COMPANY PRESENTATION

UPDATE FY21 (Au)

SIDO IJ | SIDO JK
Disclaimer
This presentation was prepared solely and exclusively for discussion purposes. This
presentation and/or any part there of may not be reproduced, disclosed or used without the
prior written consent of PT INDUSTRI JAMU DAN FARMASI SIDO MUNCUL TBK (SIDO
or the Company).

This presentation, as well as discussions arising there from, may contain statements
relating to future expectations and/or projections of the Company by its management team,
with respect to the Company. These statements are generally identified by forward-looking
words such as “believe”, “expect”, “may”, “will”, “plan”, “estimate”, “anticipate”, or other
similar words. These statements are presented on the basis of current assumptions which
the company’s management team believes to be reasonable and presumed correct based
on available data at the time these were made, based on assumptions regarding the
Company’s present and future business strategies, and subject to certain factors which
may cause some or all of the assumptions not to occur or cause actual results to diverge
significantly from those projected. Any and all forward looking statements made by the
Company or any persons acting on its behalf are deemed qualified in their entirety by
these cautionary statements.

This presentation is solely for informational purposes and should in no way be construed
as a solicitation or an offer to buy or sell securities or related financial instruments of the
Company.

2
Table of Contents

1 Introduction

2 Company Highlights

3 Business Update FY21

4 Financial Summary

5 Company Guidance FY22

6 Appendix

3
INTRODUCTION
Largest herbal product manufacturer in Indonesia with leading
product portfolio and strong financials

Well-established Presence Attractive Financials Numerous Accolades

Market Cap: USD1.9bn
FORBES – Asia Best
(Listed since 2013)
Under a Billion & 50
More than 70 years 2021 Sales: Best of the Best
of heritage USD 282mn Companies (2019-
2021 NPAT: 2021)
USD 88mn
Products that cater to Finance Asia –
Indonesian Indonesia Best
2018-2021 CAGR
consumers across all Managed Listed
Sales : +13%
demographics Company & Best CEO
NPAT : +24%
(gender, age and (2021)
income groups)
FY 2021 GOLD PROPER – The
122 distribution OP Margin: 39% highest recognition
points NPAT Margin: 31% from the Ministry of
throughout Indonesia ROA: 31% Environment and
ROE: 36% Forestry

Stable dividend Various other

payout ratio averaging Indonesia most
More than 4,000
>90% (FY20: 100%) valuable brand awards
employees and recognitions in
and debt free balance
sheet ESG

5
Market data as of 28 Jan 2022.
FX of 14,269 IDR/USD.
Established to preserve Indonesian heritage through innovation,
local knowledge and passion for good

Founded by Mrs. Rakhmat Modern production New 32 ha factory Acquired Received Halal Certificate • Received GOLD
Sulistio in 1940 with the first facility was installed in complex in Klepu, with PT Berlico Mulia Farma to from Indonesian Ulama PROPER award for
formula of Jamu Tolak Lingkungan Industri Kecil facilities having CPOB, expand business to Council 2 consecutive
Angin. In 1951, the (Semarang, Central Java) to CPOTB, and various ISO pharmaceutical industry (MUI) and Implementation years
company SIDO MUNCUL meet growing standards, was inaugurated of • First shipment of
was established market demand Polymerase Chain essential oil
Reaction (PCR) business

1940 1970 1984 1997 2000 2013 2014 2018 2019 2020 2021

PT Industri Jamu dan Farmasi Cornerstone-laying was held Conducted Initial Public • Completed construction • Received GOLD PROPER
Sido Muncul was officially for the construction of a new, Offering with issue price of a new, integrated herbal award from Indonesia
incorporated bigger, and modern factory of Rp580 per share(1). liquid production facility, ministry of environment
complex in Klepu, Central Java Ticker code: SIDO with capacity of up to and forestry.
180mn sachets/month. • Completion of RTD
• First shipment to the production facility.
Philippine

6
(1) IPO price of IDR 580 is pre-two-for-one stock-split on 14 September 2020
Comprehensive range of products with strong brand equity and
awareness among Indonesian consumers
More than 300 SKUs

