decline in export revenue last year, KLBF's 1Q24 performance remained solid with a 6.3% yoy revenue increase to IDR8.36 tn and an 11.9% rise in net profit to IDR958 bn. The company targets a 15% net profit growth in 2024, supported by ongoing high demand for health products and favorable regulatory conditions in Indonesia. However, challenges like potential drug price reductions and currency fluctuations may impact profitability. (Source : Kontan)