Positive Performance, Net Profit of PT. Pyridam Farma Tbk (PYFA) Increase 137%
Jakarta, 19 April 2021 – Despite being affected by the Covid-19 pandemic in 2020, the performance of PT. Pyridam Farma Tbk, with the name of the issuer PYFA, recorded a net profit growth of 137% when compared to the previous year.
The net sales of PT Pyridam Farma Tbk (PYFA) in 2020 also increased by 12% compared to 2019. This increase in sales was mainly driven by the growth of vitamin and supplement products added to the increase in sales of medical device products.
“The Covid-19 pandemic is a challenge in itself for the pharmaceutical industry. The steps taken by the company to increase the supply of vitamins and supplements as well as medical devices have brought PYFA to record significant growth. Therefore, we are committed to continuing to present products according to the needs of the Indonesian people, “this was conveyed by Kezia Mareshah as Corporate Communication Manager of PT Pyridam Farma in a press release dated April 19, 2021 in Jakarta.
Kezia Mareshah added that in terms of operating costs, the increase in sales combined with cost efficiency resulted in an EBITDA growth of 78% compared to the previous year with an increase in the ratio of EBITDA to net sales to 15% from 9% in the previous year. At the end of 2020, the cash position of PT Pyridam Farma Tbk (PYFA) was at 9.63 billion rupiah and total assets at 228.58 billion rupiah. Even in the midst of a pandemic, total assets grew 20% compared to 2019.
To support the company’s performance, PT Pyridam Farma Tbk (PYFA) at the beginning of the year issued bonds with a value of IDR 300 billion which will be used for product and business development. In addition, PT. Pyridam Farma Tbk (PYFA) established a representative office for PYFA in South Korea and also established four new subsidiaries from the company’s operational funds. The four subsidiaries are, firstly PT Pyfa Medika Indonesia which is engaged in the retail trade of pharmaceutical goods in pharmacies; laboratory, pharmaceutical and health equipment; laboratory testing services; as well as activities to support health services. Both PT Mega Inter Distrindo are engaged in pharmaceutical wholesale trading; traditional medicine; cosmetics; as well as laboratory, pharmaceutical and medical equipment.
Third, namely PT Pyfa Investama Medika, a company engaged in large trading for fees or contracts; holding company activities; accounting, bookkeeping and auditing activities; other management consulting activities; business consulting and business brokerage activities; and the activities of a combined provider of office administration services. Meanwhile, the fourth subsidiary is PT Pyfa Sehat Indonesia which conducts retail trade of pharmaceutical goods (in pharmacies and not pharmacies); traditional medicine; cosmetics; laboratory, pharmaceutical and health equipment; retail trade through the media; packing activity; and web portals and / or digital platforms for commercial purposes.
“With the presence of a PYFA representative office in South Korea and the establishment of 4 PYFA subsidiaries, 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 answer the needs of the Indonesian people, “concluded Kezia Mareshah.
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.