Herbal & Supplement Food & Beverages Pharmaceutical

67% OF REVENUE 30% OF REVENUE 3% OF REVENUE

• Modernized “JAMU”, using a wide • Pioneer of fruity flavor energy drink • Various over-the-counter drugs and
range of natural Indonesian herbs in Indonesia, not just an energy consumer health products (~60%
and medicinal plants, with proven booster but also a refreshing drink contribution), and prescription drugs
and long history of efficacies • Wide variety of herbal-based drinks (~40% contribution)
• Herbal-based supplements to meet and confectioneries. Some with
the modern lifestyle of Indonesian health maintenance benefits,
consumers including Vitamin C and ginger
based drinks

Scientific and Consumer Driven Innovation

7
Experienced management team with proven track records in
business and the industry
Management team revamped to continue accelerated growth across multiple frontiers
Board of Commissioners

President Commissioner Commissioner Commissioner

Jonatha Sofjan Hidajat Johan Hidayat Sigit Hartojo Hadi Santoso

>40 years experience in

herbal business >40 years experience in >40 years experience in
herbal business herbal business

Independent Independent Independent

Commissioner Commissioner Commissioner
Prof. Lindawati Gani Dr. M. Adib Khumaidi Sp.OT Segara Utama

>30 years experience in >20 years as doctor and >45 years experience in
finance accounting & audit. Orthopedics Traumatology financial industry. Also,
Also, serves as committee Specialist serves as commissioner in
audit in several Indonesia plc several companies

Board of Directors

President Director Director Director Director

David Hidayat Irwan Hidayat Leonard Darmadji Sidik

>20 years experience in >20 years experience

>35 years experience >40 years experience finance, audit, taxation in sales and logistics
in herbal business, in herbal business, and IT at several at a reputable
expertise in operational expertise in marketing reputable companies consumer company

New hires
International business RTD business Digital transformation Key account modern trade Essential oil business General & administration
 Head of International  Head of RTD business  Head of ecommerce  National Key Account  Business Development  Head of human
Business (with >20 years of (with >15 years of Manager Manager resources
(with >20 years of experience) experience) (with >20 years of (with 8 years of (with >25 years of
experience) experience) experience) experience)
 Operational Manager  Head of IT
(with 11 years of (with 12 years of
experience) experience)
COMPANY
HIGHLIGHT
Key company highlights

Leading player in the fast growing Indonesia

1 consumer health market

2 Continuous product and business innovation

Track record of successful and systematic market

3 penetration

Fully-integrated and high quality supply chain, including

4 best-in-class production facility with pharmaceutical
grade certification and advanced technologies

Commitment to continuously deliver value to all

5 stakeholders

10
 Consumer health spending is significantly
1
underpenetrated and has long-term double-digit growth

Exponential growth in consumer expenditure on health per capita as GDP per capita
increases globally
Consumer expenditure
on health per capita in
2020 (US$) Consumer
Indonesia
SEA markets expenditure on
2,000
GDP per capita health per capita
Reference markets
Countries (US$) (2020A) (US$) (2020A)
1,800
Singapore SEA markets
1,600
3,958 96
1,400
2,784 92

1,200
3,296 75

1,000
7,182 171
Japan
800
10,412 166

600
59,796 1,680
United Kingdom
400 China
Vietnam Thailand Reference markets
Malaysia
200
Indonesia 10,531 312
Philippines
0
39,853 806
0 20,000 40,000 60,000 80,000 100,000
GDP per capita in 40,706 531
2020 (US$)
11
source: EIU (All countries available except Hong Kong, Switzerland and USA)
Note: Countries include Algeria, Argentina, Australia, Austria, Azerbaijan, Belgium, Brazil, Bulgaria, Canada, Chile, China, Colombia, Czech Republic, Denmark, Ecuador, Egypt, Finland, France, Germany, Greece, Hungary, India, Indonesia, Iran, Ireland, Israel, Italy, Japan, Kazakhstan,
Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Pakistan, Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, Slovakia, South Africa, South Korea, Spain, Sri Lanka, Sweden, Taiwan, Thailand, Turkey, Ukraine, UAE, UK, Venezuela, Vietnam
 Modern Jamu represents 53% of total Jamu and is
1
expected to grow faster
OTC market
US$2.7bn

Total Jamu market size:

US$1.7bn-1.9bn
OTC market
US$1.9bn

Modern Jamu
Total Jamu market size: market growth
US$1.3bn outpaces OTC
Modern Jamu
market growth
61%

