Sales Revenue
The largest pharmaceutical company in Macedonia reported consolidated sales of 153.9 million euros, with a 10% increase in consolidated exports and 161 new hires in the country from January to June 2024.
According to the individual income statement, sales for the period of January to June 2024 reached 6,709,614,706 denars, which is a 7% increase compared to the same period last year. Total consolidated sales, on the other hand, reached 9,475,222,706 denars, which is a 12.5% increase compared to the same period last year.
Consolidated Sales Growth
The company has seen an 18% increase in consolidated sales on the domestic market, while its total consolidated exports have grown by 10%. Through its representation of products from world-renowned pharmaceutical manufacturers, the company actively participates in providing the latest rare and specific therapies. As a proven partner in public health, it provides significant support to the healthcare system in the country. Although the profitability of these programs is limited, they greatly increase participation in health programs.
Domestic vs International Markets
When looking at consolidated sales, the domestic market accounts for 31% of total sales, while the remaining 69% come from international markets. Breaking it down by regions, countries in Southeastern Europe account for 27%, countries in Western Europe (EU and EFTA) for 22%, countries in Eastern Europe (CIS, Ukraine, etc.) for 19%, and the rest of the markets make up 1% of total consolidated sales.
Export Markets Growth
The largest increase in sales compared to the previous year is seen in export markets, with sales achieved in Western Europe, including the UK, showing the most significant growth.
Sales Growth in Various Countries
In the past year, several countries have seen a significant increase in sales of various products. The United Kingdom saw a 3.5-fold increase in sales, followed by Jordan with a 3.4-fold increase and Georgia with a 3-fold increase. Ukraine experienced a 79% growth, while Chile saw a 78% increase. Hungary, Greece, Croatia, Mongolia, Albania, Slovenia, Montenegro, and Bosnia and Herzegovina also saw growth in sales, ranging from 8% to 64%.
Sales by Product Groups
When looking at sales by product groups, which group had the highest consolidated sales structure?
The pharmaceutical industry dominates sales
In the field of pharmaceuticals, 91% of sales are generated by various products. Antibiotics account for 27% of these sales, followed by over-the-counter medications at 18%, cardiovascular drugs at 12%, neurological medications at 12%, and so on. The segment of chemicals, cosmetics, and herbal products contributes 9% to total consolidated sales, with chemicals at 2%, cosmetics at 6%, and herbal products at 1%. Overall sales have increased for all profit centers compared to the same period in 2023. The pharmaceutical segment has seen a significant rise in sales, showcasing the industry’s dominance in the market.
Investments in 2024
In 2024, with a focus on dedication to constant modernization and expanding production capacities, ALKALOID AD Skopje completed the realization of its largest investment project in the last two decades – the new facility for the production of solid pharmaceutical forms Tablet Department 2.0 and its accompanying technical spaces. The new technical and technological capacity, whose goal is more than double
Expanding Production Capacity in Pharmaceutical Forms
Alkaloid invested a total of 19.4 million euros in a new facility covering an area of 6,200 square meters, aimed at increasing production volume and flexibility in the manufacturing of solid pharmaceutical forms.
Investment in PC Cosmetics
In the first half of this year, a strategic investment was also made in PC Cosmetics. A new production line for manufacturing and packaging wet wipes, worth 1.7 million euros, was installed. The new production equipment has a capacity of 120 pieces per minute and is complemented with state-of-the-art technology.
Automated Packaging Lines
Automated packaging lines have revolutionized the production of wet wipes, doubling production capacities and expanding the range of products that can be manufactured and packaged.
Investments
Total investments in fixed assets during the period January – June 2024 amount to 679,677,122 denars.
Innovations
In recent years, ALKALOID has started a process of redesigning existing generic pharmaceutical products for new indications, aiming to create value-added medicines that allow for the treatment and satisfaction of customer needs.
Development of Innovative Medicine for Gastroesophageal Reflux Disease
Strategic investments in the modernization of the production portfolio have led to the successful development of the first patented medicine with added value at ALKALOID, intended primarily for the treatment of reflux esophagitis and gastroesophageal reflux disease (GERD). First-line drugs in the treatment of reflux esophagitis and GERD are proton pump inhibitors, a group that includes Omeprazole, which is most commonly available in the form of gastro-resistant tablets and capsules, as well as powder.
