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SEMARANG – PT Industri Jamu Dan Farmasi Sido Muncul Tbk (SIDO) has decided to distribute a final dividend of Rp 18 per share, with a total value of Rp 540 billion, during the Annual General Meeting of Shareholders (AGMS) held on May 15, 2024. Previously, SIDO had distributed an interim dividend of Rp 12.6 per share in November 2023, resulting in an overall dividend payout of 97% of the net profit for 2023.

“Aligned with our positive business performance, we remain committed to maximizing value for shareholders, including through dividend distribution,” said David Hidayat, CEO of the Company. Over the past 5 years, SIDO’s dividend payout ratio has consistently remained above 85%. This strong performance is supported by the Company’s healthy financial condition and stable cash position.

In the first quarter of 2024, SIDO recorded net sales of Rp 1.05 trillion, representing a growth of over 16% compared to the same period in the previous year. All business segments experienced increased sales, driven by higher volumes in both domestic and international markets. Export sales also grew by 44%, contributing 7% to total sales in the first quarter of 2024. The upward trend in consumer spending in 2024 is evident compared to the previous year. Additionally, various marketing and promotional programs, along with social media utilization to enhance brand awareness, have successfully boosted SIDO’s performance in the first quarter of this year.

From a profitability perspective, the Gross Profit Margin increased to 59% in the first quarter of 2024, up from 53% in the first quarter of 2023. This improvement was driven by overhead cost efficiencies and lower raw material prices, particularly in the food and beverage segment after supply chain normalization. Operating expenses, including advertising and promotion expensess, as well as administrative and general expenses, grew by approximately 10%, but remained lower than sales growth. Consequently, the operating profit margin increased to 47% compared to 42% in 2023. Net profit after tax reached Rp 390 billion in the first quarter of 2024.

Management remains optimistic about SIDO’s positive performance until year-end, supported by consumer spending recovery and various strategic initiatives. The Company will focus on introducing new products, leveraging social media for brand and product awareness, enhancing outlet quality through the MY SIDO MUNCUL app, expanding and improving export market performance, and maintaining cost efficiency. Additionally, the Company has signed a Sub-Distributor Appointment Cooperation Agreement with PT Atri Distribusindo, a subsidiary of Alfamart Group, to streamline the distribution channel for modern trade, thereby boosting sales and profit margins. Similar collaborations will be explored for other modern trade channels within the Company.

About PT Industri Jamu Dan Farmasi Sido Muncul Tbk

Sido Muncul (SIDO) is Indonesia’s largest herbal medicine manufacturer, with over 70 years of industry experience. Known for high-quality products and best-in-class production facilities, SIDO has built a strong brand awareness and remains the top choice for consumers in Indonesia. Operating through a network of more than 120 distribution centers nationwide, SIDO maintains market leadership by prioritizing innovation and a special focus on community and environmental well-being.

Jakarta, May 15, 2024
For more information, please contact: Tiur Simamora – Corporate Secretary

Head Office:
Office Sido Muncul, Lantai 1, Gedung Hotel Tentrem,
Jl. Gajahmada No. 123, Semarang, 50134.
Tel.: (+6224) 7692-8811
Fax: (+6224) 7692-8815
Rep.Office : Jl. Cipete Raya No. 78
Jakarta Selatan
Tel : (+6221) 7653535
Email: tiur.simamora@sidomuncul.co.id
Website: www.sidomuncul.com