In H1 the company observed an increase in sales of 7.4% YoY, increase in EBITDA of 13.2% and an increase in net profit of 7.8%.
As Sopharma Group published their H1 2019 report, we are bringing you key takes from it. According to the report, the company recorded sales increase of 7% YoY amounting to BGN 611.9m. Sales of goods increased by 8%, reaching BGN 484.4m. Sales of finished products increased by 5%, to BGN 127.5m. The contribution of sales in Bulgaria to the sales revenue in H1 2019 amounted to 66%, increasing by 8% YoY, while the contribution in Europe amounts to 33% of total sales revenues for H1 2019 and increase of 6%.
Of the total sales by product, Tablets make up for 48%, followed by Ampoules which make up for 19%. Syrups follow with 8%.
Operating expenses increased by 8% to BGN 589.9m in H1 2019. The mentioned increase came as a result of an increase in sales and, respectively, to the carrying amount of goods sold by the group, increase in expenses for personnel, amortization and change in production stocks and work in progress.
In H1, EBITDA increased by 13.2%, amounting to BGN 49.4. The main reason for its increase is the introduction of IFRS 16 Leasing, as the effect is the accrued depreciation of assets of the right of use in the amount of BGN 5.4m. EBIT amounted to BGN 28.1m, representing an increase of 3.6% YoY.
Net profit increased by 7.8% to BGN 24.2m. The mentioned increase occurred mainly due to profit from associates and joint ventures, amounting to BGN 1.9m.