Jakarta, June 3, 2021 – PT. Pyridam Farma Tbk with the issuer name PYFA recorded sales during the first quarter of 2021 increased by 49% compared to the first quarter of 2020. In addition, PYFA earned a net profit of Rp. 10.9 billion during the first quarter of 2021. This net profit increased by 149 % when compared to the net profit of the first quarter of the previous year, which was Rp 4.4 billion. The ratio of net profit to total net sales also increased from 5.5% in the first quarter of 2020 to 9.2% in the first quarter of 2021.
The increase in sales was mainly driven by sales growth of medical device products which increased by more than 6 times. The medical equipment division contributed 23% to PYFA’s total net sales. Sales of pharmaceutical products and tolling services, which accounted for 77% of PYFA’s total net sales, also increased 20% yoy.
Director of PT. Pyridam Farma Tbk (PYFA), Yenfrino Gunadi said that
“In facing the business challenges in the midst of the Covid-19 pandemic, PYFA took strategic steps to adapt by increasing the supply of medical devices as well as vitamins and supplements, bringing PYFA to record significant growth. Therefore, we are committed to continuing to deliver products and services that suit the needs of the Indonesian people while continuing to explore and establish strategic partnerships with trusted companies to present leading medical devices to advance the healthcare industry in Indonesia.”
In the first quarter of 2021, PYFA launched a vitamin D3-1000 product to meet the needs of vitamin D3 amid the increasing demand for vitamin D3 during the Covid-19 pandemic.
In terms of operating costs, the ratio of operating expenses to net sales decreased from 55% in the first quarter of 2020 to 36% in the first quarter of 2021. The increase in sales combined with cost efficiency resulted in EBITDA growth of 226% yoy, with an increase in the ratio of EBITDA to net sales to 23% from 10% in the first quarter of the previous year.
At the end of the first quarter of 2021, PT Pyridam Farma Tbk (PYFA)’s cash position was at Rp 23.3 billion and total assets at Rp 569.2 billion. Meanwhile, total liabilities and total equity stood at Rp 404.1 billion and Rp 165.1 billion, respectively.
In the future, PT Pyridam Farma. Tbk (PYFA) will continue to innovate by establishing strategic partnerships with various industries to advance the pharmaceutical industry in Indonesia, as well as presenting products that respond to the needs of the Indonesian people.
About PT Pyridam Farma Tbk.
PT Pyridam Farma Tbk is a pharmaceutical company whose main business is the production and/or distribution of modern and traditional medicines as well as the distribution of medical devices such as laboratory equipment as well as PCR test kits. The company was founded in 1976 and has been a public company and has been listed on the Indonesia Stock Exchange since 2001.
PT Pyridam Farma Tbk. manufactures a wide range of pharmaceutical products such as Antibiotics, Vitamins, Supplements, and Traditional Herbal Treatments. The company has more than 200 products in the form of tablets, caplets, capsules, cream syrups, and ointments. In addition, PT Pyridam Farma Tbk. also manufactures prescription products such as penicillin and non-penicillin antibiotics, and painkillers, as well as non-prescription products for vitamins, cold and cough suppressants, and antipyretics.
