Feb 25, 2021

Alkaloid – operating results for January – December 2020

Alkaloid recruited 210 new employees, the investments reached MKD 1.5 billion and consolidated sales marked 9% growth in the period January - December 2020


According to the unaudited standalone Income Statement, in the period January- December 2020, the sales reached the amount of MKD 9,188,259,186, 9% up compared to the same period last year. Total consolidated sales reached MKD 12,132,328,349, an increase of 9% compared to the same period last year.

Sales by regions and countries

Consolidated sales in the domestic market increased by 9%. The total consolidated export of the company also increased by 9%. Out of the total consolidated sales, 35% were realized in the domestic market, while the foreign markets account for 65%. The breakdown by region shows that the countries of South-East Europe account for 33% of the sales, 20% of the sales were realized in the countries from Western Europe (EU and EFTA), Russia and CIS 10%, while the other markets account for 2% of the total consolidated sales.

Noticeable rise was seen in the Czech Republic, increased by 44% compared to the same period last year. Sales in Albania increased by 42%, Georgia increased by 31%, Hungary increased by 29%, Armenia increased by 20%, Bulgaria increased by 18%, Romania increased by 15%, Serbia increased 14%, Slovenia increased 12%, Russia increased 10% etc. In 2020, for the first time, Alkaloid realized sales of MKD 30.4 million in Canada.

Sales by group of products

The breakdown of total consolidated sales by group of products shows that the best sellers are the products from the segment Pharmaceuticals with 87% of total consolidated sales, with OTC products accounting for 22%, antibiotics 16%, cardiovascular products 14%, neurological products 13% etc. The Chemistry Cosmetics Botanicals segment accounts for 13% of the total consolidated sales, or more precisely Chemistry 2%, Cosmetics 8% and Botanicals 3%.

Operating results

Standalone earnings before interest, taxes, depreciation and amortization (EBITDA), which amount to MKD 1,959,849,982 marked an increase of roughly 10%, whereas the net profit amounting to MKD 1,142,650,910 rose by 13%.

Consolidated earnings before interest, taxes, depreciation and amortization (EBITDA), which reached MKD 2,077,934,491 saw an increase of 12%, whereas the net consolidated profit amounting to MKD 1,167,484,742 went up by 15%.


The total investments in non-current assets for the period January – December 2020 amounted to MKD 1,571,226,812, an increase of 44% compared to the same period in 2019.

The implementation of the investment activities worth over 12 million euros that started in 2019 intended for expansion of the production facilities as well as for improving the energy efficiency and reduction of harmful emissions in the air is carrying out as planned.


In the period January – December 2020 Alkaloid recruited 210 new employees in the R.N. Macedonia. At the end of December 2020, there were 1,832 employees in Alkaloid in the country and 560 employees in its subsidiaries and representative offices abroad, totaling 2,392 employees.

The management board of Alkaloid AD Skopje reached a decision on approval and payment of holiday allowances for its employees in March 2020. The amount paid was MKD 29,687 gross or MKD 26,718 net.

In December 2020, having in mind the new hardened work conditions for all employees, during the COVID pandemic in 2020, and as a token of gratitude, the management board of Alkaloid AD Skopje reached a decision on approval and payment of annual bonus for its employees. The amount paid was MKD 25,000 net.


The shares of Alkaloid AD Skopje have been listed since 2002 and stand as one of the most traded and most liquid shares on the Macedonian Stock Exchange. The share price of Alkaloid AD Skopje in January-December 2020 ranged from MKD 8,354.00 to MKD 13,499.00, with an average of MKD 12,174.86 per share, which is 28% up, compared to the average price in the same period in 2019. Market capitalization on 31.12.2020 was MKD 18.9 billion.

Business plan 2021

The business plan for 2021, adopted by the Managing Board of Alkaloid AD Skopje at its session held on December 29th 2020, anticipates investment of around 12% of the consolidated sales in tangible and intangible assets, a growth in consolidated sales of 7% compared to 2020, as well as a growth in pre-tax consolidated profit of 7% in comparison with 2020.

The business plan for 2021 is based on the expectations, forecasts and opportunities of the current and new markets and products available to the Company at the time of drafting the plan. Circumstances and events in 2021, thus the actual results, may vary from those taken into account in the Business Plan.

Expectations for the upcoming period

In the past period, the company has faced a number of internal and external challenges and emerging risks, generated by the pandemic of COVID 19. We at Alkaloid have taken a number of measures so far to neutralize all the negative effects, without compromising the health of employees and the successful operation of the company. During the second half of 2020, a certain balance of supply levels among our customers was achieved, as well as stabilization of growth of sales revenue. In the upcoming period employees’ health remains a top priority as well as maintaining current liquidity and financial stability.