PT INDUSTRI JAMU DAN FARMASI SIDO MUNCUL TBK

Update - 1st Quarter 2014

1

Disclaimer

No representation or warranty is made as to the accuracy, completeness or reliability of the

information in the presentation. No copy or use of this presentation should occur without the

permission of PT Industri Jamu Dan Farmasi Sido Muncul Tbk. This presentation should not be

relied upon as a recommendation or forecast by PT Industri Jamu Dan Farmasi Sido Muncul Tbk.

Nothing in this release should be construed as either an offer to buy or sell or a solicitation of an

offer to buy or sell shares in any jurisdiction.

2

LIST OF CONTENT

3

1

3

2

4

5

COMPANY OVERVIEW

BUSINESS OVERVIEW

OVERVIEW OF

HERBAL MEDICINE INDUSTRY

FINANCIAL HIGHLIGHTS

INVESTMENT HIGHLIGHTS

COMPANY OVERVIEW

COMPANY OVERVIEW

The Company was established in 1975 and is domiciled in

Semarang and is primarily engaged in pharmaceutical and herbal

medicine industry and general trading.

Currently, the Company operates a factory located at Jl. Soekarno

Hatta km 28, Bergas Sub-District, Klepu, Semarang. The total area

of the Company’s factory is 34 Ha with total building area of

approximately 8,6 Ha

The Company has a distribution network that is divided into 3 areas,

covering west Indonesia, middle Indonesian and East Indonesia.

Currently, the Company also distribute its products to several

countries in America, Europe, Australia, Asia and Africa.

The Company continues to maintain product quality and innovation,

creating safe and efficacious products in order to accommodate the

health need of public.

5

6

1940

The company began

as a home industry

managed by Mrs.

Rahkmat Sulistio in

Yogyakarta

COMPANY’S HISTORY

1951

Sido Muncul was established as a

modest company which means

"A dream comes true"

1970

A limited partnership was established

under the name CV Industri Jamu &

Farmasi Sido Muncul.

1984

Pabrik was transferred to Lingkungan Industri

Kecil in Jl Kaliwage, Semarang to increase the

production capacity.

1997-2000

To anticipate the improvement in the future,

Company built a larger factory and modern

in 1997 in Klepu, Ungaran. The factory was

inaugurated in 2000.

2009

The Company established

PT Semarang Herbal Indo Plant

which has business activity of

processing extract herbal, trading,

land transportation, and agriculture

2013

� Initial Public Offering of

Company

1986

The Company established PT Muncul Mekar

which has business activities of trading,

transportation, and agriculture

1975

The business of herbal medicine industry transformed into a

limited liability company under the name PT Industri Jamu &

Farmasi Sido Muncul

MANAGEMENT TEAM

THE MANAGEMENT OF THE COMPANY HAS DEEP UNDERSTANDING & LONG EXPERIENCE

IN JAMU & HERBAL MEDICINE INDUSTRY IN INDONESIA

7

Irwan Hidayat

President DirectorSofyan Hidayat

Director

David Hidayat

Director

Revi Firmansjah

Director

Sigit Hartojo Hadi Santoso

President Commissioner

Johan Hidayat

Commissioner

Budi Setiawan Pranoto

Independent Commissioner

BOARD OF COMMISSIONER

BOARD OF DIRECTORS

8

VISION DAN MISSION

Become herbal medicine, health food-

beverage and herbal raw material processing

company that provides benefit to the society

and environment.

VISION MISSION

�Develop herbal-based products that are rational, safe and

truthful and are based on scientific research.

�Develop continuous research on herbal medicines

�Assist and encourage the government, educational

institutions, medical professionals to play more active roles in

research and development of traditional medicines and

medications.

�Improve public awareness on the importance of maintaining

health through healthy lifestyle, the use of natural ingredients

and naturopathy medication.