Modern Jamu
53%

Traditional Jamu Traditional Jamu

47% 39%

2021A 2026E
Expenditure on herbal / traditional products per capita across countries (2021)
Figures in US$
47.7
34.0
21.2 16.7 12.1 15.4
3.2 5.5 3.3

12
Source: Various Sources & Company Estimation
 SIDO is the #1 herbal medicine player in Indonesia with
1
strongest brand equity and consumer trust

Well-recognised in Indonesia with significant market share across key Jamu categories
Market share in Indonesia Key brand awards
Jamu market Cold symptoms
Others Brand C
Company 4 7% Brand B 0% Others
4% 6% 0%

43%
Company 3
Brand A
14%
23%

Company 2
13%

71%
Company 1
19%

Herbal analgesics Women’s health

Others
Brand C Others
Brand D 7%
1% 9%
5%
Brand B
1% 84% Brand A
Brand A 7% 65%
5%

Brand C
8%

Brand B
8%

13
Source: Nielsen & Company Estimation
 1 Tolak Angin is the #1 herbal product in Indonesia

Sido Muncul has demonstrated the industry-leading capabilities in herbal medicine, through
coordinated multi-pronged strategy ensuring sustainable long-term growth
Formulation Innovation Improving the Customer Experience Quality and Certifications

 First herbal producer to modernize the  Reformulating Tolak Angin forms to  The first herbal player to obtain BPOM*
production of herbal medicines, creating a efficiently attract and target younger standardized certification
major, standardized brand generation customers – Enables product to be distributed
 Innovative and convenient liquid single-use  Significant focus on improving customer nationally, and enter modern trade
sachet accelerated market penetration, experience and perception of taste for  Among few herbal medicines to receive
while also introducing other forms to herbal medicine ‘scientifically proven’ certification
expand consumer base  Tolak Angin is consumed by customers  Owns full IP rights since 2018, with
across all demographics improved gross margin

Extensive Network Creating Access Innovative and Proven Marketing

 Strong relationship with local distributors  Successful 2015 marketing campaign

nationwide – easily accessible even at local educated consumers on using product as
mom and pop stores, as well as modern preventive measure vs. instant relief,
channels boosting consumption frequency

 Rapid penetration into global markets,  Use of catchy taglines with elite celebrities
including the Philippine and Nigeria also increased the frequency of product
consumption

14
* National Agency of Drug and Food Control (Badan Pengawas Obat dan Makanan).
 Kuku Bima Ener-G! is the pioneer of fruit flavored energy
1
drink in Indonesia

Going against the industry norm of energy drink formulation, taste and color, Kuku Bima
Ener-G! revolutionized the category by “thinking outside the box”

Innovative Iconic Future

 From Jamu product  ROSA! is the brand  Ready-to-Drink format
extended to energy tagline, which means offers increased
drink category STRONG in Javanese, convenience for younger
o Indonesia energy and has become an consumer segment
drink market size iconic slogan
 Further expansion into
(2021): US$363m
 Most of the product’s international market,
 Launched in 2004, Kuku advertisement carry especially in Nigeria and
Bima Ener-G! Indonesia tourism Malaysia
introduced powder theme, to introduce
energy drinks with Indonesia culture to
various fruit flavors and consumers
quickly became a
 Top 2 energy drink
leading player in the player in the country with
energy drink category in
>40%* market share in
Indonesia
its category

15
Source: Nielsen (2021) & Company Research
*Powder Energy Drink Category
 Long and successful track
2 record of complimentary NPD  Expansion of product portfolio through continuous
Ongoing product innovation
 Will continue to launch at least 3 new products /
variants annually
 New products do not cannibalise sales
4Q21
1 herbal & supplement 2 food & beverage
 Essential oil (B2B)  Kuku Bima Sporty Active Grape
 Kuku Bima Sporty Fresh Berry

1 food & beverage

3Q21  Susu Jahe Super
Ginger milk

1 herbal & supplement 4 food & beverage

 Coenzyme Q10  Jamu Heritage
Antioxidant for growth and Helps with indigestion, dysmenorrhea, infectious diseases &
maintenance inflammatory, analgesic and bacteriostic acitvity
2Q21  Vitamin C1000mg + Zinc
 Kunyit Asam
Soothes menstrual cramps
 Beras Kencur
Relieves aches, flatulence and warms the body

