In the year 2006, PT Kalbe Farma Tbk. (“the Company”) recorded net sales of IDR 6.07 trillion, 3.42% higher if compared to 2005’s figures of IDR 5.87 trillion. The year of 2006 is often referred to as “The Restructuring Year” by the Management because they have undertaken many projects in order to produce synergies. These synergies are one of the objectives why the Company did a merger the year before.
The Company’s gross profit in 2006 was IDR 3.1 trillion, or 4.57% higher if compared to the 2006’s figures. Some improvement can be seen in the gross profit margin; it has increased from 50.47% in 2005 to become 51.04% in 2006. This is mainly because of the strengthening and stabilizing of Indonesian Rupiah against the United States Dollar which caused reduction of the Company’s cost of imports of raw material.
Operating profit has also increased by 1.06% to become IDR 1.07 trillion if compared with 2005’s restated figures of IDR 1.06 trillion. Operating profit margin was reduced from 18.06% to become 17.64%. Low sales growth is mainly to blame for this.
The Company recorder 2006 net profit of IDR 677 billion, or 8.06% higher if compared to 2005’s restated figure of IDR 626 billion. This growth is mainly contributed by lower interest and financial expense as well as realized gain from foreign exchange.
The Company’s Annual General Meeting of shareholders held on May 22, 2007 has approved the following matters:
1. To approve director’s annual accountability for the year ended on December 31, 2006 as well as to approve and ratify the company’s planning for year 2007;
2. To approve and ratify the company’s yearly result for the year ended on December 31, 2006 which was audited by Public Accountant: Prasetio, Sarwoko & Sandjaja with its undoubted opinion, and to give full discharge of responsibility to the Board of Directors for their management and to the company’s Board of Commissioners for their supervision during the year ended on December 31, 2006 (acquit et de charge) as long as the results are reflected in the financial figures of Company’s annual report for the year ended on December 31, 2006;
3. a. To approve the allocation of the Company’s net profit for the year ended on December 31, 2006 to be as follows:
i. Acknowledging the Company’s execution of share buyback, each share will receive IDR 10 (ten rupiah), or up to IDR 101,560,144,220 (one hundred one billion five hundred sixty million one hundred forty-four thousand and two hundred twenty rupiah), will be given to shareholders as cash dividends;
ii. IDR 6,765,816,539 (six billion seven hundred sixty five million eight hundred sixteen thousand five hundred thirty nine rupiah) will be kept as an additional working capital for the Company;
iii. The remaining amount, IDR 568,255,693,113 (five hundred sixty eight billion two hundred fifty five million six hundred ninety three thousand one hundred thirteen rupiah) will be added to retained earnings;
b. To give authority to the Management to do everything that is needed in relation to the decisions stated in point (3a) above. All these decisions is in accordance to the prevailing rules and regulations which includes the preparation of carrying out the cash dividend payout.
4. a. To accept resignation request of Yosef Darmawan Angkasa as the Company’s Director and Rustiyan Oen as the Company’s Commissioner with appreciation of gratitude for their recorded supervision and services rendered; and to fully free them of their obligations and responsibilities. (acquit et de charge)
b. To approve the appointed Ferdinand Aryanto as the Company’s Commissioner as of the end of this AGM until the next AGM in 2008. This resulted in the following Management list:
President Director : Johannes Setijono
Vice President Director : Johanes Berchman Apik Ibrahim
Vice President Director : Budi Dharma Wreksoatmodjo
Director : Bernadette Ruth Irawati Setiady
Director : Santoso Oen
Director : Vidjongtius
Director : Herman Widjaja
Director : Justian Sumardi
President Commissioner : Boenjamin Setiawan
Commissioner : Nina Gunawan
Commissioner : Ferdinand Aryanto
Independent Commissioner : Johannes Baptista Soemarlin
Independent Commissioner : Inne Erna Adriana Soekaryo
d. To give full authority to the Company’s Board of Directors to notarized the new Board of Directors and Board of Commissioners lists and to report them to the appropriate government organization by way of registering it into the Company’s registered form or any necessary action needed to be done in accordance to the prevailing rules and regulations.
d. To give full authority to the meetings of the company’s Board of Commissioners to determine salary and incentive for member of Board of Commissioners and to give full authority to Board of Commissioners of the company to determine honorarium/salary for member of the company’s directors for year 2007;
5. To give full authority to Board of Commissioners and/or Directors of the company to appoint Public Accountant listed in Capital Market Supervisory Body for auditing the company’s bookkeeping for year 2007, also to give authority to the company’s board of directors to determine their honorarium and other appointment requirements.