�Conduct intensive corporate social responsibility (CSR)

�Manage an environmentally friendly company

�To become a worldwide herbal medicine company

DESY SULISTIO

HIDAYAT

IRWAN

HIDAYAT

SOFYAN

HIDAYAT

JOHAN

HIDAYAT

SANDRA LINATA

HIDAYAT

DAVID

HIDAYAT

9

COMPANY SHAREHOLDING STRUCTURE

AFTER INITIAL PUBLIC OFFERING

PUBLIC

40.05% 8.10% 8.10% 8.10% 8.10% 8.10%

99.99%99.99%

19.00%

INVESTMENT HIGHLIGHTS

INVESTMENT HIGHLIGHTS

11

Product innovation

Strong brand equity and market share leader

Largest herbal medicine and healthy products Company with solid and long track record

Strong distribution network

Vertically integrated business model

Intensive R&D

1

2

3

4

5

6

BUSINESS OVERVIEW

13

COMPANY’S PRODUCTS

HERBAL MEDICINE CATEGORIES

HEALTHY DRINK CANDY & DRINKS SUPPLEMENTS & OTHERS

The Company has over 200 products. The followings are some examples of the Company’s major selling products.

Tolak Angin Variants

ENERGY DRINK

Traditional Herbal Medicine

14

PRODUCTION FACILITIES AND SUPPORT

SEMARANG

Company has equipped the factory with various supporting facilities which have been fulfilled the pharmacy standard. Those are the supporting facilities in

the factory:

Currently, Company has a factory

in Jalan Soekarno Hatta Km. 28

Kecamatan Bergas - Klepu,

Semarang.

Currently, Company has a factory

in Jalan Soekarno Hatta Km. 28

Kecamatan Bergas - Klepu,

Semarang.

