In Q1, the company recorded an increase in sales of 7%, increase in EBITDA of 12.4% and an increase in net income of 26.2%.

As Sopharma published their Q1 2019 report, we are bringing you key takes from it. According to the report, the company observed sales of BGN 313.3m, representing an increase of 7% YoY.

Sales of goods increased by BGN 10.3m or 4%, reaching BGN 248.4m. Of that, Tablets amounted to BGN 121.7m, which represents an increase of 1% YoY. Meanwhile, sales of finished products increased by BGN 10.2m, or 19%, to BGN 64.9m. Of that, Tablets amounted to BGN 44m, which represents an increase of 25% YoY.

When observing the revenues by market, Bulgaria accounted for 65%, representing an increase of 7%. Europe as a market made up for 34% of the company’s sales, representing also an increase of 7%.

In Q1, Operating expenses increased by BGN 20.6m (+7%) to BGN 298.8m. The change is a consequence of the growth of sales and, respectively, of the increase of material expenses, hired services, personnel costs, amortization and other operating expenses.

Going further down the P&L, EBITDA observed an increase of 12.4%, amounting to BGN 28.1m

When observing the net financial result, the company reduced their net financial loss from BGN 1.3m to BGN 0.8m.

In Q1, Sopharma recorded an increase in net income of 26.2%, amounting to BGN 17.2m.

Performance (Q1 2019 vs Q1 2018) (BGN m)