3 herbal & supplement 1 food & beverage

1Q21  Sambiloto
Maintains health and endurance
 TeJamu
Herbal powdered drink to increase
 Fish oil 1000mg endurance and maintain health
 Kapsul JSH (strip)
Contains charcoal extract to absorb toxins

2 herbal & supplement

 Sari Jahe Merah
Successful NPD in
4Q20 Maintains endurance complementary adjacencies
 Herbamix 5
Maintains health and endurance providing diversification
5 herbal & supplement 2 food & beverage
 Esemag  Vitamin C-1000+
Helps relieve stomach disorders like nausea,  Ener-G! C-1000
2Q20 vomiting, pain, discomfort in the heart
 Tolak Linu Cool
Roll-on that relieves muscle joint pain and soreness
 Tolak Angin Anak
Remedy for cold/fever symptoms
 Kapsul JSH (capsule) 4.1%
Contains charcoal extract to absorb toxins
1Q20  Sido Kilin Hand Care Gel

7 variants of soft-gel herbal supplement 1.5%

 Tolak Angin Mint
<1.0%
 Sari Kunyit
Herbal medicine used to treat colds Contains turmeric extract to overcome
 Vitamin E-100 IU ulcers, bloating, nausea and abdominal pain
 Vitamin E-300 IU  Tolak Linu 2018A/2019A 2020A 2021A
 Vitamin D3-400 IU Boosts immune system and alleviates
flatulence, nausea, headache and maintain
digestive health Contribution of 2Y NPD vs total sales (%)
 VCO
Maintains health 16
2 Successful diversification initiative with notable products
in the market

Nurturing potential products to create another “blockbuster”

Key Success Factors:

• Tolak linu is a modern Jamu • Susu Jahe Sido Muncul is
originated from heritage recipe combination of creamy milk, sweet • Understanding deeply consumer
of Jamu Pegal Linu to relieve palm sugar, and fragrant smoked needs
rheumatic pain and joint pain ginger to provide warmth and aid • Trusted and strong brand equity
• #1 in herbal analgesics category your immune system.
of Sido Muncul
• CAGR 2019-21: +33% • #1 in traditional drink category*
• Innovative and “first mover”
• CAGR 2019-21: +30%
• Competitive pricing and
affordable for every income
groups
• Strong distribution network
• Unique and thematic marketing
• Launched in 2020, Esemag is a
campaign
• Sido Muncul C-1000 is a health
a herbal remedy for gastric supplement drink to help boost
problem your immune system. Available in
• #5 in herbal digestion category powder sachet and RTD
• FY21 growth: +121% yoy • #5 in vitamin for adult category*
• CAGR 2019-21: +517%

17
source: various sources & company’s estimation
*In Modern Trade Channel
 Entry to the pharmaceutical industry through acquisition
2
of PT Berlico Mulia Farma

Expansion into the pharmaceutical sector resulted in complementary organic growth

• SIDO acquired PT Berlico Mulia Farma (“Berlico”) in 2014
• Key strategic rationale was to leverage the complementary value proposition of herbal
and pharma products resulting in a wider portfolio of consumer health products
• Berlico has its indpendent manufacturing facility which produces >80 product SKUs,
from OTC drugs, consumer health products (pharmaceutical supplements and topical
medicines), to prescription drugs
• A distribution network covering 16 major cities in Indonesia

Anacetine OBH Berlico Minyak Telon Tiga Anak

(medicine to reduce fever for kids) (medicine for cough) (Ointment for baby & kids)

Suprabion Berlosid Licokalk

(blood booster multivitamin) (medicine for gastritis) (calcium multivitamin)

18
 Track record of successful and systematic market
3
penetration

SEA and
Africa
expansion
Strong distribution network (Distribution points)
 Targeted expansion across Java
 Leverage strong understanding of
Javanese consumer tastes and
preferences
 Relatable brand heritage East
 Establishment of extensive pan-Java Indonesia
distribution network, with 122 sub- expansion
distributors nationwide and access to
>100,000 wholesalers & retailers and  Focus Export Countries: Philippine, Nigeria,
>2 million POS & Malaysia
 On-the-ground presence in Philippines
through branch office and subsidiary in
West Nigeria
Indonesia
expansion  Marketing support to establish the brand
awareness and product knowledge