FACILITIES AND PRODUCTION MACHINE

WITH CPOB DAN CPOTB STANDARIZATIONCERTIFIED LABORATORY ISO-17205

DEMINERALIZATION WATER

TREATMENT AND DISPOSAL

HOLISTIC CLINIC AGROWISATA LAND

15

SIMPLICIASIMPLICIA

DRYINGDRYING

SORTINGSORTING

CLEAN SIMPLICIACLEAN SIMPLICIA

WASHINGWASHING

RAW MATERIAL HANDLING

16

FORMULATIONFORMULATION

PERCOLATIONPERCOLATION

STERILIZATIONSTERILIZATION

CLEAN SIMPLICIACLEAN SIMPLICIA

DRYINGDRYING

ROUGH

MILLING

ROUGH

MILLING

EVAPORATIONEVAPORATION

PACKAGINGPACKAGING

MILLINGMILLING

LIQUID &

CONDENSED

EXTRACT

LIQUID &

CONDENSED

EXTRACT

PACKAGINGPACKAGING

POWDER

EXTRACT

POWDER

EXTRACT

EXTRACTION PROCESS

17

RAW

MATERIAL

RAW

MATERIAL

ROUGH

MILLING

ROUGH

MILLINGFORMULATIONFORMULATION

SIEVINGSIEVING

DRY FRYINGDRY FRYING

FINE MILLINGFINE MILLINGMIXINGMIXINGPACKAGINGPACKAGING

POWDER HERBAL MEDICINE PROCESS

18

EXTRACTEXTRACT

DRYINGDRYING MILLINGMILLING MIXINGMIXING

Others Material Others Material

SIEVINGSIEVING

PACKAGINGPACKAGING

MIXINGMIXING

INSTANT POWDER HERBAL MEDICINE PROCESS

19

EXTRACTEXTRACT DRYINGDRYING

Others Material

MIXINGMIXING

PACKAGINGPACKAGING

MOULDINGMOULDING

EXTRACTEXTRACT DRYINGDRYING

Bahan Pembantu

MIXINGMIXING

PACKAGINGPACKAGING

MOULDINGMOULDING

PILL PROCESS

TABLET PROCESS

20

EXTRACTEXTRACT

DRYINGDRYING

Others Material

MIXINGMIXING

PACKAGINGPACKAGING

FILLINGFILLING SORTINGSORTING

CAPSULE PROCESS

21

EXTRACTEXTRACT

COOKINGCOOKING

Others Material

MIXINGMIXING

QUARANTINEQUARANTINE

FILLINGFILLINGCOOLINGCOOLING

PACKAGINGPACKAGING

LIQUID PROCESS

22

EXTRACTIONEXTRACTION

COOKINGCOOKING

Others Material

MIXINGMIXING MOULDINGMOULDING COOLINGCOOLING

PACKAGINGPACKAGING

CANDY PROCESS

DISTRIBUTION SYSTEM

23

JAKARTA & WEST INDONESIA EAST JAVA & EAST INDONESIA

FACTORY

MAIN DISTRIBUTION

CENTRAL JAVA

WHOLESALE, SUPERMARKET, STORE, RETAILER

END CUSTOMER

JAKARTA & WEST

INDONESIA

EAST JAVA & EAST

INDONESIACENTRAL JAVA

Tangerang, Kebon Jeruk, Bekasi,

Cipete, Karawang, Cawang,

Tambun, Pondok Labu, bangka,

Belitung, Padang, Jambi,

Bengkulu, Pontianak, Palembang,

Pekanbaru, Bandar Lampung,

Batam, Ketapang, Medan

Yogyakarta, Tegal, Solo,

Rembang, Majenang, Semarang,

Kebumen, Cilacap, Purwokerto

Surabaya, Jember, Panorogo,

Tuban, Bali, Kediri, Banyuwangi,

Madura, Bojonegoro, Jombang,

Sidoarjo, Gresik, Banjarmasin,

Sampit, Pangkalan, Bundar,

Samarinda, Berau, Tarakan,

Lombok, Sumbawa, Pasuruan,

Lumajang, Malang, Kupang,

Atambua, Ruteng, Ende,

Maumere, Makassar, Kendari,

Palu, Gorontalo, Manado, Luwuk,

Ternate, Tobelo, Ambon, Sorong,

Nabire, Jayapura, Biak, Merauke,

Manokwari, Timika

Medan

Batam

PadangBangka

Belitung

Palembang

Bandar Lampung

Bengkulu

Jambi

Samarinda

Tarakan

Pontianak

Ketapang

Banjarmasin

Manado

GorontaloPalu

Kendari

Makassar

Ambon

Tobelo

Ternate

BiakSorong

Manokwari

Nabire

Timika

Jayapura

Merauke

Atambua

KupangSumbawa

LombokBali

Jakarta

Surabaya

YogyakartaSolo

Cilacap

Tangerang

Purwakarta

Cilacap

Madura

Jombang

The Company is supported by over 108 Sub-Distributors and over 160,000 wholesalers that cover 76 major cities in Indonesia

24

INTERNATIONAL DISTRIBUTION NETWORK

The Company products are sold in some countries in America, Europe, Asia, Africa and Australia due to the higher demand of Company’s products.

AFGANISTANALGERIA

AMERIKA SERIKAT

BRUNEI DARUSSALAMMALAYSIA

AUSTRALIA

GHANA

HONGKONG

JORDAN

KANADA

KOREA

MAURITIUS

SINGAPURA

MONGOLIA

NIGERIA

QATAR

SURINAME

25

MARKETING STRATEGY

PRODUCT

The Company has succesfully implemented Integrated Marketing Communication Plus (5PTR) Strategy to maximize the brand equity and sales.

5PTR

RELATIONSHIP

The Company has received over 100 certifications and awards from various parties. The following are selected certifications, awards, and recognitions

