SIDO – Increasing ASP to boost margins

SIDO – Increasing ASP to boost margins Industri Jamu dan Farmasi Sido Muncul (SIDO) plans to increase its Average Selling Price (ASP) to improve margins and strengthen its export market by 2025. It is predicted that by the end of this year, product sales volume and distribution will rise as businesses respond to secure inventory before the ASP increase next year. The La Niña phenomenon, marking the start of the rainy season, is also driving sales volumes, particularly for Tolak Angin and Susu Jahe. Moreover, SIDO aims for the export market to contribute 15% of total sales within the next 3-5 years. The company plans to expand into Vietnam and Cambodia in 2H24. Note that, SIDO recorded revenue of IDR2.62 tn (+11% yoy) in 9M24. (Source : Kontan)