During the Pandemic, Sales of Medical Products and Devices Increase
The COVID-19 pandemic has made people increasingly aware of the importance of a healthy lifestyle. This has resulted in increased sales of medical products and devices. Vitamins and supplements, for example, have become popular as an effort to maintain an optimistic immune system.
This increase in sales of health products was agreed by the Director of PT Pyridam Farma Tbk (PYFA), Yenfrino Gunadi. He said PYFA experienced a growth in sales of medical device products more than 6 times. In facing 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. 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.
The medical equipment division contributed 23 percent to PYFA’s total net sales. Meanwhile, sales of pharmaceutical products and tolling services, which accounted for 77 percent of PYFA’s total net sales, also increased 20 percent yoy. “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.” PYFA noted that sales during the first quarter of 2021 increased by 49 percent 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 percent when compared to net profit. 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 percent in the first quarter of 2020 to 9.2 percent in the first quarter of 2021.
In terms of operating costs, the ratio of operating expenses to net sales decreased from 55 percent in the first quarter of 2020 to 36 percent in the first quarter of 2021. The increase in sales combined with cost efficiency resulted in EBITDA growth of 226 percent yoy, with an increase in the ratio of EBITDA to net sales to 23 percent from 10 percent 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.
Risky Amelia Maharani
202010180311144