26

AWARDS AND CERTIFICATIONS

MINISTRY OF HEALTH

CPOB AND CPOTB CERTIFICATE

The first Herbal Company in Indonesia with

pharmacy standard

CONSULTING GROUP

MARKETING MAGAZINE IN

COLLABORATION WITH FRONTIER

CONSULTING GROUP

TOP BRAND AWARD 2013

Tolak Angin and Kuku Bima

MARKETEERS MAGAZINE IN

COLLABORATION WITH MARKPLUS

INSIGHT

INDONESIA BRAND CHAMPION

Herbal Medicine Category 2013 and

Minor Health Category Pro 2013 – Tolak

Angin

BLOOMBERG BUSINESSWEEK &

FRONTIER CONSULTING GROUP

CORPORATE IMAGE AWARD

Traditional Herbal Medicine Category 2012

FRONTIER CONSULTING GROUP

& SWA MAGAZINE

ICSA 2012

The Best in Achieving Total Customer

Satisfaction – Kuku Bima TL

SWA & MARS MAGAZINES

INDONESIA BEST BRAND AWARD 2012

Tolak Angin

HERBAL INDUSTRY AT A GLANCE

24

75

8 15 91

9 4

55

183

222

275

38

297

10 1633

111

1 4

39

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Ban

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Lam

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Jaw

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DK

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akar

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imu

r

Bal

i

Kal

iman

tan

Bar

at

Kal

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Sel

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Kal

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tan

Ten

gah

Kal

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tan

Tim

ur

Nu

sa T

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Bar

at

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Tim

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Su

law

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Sel

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Ten

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Jumlah Perusahaan

No. Province Company Brand

1. North Sumatera 41 125

2. Banten 43 404

3. West Java 124 1,044

4. DKI Jakarta 114 785

5. Central Java 112 2,443

6. DI Yogyakarta 35 208

7. East Java 131 992

8. Bali 4 27

9. South Kalimantan 10 46

10. South Sulawesi 16 29

DISTRIBUTION OF TRADITIONAL MEDICINE AND BPOM REGISTERED

PRODUCT COMPANIES (2012)

SUMMARY OF DISTRIBUTION OF TRADITIONAL

MEDICINE AND BPOM REGISTERED PRODUCT

COMPANIES (2008-2013)

In 2012, there are 1,358 herbal medicine companies where about 78% from total is from Java and there are 6,176 registered herbal medicine brand

in BPOM (Indonesia’s Food & Drug Administration) during the period 2008 – May 2013.

28

DOMESTIC SUPPLIES

Source: Capricorn Indonesia Consult, September 2013Source: Capricorn Indonesia Consult, September 2013

Number of Company

HERBAL MEDICINE PRODUCTION GROWTH IN INDONESIA

29

HERBAL MEDICINE PRODUCTION GROWTH

The higher demand of herbal medicine market has prompted some big herbal

medicine companies increase their production by continuing to research and

improvements in production technology. In this condition, the production of

Indonesian herbal medicine in the last 5 years has increased quite high,

averaging 34% per year (CAGR).

Source: Capricorn Indonesia Consult, September 2013

GROWTH OF HERBAL MEDICINE CONSUMPTION IN

INDONESIAGROWTH OF HERBAL MEDICINE CONSUMPTION BASED ON TYPE

� Consumption of herbal medicine in Indonesia in the period 2008-2012 increased by 35.1%

� Consumption of herbal liquid and tablet continues to rise, while the powder type tends to fall. The medicine herbal consumers lately tend to

prefer the practical way consumption in liquid and tablet/caplet form.

(in kilograms)(in kilograms)

30

HERBAL MEDICINE CONSUMPTION AND PHARMACY

Source: Capricorn Indonesia Consult, September 2013 Source: Capricorn Indonesia Consult, September 2013

6,246,899

8,486,411

11,655,233

15,504,572

20,818,639

2008 2009 2010 2011 2012

4,153,752

5,650,233

7,768,761

10,336,958

13,888,553

1,968,2162,680,585

3,637,594

4,846,384

6,298,019

124,931 155,593 248,879 321,229 632,067

2008 2009 2010 2011 2012

Liquid Powder Tablet

31

COMPANY’S POSITION – HERBAL MEDICINE COLD SYMPTOMS

Increased consumption of herbal medicine coupled with an increasingly modern production technology has led to the production of herbal medicine increased

rapidly. In the period 2008-2012, the production of herbal medicine colds recorded increased an average of 34% per year. Production of herbal medicine which in

2008 amounted to 3,941.8 tonnes in 2012 has increased to 12,709.1 tons

PRODUCTION OF HERBAL MEDICINE COLD SYMPTOMS

(in kilogram)

TOLAK ANGIN MARKET SHARE

No. Company BrandMarket

Share

1. Sidomuncul Tolak Angin 75.10%

2. Competitor 1 Herbal Medicini 1 5.00%

3. Competitor 2 Herbal Medicine 2 2.00%

4. Competitor 3 Herbal Medicine 3 1.02%

5. Others (below 1%) - 16.88%

Source: Capricorn Indonesia Consult, September 2013

Sumber: Capricorn Indonesia Consult, September 2013

3,941,845

5,291,927

7,203,371

9,518,534

12,709,147

2008 2009 2010 2011 2012

32

COMPANY’S POSITION – ENERGY DRINK

PRODUCTION OF ENERGY DRINK ENERGY DRINK MARKET SHARE

(in liters)

No. Company BrandMarket

Share

1. Sidomuncul Kuku Bima Ener-G 60.02%

2. Competitor 1 Energy Drink 1 12.01%

3. Competitor 2 Energy Drink 2 8.01%

4. Competitor 3 Energy Drink 3 4.01%

5. Competitor 4 Energy Drink 4 2.32%

6. Others (below 1%) 13.63%

Source: Capricorn Indonesia Consult, September 2013

Source: Capricorn Indonesia Consult, September 2013

Market demand and industry developments have prompted increased production of energy drinks in Indonesia. During the period 2008-2012 the production of

energy drinks in Indonesia on average each year increased 23.9%. Production of energy drinks in 2008 amounted to 425.8 million liters, and continue to

increase to 1 billion liters by 2012.

