KLBF – Up to IDR1 tn allocation for 2024' capex

KLBF – Up to IDR1 tn allocation for 2024' capex Kalbe Farma (KLBF) plans to allocate around IDR700 bn to IDR1 tn for 2024' capex. KLBF plans to use the capex for; capacity expansion, routine maintenance, and IT improvement. For financial performance, KLBF' 9M23 net profit declined to IDR2.06 tn (-16.9% yoy) due to tough market conditions as it has normalized from high base during pandemic. Yet, KLBF is optimist that the normalization had ended in 2023 and expects better performance (topline and bottomline growth) in 2024. (Source: Kontan)