19
 Best-in-class production facility with pharmaceutical-
4
grade certification and advanced technologies
Sido Muncul Facility Semarang Herbal Indo Plant

• Main operation is located in Klepu, Central • Main facility to extract all herbal raw materials into liquid
Java, over a 32 ha land area, manufacturing all or powder products
Herbal and F&B products
• New extraction facility was completed in 2017, with
• Total liquid herbal production capacity of up to higher extraction yield, larger capacity and improved
180mn sachet per month, after completion of efficiency in raw materials usage
new herbal manufacturing plant in 2018. Post
expansion, utilization rate for herbal production
facility is still ample at around 50%
• New 1 ha raw material storage warehouse with
storage capacity of 6-month inventory
• Commissioning a new RTD manufacturing plant

Certifications Berlico Mulia Farma

• GMP standard for Traditional Herbal Medicine • Located in Yogyakarta (near Central Java)
(CPOTB) and Pharmaceutical (CPOB)
• Manufacturer of the entire pharmaceutical product range,
• ISO 9001 for quality management system, ISO including solid, semi-solid, and liquid formats
22000 for food safety management, and ISO
• Pharmaceutical GMP standard (CPOB)
17025 for laboratory management system
• Hazard Analysis & Critical Control Point (HACCP)
to identify food safety risks, prevent hazards in
food safety, and convey legal compliance
• Halal certification for over 200 SKU products

20
4 Summary of key green initiatives and awards

Remark Achievement Note

Sustainalytics rating  Low risk  Within 1 year from high risk

PROPER award  Gold  2 consecutive years

(Ministry of Forestry and
Environment Indonesia)

Green Industry  Level 5  4th time

(Ministry of Industry
Indonesia)

ESG Index Inclusion  SRI-KEHATI

 ESGS KEHATI: Indeks ESG Sector Leaders
IDX KEHATI
 ESGQ KEHATI: Indeks ESG Quality 45 IDX
KEHATI
Solar Panel Installation in  Completion of 2MWp solar panel installation  Solar PV product
Factory Area o 2,336MWh / year = 1,900 tons CO2
reduction of carbon emissions
o 27,364 tree seedlings grown for 10
years
Green House Development  Under construction
o To be finished in 2022/2023

21
5 Strong financial profile
Financial performance of SIDO has exhibited consistent growth and profitability
resulting in financial efficiency
Steady sales growth… …coupled by improving profitability
USD mn1 USD mn1
39% 2018-21 CAGR:
CAGR: +13% 33% 35%
282 30% EBIT: +24%
NPAT: +24%
234
215 31%
194 26% 28%
24%
110
81 88
72 65
58 47 57

2018 2019 2020 2021

EBIT NPAT
EBIT Margin NPAT Margin
2018 2019 2020 2021
Resulting in best-in-class returns… …and strong cash position with no leverage
USD mn1 72 76
36% 56 61
29% 31%
26% 24%
23% 23%
20%

2018 2019 2020 2021 2018 2019 2020 2021

ROA ROE

22
1FX of 14,269 IDR/USD
 5 Focus on shareholder return

SIDO has embarked on a transformation journey to deliver shareholder value,

with plenty of strategic initiatives still to be completed
IDR/share 26 27
16
1,000 5
First Annual FORBES – Asia Best
Sustainability Report, in Under a Billion & 50
accordance with GRI Best of the Best FY18 FY19 FY20 FY21
900 First export
Standards Companies
shipment to
Nigeria under
Muncul Nigeria
800 Ltd
First export
shipment to
Saudi Arabia Equity Research Coverage
700 First export
(in ‘000)
shipment to Gold Proper
Transfer of
the Philippines Award 71.1 108.3
600 trade secret 6.7 12.2
formulations
Bonus
to SIDO &
termination
Shares FY18 FY19 FY20 FY21
500 of 1.5%
131:1
royalty fee
Stock
split 1:2 First shipment of
400
Essential Oil
Indonesia 1st business to
Forbes Best of
large-scale France No. of Equity Shareholders
the Best Award
social restriction
300 • Commercial
(PSBB)
production of
Gold Proper 11 13
the new liquid
herbal facility in Award for the 5 6
200 Klepu 2nd consecutive
years
• Received Halal
Certificate FY18 FY19 FY20 FY21
100