425,820,849

528,904,296

651,359,970

832,834,638

1,001,966,600

2008 2009 2010 2011 2012

FINANCIAL PERFORMANCE

34

PRODUCT CONTRIBUTION

PRODUCT CONTRIBUTION TO SALES

Per 31 Mar 2014 (Unaudited)

GROSS PROFIT MIXSales Mix

26% 27% 33% 43% 42% 46%

64% 61%53%

43% 40%37%

7% 10% 11% 7%10% 7%

2% 1% 2% 6% 8% 8%1% 0% 1% 1% 1% 1%

2010 2011 2012 2013 Mar-13 Mar-14

47% 47% 56% 66% 62% 67%

47% 46%

35%

24%21%

22%

2% 4% 4% 3%7%

3%3% 2% 4% 5% 9% 7%1% 1% 1% 2% 1% 1%

2010 2011 2012 2013 Mar-13 Mar-14

PRODUCT CONTRIBUTION TO GP

Per 31 Mar 2014 (Unaudited)

Herbal

Medicine

67%

Energy Drink

22%

Beverage &

Confectioner

y

3%

Healthy Drink

7%Others

1%

Herbal

Medicine

46%

Energy Drink

37%

Beverage &

Confectionery

8%

Healthy Drink

8%

Others

1%

(Unaudited) (Unaudited)

35

PRODUCT CONTRIBUTION (in Million Rupiah)

GROSS PROFIT MIXSales Mix

(Unaudited)

482,523 586,722 785,253 1,030,507 238,200 241,055

1,201,982 1,339,653

1,266,185

1,013,114 223,090 192,153

139,762 229,729 266,666

159,646 54,672

38,963

30,068 32,282 59,149 148,717 42,857 42,725

12,203 9,887 14,414 20,380 4,823 5,131

2010 2011 2012 2013 Mar-13 Mar-14

319,913 412,108 512,577 662,244 111,252 131,704

321,891 401,669

321,243

243,988 37,926

42,273

17,093 36,857 41,376 33,031

13,122

5,844

17,421 19,116 34,039 53,616 16,285

13,672

9,616 7,939 11,412 17,374 1,687 2,618

2010 2011 2012 2013 Mar-13 Mar-14

(Unaudited)

29

0,2

02

1,1

68

,65

8

2,1

50

,99

9

2,9

51

,50

7

1,9

80

,97

5

2,9

46

,02

5

34

6,4

09

53

5,3

44

1,3

04

,65

1

2,6

25

,45

6

1,4

52

,67

1

2,7

41

,36

6

2010 2011 2012 2013 Mar-13 Mar-14

Asset Equity

(in million Rupiah)

� The Company’s Asset & Equity increased in the last four years, with CAGR of assets and equity respectively 117% and 96%.

� The Company’s Asset & Equity growth y.o.y Mar 2014 respectively 49% and 89%

36

BALANCE SHEET ANALYSIS

(Unaudited)

23

7,1

69

33

9,9

35

38

7,5

38

40

6,9

36

78

,32

0

11

5,9

10

2010 2011 2012 2013 Mar-13 Mar-14

1,8

66

,53

8

2,1

98

,27

3

2,3

91

,66

7

2,3

72

,36

4

56

3,6

42

52

0,0

27

2010 2011 2012 2013 Mar-13 Mar-14

SALES NET PROFIT

(in million Rupiah)

� The Company’s sales y.o.y Mar 2014 decline by -8% and net profit growth by 48%.

� The increasing of Company’s net profit y.o.y Mar 2014 caused by sales mix and the increase of financial income..

