In today’s briefing:
- Kalbe Farma (KLBF IJ) – Back to Fighting Fit Form
Kalbe Farma (KLBF IJ) – Back to Fighting Fit Form
- Kalbe Farma had a tough year in 2023, with high raw material prices and product mix impacting margins but these headwinds have abated in 1Q2024 with promising growth ahead.
- Distribution & Logistics and the pharmaceutical segment led growth in 1Q2024, with growth in the latter driven by more specialty drugs and unbranded generics.
- Consumer health and nutritionals give Kalbe a consumer edge, with price rises in 1Q2024 and new products helping to drive profitability. Valuations look reasonable versus history with lustre around profits.
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