Jakarta, June 11, 2024 – In a dynamic market environment in 2023, Darya-Varia has showcased notable resilience and strategic prowess, primarily driven by the robust performance of its prescription business. The Company’s net revenues from its prescription business in 2023 managed to surpass the target set at the beginning of the year, with a growth of 11% from the 2022 result, well above the growth of the prescription drug market in Indonesia which stood at 4%.

This growth has been instrumental in highlighting the Company’s ability to thrive even amid challenging market conditions. However, this success was offset by a decline in the consumer health business, which includes vitamins, syrup products and personal care. Revenues from the OTC business decreased by 9% compared to previous year, heavily influenced by the industry-wide  market conditions in this segment which have not fully recovered post-COVID 19, resulting in an overall dip in Darya-Varia’s performance. In 2023, the Company recorded a net revenue of Rp 1,89 trillion, a slight decrease of 1% compared to previous year’s revenue.

Despite the overall market correction for the consumer health sector in 2023, Company was successful in expanding the market share of its flagship vitamins brands in the consumer health segment, namely Vicee, Enervon-C, and Natur-E. This was a particular success in our view, considering the deep correction in the multivitamins market in 2023, which declined by 7%.

The Company’s growth strategy in 2024 will be multi-pronged, aimed at strengthening its market leadership and expanding its market base. We will maintain our successful strategies which have driven sustainable financial growth and increased market share. With these proven approaches, we are poised to outpace industry growth.

In Q1 2024, the Company achieved total revenues of Rp 532 billion, a 4% increase compared to the same period in 2023. This growth was primarily driven by a 17% increase in our consumer health business, fueled by strong demand for our personal care and health supplement products.

Income for the first quarter is at Rp67 billion, 11% higher than the same period last year in 2023, mainly driven by strong demand for consumer health products.s

“We are thrilled with our performance in Q1 2024 and are confident that 2024 will be a remarkable year for our business”, said dr. Ian Kloer, President Director of the Company. “Our strategic initiatives and operational enhancements are clearly paying off, and we look forward to sustaining this momentum throughout the year.”