(in million Rupiah)

37

INCOME STATEMENT ANALYSIS

-8%

(Unaudited)(Unaudited)

38

FINANCIAL RATIO ANALYSIS

Description31 March 2014

(Unaudited)31 December 2013 31 December 2012 31 December 2011 31 December 2010

Sales Growth, yoy -7.7% -0.8% 8.8% 17.8% n.A

Gross Profit Growth, yoy 8.8% 9.8% 4.9% 28.0% n.A

Operating Profit Growth, yoy 19.0% 2.4% 14.9% 31.0% n.A

Net Profit Growth, yoy 48.0% 5.0% 14.0% 43.3% n.A

Gross Margin 37.7% 42.6% 38.5% 39.9% 36.7%

Operating Margin 23.0% 21.8% 21.1% 20.0% 18.0%

Pre-tax Margin 28.3% 24.6% 21.5% 20.7% 18.2%

Net Profit Margin 22.3% 17.2% 16.2% 15.5% 12.7%

Return On Assets - 13.8% 18.0% 29.0% 26.6%

Return on Equity - 15.5% 29.7% 63.5% 68.4%

39T H A N K Y O U

Main Office:

Gedung Menara Suara Merdeka Lantai 16

Jl Pandanaran No.30

Semarang 50134, Indonesia

Phone: (+6224) 7692-8811

Fax: (+6224) 7692-8815

Website: www.sidomuncul.com

Factory:

Jl Soekarno Hatta km 28

Kecamatan Bergas, Klepu

Semarang 50552, Indonesia

Phone: (+62298) 523-515

Fax: (+62298) 523-509

40

BALANCE SHEET

Description31 March 2014

(Unaudited)

31 December

2013

31 December

2012

31 December

2011

31 December

2010

ASSET

Current Asset 2,201,449 2,366,910 1,584,850 743,798 639,127

Non-Current Asset 744,576 584,597 566,149 424,860 251,075

LIABILITIES

Current Liabilities 205,710 324,747 837,684 360,667 267,357

Non-Current Liabilities -1,051 1,304 8,664 272,647 276,436

EQUITY 2,741,366 2,625,456 1,304,651 535,344 346,409

TOTAL LIABILITIES AND

EQUITY2,946,025 2,951,507 2,150,999 1,168,658 890,202

(in million Rupiah)

41

INCOME STATEMENT

(in million Rupiah)

Description31 March 2014

(Unaudited)

31 December

2013

31 December

2012

31 December

2011

31 December

2010

Sales 520,028 2,372,364 2,391,667 2,198,273 1,866,538

Cost of Goods Sold (323,915) (1,361,583) (1,471,020) (1,320,584) (1,180,604)

Gross Profit 196,113 1,010,781 920,647 877,689 685,934

Selling and Marketing Expenses (53,455) (341,463) (336,690) (337,612) (218,599)

General and Administrative Expenses (23,196) (152,907) (79,604) (101,128) (132,263)

Other Finance Income 28,559 134,601 5,905 11,215 6,653

Other Finance Cost (1,999) (13,256) (708) (606) (3,875)

Other Income 2,196 23,869 6,628 7,754 5,694

Other Expense (1,264) (78,967) (2,557) (2,268) (4,353)

Profit before Income Tax 146,953 582,658 513,621 455,044 339,191

Income Tax Expenses (31,043) (176,715) (126,083) (115,109) (102,022)

Other Comprehensive Income - 993 - - -

Comprehensive Income for the

Year

(Net of Tax)

115,910 406,936 387,538 339,935 237,169

42

CASHFLOW STATEMENT

(in million Rupiah)

Description31 March 2014

(Unaudited)

31 December

2013

31 December

2012

31 December

2011

31 December

2010

Net Cash Provided by

Operating Activities(14,934) (54,114) (16,446) 182,793 299,321

Net Cash Used in

Investing Activities34,246 (193,475) (179,925) (206,780) (95,542)

Net Cash Used in

Financing Activities- 1,185,813 485,527 (131,755) (55,465)

NET INCREASE IN CASH

AND CASH EQUIVALENTS19,312 938,224 289,157 (155,742) 148,314

CASH AND CASH

EQUIVALENTS

AT BEGINNING OF YEAR

1,348,955 410,731 121,574 277,316 128,767

CASH AND CASH

EQUIVALENTS

AT END OF YEAR

1,368,267 1,348,955 410,731 121,574 277,316