Indices Inclusion in IDX

23
(Excl. JCI)
BUSINESS
UPDATE
FY2021
Performance summary of FY2021
Continued strong growth momentum and delivered high performance consistently

41% 15%
15%
YoY growth % 18%
Consistentin 9% 1,245
Consistent 1,078 1,122
revenue growth
delivering revenue Revenue 861
even during (IDR bn)
793
growth
COVID

4Q20 1Q21 2Q21 3Q21 4Q21

32% 32%
Margin % 27% 34%
Ability to generate 27% 363 395
Resilient NPAT & 293
higher earnings NPAT 269 233
margins
margin (IDR bn)

4Q20 1Q21 2Q21 3Q21 4Q21

Increased health awareness and sustained Higher contribution from new products, with
demand on health consumer products focus on immunity boosting supplements and
Qualitative healthy drinks
factors
Solid distribution network expansion (GT, MT, & Operational excellence and effective cost
Online). Reached out more customers and management
increased product availability

25
Key highlights of FY2021

11 new products or First shipment of

variants were essential oil to
launched in 2021 France in 4Q21

Listed in >25 E-
Outlet coverage
commerce Stores
increased to 135K
(B2C and B2B) and
(+20% yoy)
having >1mn
wholesalers &
followers across all
retailers
social media platforms

Bonus shares (ratio Gold PROPER for the

131:1) from treasury 2nd consecutive years
shares distributed on and Low Risk rating
Oct’21 and 100% by Sustainalytics.
dividend payout Constituent of 3 ESG
ratio. Indices.

26
Rapid and relentless strategic initiatives execution in order to heighten
the position in the market and creating wider economic moat
Number of Outlet Coverage MT Channel Performance
Jamu Market 84% 93% 94%
113k 135k
41% 43% 80k
38% 11% 13% 13%

2019 2020 2021 2019 2020 2021

22% Sales Contribution Service Level
20% 19%
17%
15%
13% 13% 13% 14%
• Outlet coverage reached 135k in • Maintaining higher service level
FY21, exceeded the FY21 target of >90% to generate higher sales
120k wholesalers and retailers. contribution from MT channel.
2019 2020 2021
Strategic Initiatives • Outside Java island becomes the • FY21, MT sales contributed
SIDO Company 1 Company 2 Company 3
main focus of the expansion 13% of total consolidated sales
(Sumatera, Kalimantan & East
Solid position in the industry with • MT sales grew at CAGR of 22%
Indonesia).
strong product lines that holding during the period 2019-2021.
significant positions in the market:
CAGR 2018-2021
• Tolak Angin - #1 herbal cold symptom
• Tolak Linu - #1 herbal analgesics NEW • 2yrs. NPD grew by 175% yoy in
PRODUCTS 55%
FY21, with total contribution ~
• Esemag - #5 herbal digestion
4% of total consolidated sales.
• Sido Muncul Kunyit Asam - #4 herbal
health drink for women
SIDO (Group) 13%
• Total NPD grew at CAGR of
• Sido Muncul Susu Jahe - #1 HERBAL 13% 55% and became one of the
traditional drink* growth driver for the past 3
F&B 13%
years.
• Vit C 1000 - #5 vitamin for adult* PHARMA 11%

27
source: Nielsen & Company Estimation
*In Modern Trade channel
FINANCIAL
SUMMARY
Agile in capturing market opportunities by understanding consumer
needs especially during the dynamic conditions and translate it to growth
(IDR Billion – Audited)

• The trend of herbal and supplements consumption was remained strong throughout 2021 and will continue
in 2022 as people health awareness will continue to increase. SIDO products such as Tolak Angin, Vitamin
C1000, Ginger Drinks, Tolak Linu, and Supplements became the growth driver of sales performance FY21.
• Consolidated sales increased strongly of 21% yoy, with Tolak Angin as the main driver for Herbal segment
and Healthy Drinks for F&B segment.
• International business (Export) booked higher sales by 86% yoy, driven by recovery export sales to Nigeria
and Malaysia, also contribution from shipment of essential oil to France. Therefore, international business
contributed around 4% of total consolidated sales.
• Strong sales performance drove operating leverage, generating higher profitability margin. Gross profit
margin improved 2%, from 55% to 57%, and OPEX to sales ratio declined 2.7% to be 18% in FY21. All these
factors combined resulting NPAT was booked higher by 35% yoy with net margin of 31% or higher 3%
compared to previous year.