Alkaloid introduces liquid form of Omeprazole
For the first time in history, Alkaloid has developed a liquid form of the drug Omeprazole, ready for use.
Alkaloid obtained the first international patent for a Value Added Medicine (VAM) for the oral solution of Omeprazole, and the first approvals for marketing this innovative drug have already been granted for the Macedonian market and the United Kingdom market. Registration procedures are underway for countries in Europe and markets in the European Union, with approvals expected for the drug to be placed on the market and for its ?
Launching Results
Single Performance
The single profit before financial costs, taxes, and depreciation (EBITDA) amounting to 1,446,134,243 denars, has increased by approximately 8%, while the single net profit is 882,679,310 denars and has also increased by 8%.
Consolidated Performance
The consolidated profit before financial costs, taxes, and depreciation (EBITDA) reached 1,451,686,694 denars, marking a growth of 4%, while the consolidated net profit of 825,117,111 denars has increased by 7%.
During the execution of operational tasks, the company has seen significant growth in both single and consolidated profits.
Employee Engagement at ALKALOID AD Skopje
ALKALOID AD Skopje engaged over 1,000 local suppliers in various activities.
Employment
Between January and June 2024, ALKALOID AD Skopje realized 161 new employments in North Macedonia. The Management Board of ALKALOID AD Skopje approved and paid leave reimbursements for employees in March 2024, amounting to 40,500 denars net. The ALKALOID group employs 2,970 people, with 2,259 in the country and 711 in affiliated companies abroad.
Stock Data
Stock data analysis shows an increase in ALKALOID AD Skopje’s market performance, with promising prospects for future growth.
Alkaloid AD Skopje: A Leading Stock on the Macedonian Stock Exchange
Alkaloid AD Skopje has been listed on the official market of the Macedonian Stock Exchange since 2002 and is considered one of the most traded and liquid stocks on the Exchange. The price of the stock fluctuated between 18,151.00 and 21,100.00 denars, averaging 20,237.94 denars per share in the period from January to June 2024. The movement of the stock price is within the trend of the average annual growth and is attributed to the regular and transparent disclosure of positive results from the company’s operations, positive public opinion, and trust in our
Alkaloid AD Skopje: A Growing Company
Alkaloid AD Skopje is a pharmaceutical company based in North Macedonia, with a strong presence in the global market. The company’s shares are owned by 5,597 shareholders, both individuals and legal entities, and its market capitalization stands at 29.5 billion denars as of June 30, 2024.
On April 1, 2024, at the Annual General Meeting of Shareholders, the calculation and payment of a gross dividend for the year 2023 in the amount of 772.931 thousand denars was approved. Following the dividend calendar, the dividend payment began in May 2024, with an amount of 54 million denars.
Business Plan for 2024
The business plan for 2024, approved by the Board of Directors of ALKALOID AD Skopje at the meeting held on 27.12.2023, includes investing around 10% of consolidated sales revenue in tangible and intangible assets, a 10% growth in consolidated sales compared to 2023, and a 7% growth in consolidated dividends.
Profit Projections for 2023
The business plan for 2024 is based on expectations, projections, and the opportunities of current and new markets and products available to the company at the time of drafting the plan. Circumstances and events in 2024, and therefore the achieved results, may vary from those presented in the business plan.
Expectations for the upcoming period
The trend of working in challenging economic conditions, which have been prevalent in the past few years, is certainly expected to continue in 2024. Dominant trends in the market, consumer behavior, and technological advancements will play a significant role in shaping the business landscape for the upcoming year.
Challenges and Opportunities in the Global Economy
Inflation and rising interest rates have been causing concerns in the global economy, but there are expectations that they may soon enter a period of stagnation or even slight decline. However, global security crises are complicating the economic environment and predictability, which could impact energy prices, create difficulties in supply chains, and affect the availability of certain materials. We anticipate continuing on the path of continuous growth in 2024 based on the opportunities from our current investments in the market.
Expanding Production Capacities and Investing in Research Projects
Our company is committed to expanding its production capacities and investing in research projects to create a competitive portfolio and opportunities for market expansion. In order to achieve these goals, we will also continue to hire new employees both domestically and internationally, while continuously investing in improving the knowledge and skills of our workforce and nurturing talent.