29
Strong performance from all business segments with margin
improvement which driven by higher sales volume
(IDR Billion – Audited) Herbal & Supplements Food & Beverages Pharmaceuticals

SALES GROSS PROFIT

(%Proportional) (%Margin)
2,286
4,021
+21% %Growth +24% (57%) %Growth
137
3,335 1,839 50
(3%) +26%
(55%) (36%) +52%
108
33 420 +22%
(3%) 1,190
+18% (30%) (35%)
(30%)
1,006 345
(30%) (34%)

1,817
2,694 (67%)
1,462 +24%
2,221 (67%) +21%
(66%)
(67%)

FY20 FY21 FY20 FY21

30
Solid financial health and balance sheet maintained
Net cash balance and higher dividend payment

Capital Expenditure
Target
(IDR Billion – 2018-2021 (Au)
CAPEX ‘21
200

Cash & Cash Equivalents

1,082 127
1,032 106 114
865
806

2019 2020 2021

Dividend Per Share
DPS %Payout
CAGR 2018-2020 IDR
935bn
+32%
IDR
729bn
31.4 +22%
IDR
2018 2019 2020 2021 536bn
24.5 15.3
12.5
18.0 100%
81% 90% 90% 91%

2018 2019 2020 Interim'20 Interim'21

31
 Company
Guidance FY22
Growing responsibly and creating value to all stakeholder to
establish sustainable business

SIDO has grown to be more agile and versatile to develop more initiatives and unlocking
every potential to grow even further. Our commitment is not just to deliver greater value
but also to set a solid foundation for better future.

Upscaling domestic
FY 2022 distribution and New
Growth Target: Products Development
Sales & NPAT >15%
CAPEX: New Export Countries &
IDR 210bn
Essential Oil Business
ESG Ratings: Development
Sustainalytics: Low Risk
MSCI ESG: A Sustainability
PROPER: Gold Excellence

33
APPENDIX
P/L Statement – FY 2021 (Audited)

IDR Billion - Audited FY2021 FY2020 ∆ %gr.

SALES 4,021 3,335 686 21%
COST OF GOODS SOLD (1,735) (1,497) (238) 16%
GROSS PROFIT 2,286 1,839 447 24%
%Margin 57% 55% 2%
Selling & Marketing Expenses (556) (492) (64) 13%
General & Administrative Expenses (170) (201) 31 -15%
Other Operational Expenses / Incomes 17 5 11 219%
OPERATING PROFIT 1,577 1,151 426 37%
%Margin 39% 35% 5%
Finance Income 37 49 (12) -24%
Finance Cost (1) (1) (0) 65%
PROFIT BEFORE INCOME TAX EXPENSES 1,613 1,200 414 34%
%Margin 40% 36% 4%
Income Tax Expense - Net (352) (266) (87) 33%
PROFIT FOR THE YEAR 1,261 934 327 35%
%Margin 31% 28% 3%

35
Subsidiaries to support vertical integration of operations from
upstream to downstream
Solid operation support from subsidiaries to answer customer demands

PT HOTEL CANDI BARU CONCORDANT INVESTMENTS PUBLIC

(60.5%) (21.1%) (18.4%)

The commencement of The commencement of The commencement of The commencement of

operation: operation: operation: operation:
1987 2009 1993 2018

Business activities: Business activities: Business activities: Business activities:

Trading Herbal Extraction Pharmaceutical Trading

36
PT INDUSTRI JAMU DAN FARMASI SIDO MUNCUL TBK

HEAD OFFICE:
Office Sido Muncul, Lt 1 – Gedung Hotel Tentrem
Jl. Gajahmada No. 123
Semarang - Indonesia

BRANCH OFFICE:
Grha Muncul Mekar, fl. 8th
Jl. Panjang Arteri Kelapa Dua, No. 27
Kebon Jeruk
Jakarta Barat - Indonesia

EMAIL:
investor.relation@sidomuncul.co.id

WEBSITE:
https://investor.sidomuncul.co.id/en/home.html