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SALES

According to the unaudited standalone Income Statement, in the period January- March 2020, the sales reached the amount of MKD 2,509,772,821 - 19% up compared to the same period last year. Total consolidated sales reached MKD 3,367,918,093 – an increase of 19% compared to the same period last year. The higher sales growth in the first quarter of 2020 is partly due to the increase in the security level of stocks of medicinal products among large number of our customers, especially in the export markets, which was particularly important for them in the difficult conditions for transport of goods.

SALES BY REGIONS AND COUNTRIES

Consolidated sales in the domestic market increased by 5%, while the total consolidated export of the company increased by 25%. Out of the total consolidated sales, 28% were realized in the domestic market, while the foreign markets account for 72%. The breakdown by region shows that the countries of South-East Europe account for 36% of the sales, 23% of the sales were realized in the countries from Western Europe (EU and EFTA), Russia and CIS – 11%, while the other markets account for 2% of the total consolidated sales. 

Noticeable rise was seen in the countries of South-East Europe reaching sales of MKD 1.2 billion - increased by 36% compared to the same period last year. Russia and CIS region increased by 23%, sales in the USA increased by 39%, and sales in Western Europe (EU and EFTA) increased 12%.

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 – 88%, with OTC products accounting for 22%, antibiotics - 21%, cardiovascular products - 13%, neurological products – 12%, etc. The Chemistry Cosmetics Botanicals segment accounts for 12% of the total consolidated sales, or more precisely Chemistry – 2%, Cosmetics – 7% and Botanicals – 3%.

OPERATING RESULTS

Standalone earnings before interest, taxes, depreciation and amortization (EBITDA), which amount to MKD 460,989,420 marked an increase of roughly 9%, whereas the net profit amounting to MKD 256,095,234 rose by 3%.

Consolidated earnings before interest, taxes, depreciation and amortization (EBITDA), which reached MKD 541,246,199 saw an increase of 10%, whereas the net consolidated profit amounting to MKD 314,485,791 went up by 7%.

INVESTMENTS

The total investments in non-current assets for the period January – March 2020 amounted to MKD 275,561,903, an increase of 42% compared to the first quarter 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 carried out as planned. The completion of these investments is scheduled for 2020.

EMPLOYEES

In the period January – March 2020 Alkaloid recruited 56 new employees in the R.N. Macedonia. At the end of March 2020 there were 1,684 employees in Alkaloid AD Skopje and 574 employees in its subsidiaries and representative offices in the country and abroad, totaling 2,258 employees.

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

SHARES 

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-March 2020 ranged from MKD 8,354.00 to MKD 13,400.00, with an average of MKD 12,114.03 per share which is 45% up compared to the average price in the same period in 2019. Market capitalization on 31.03.2020 was MKD 13.9 billion.

EXPECTATIONS FOR THE UPCOMING PERIOD

In the coming period, it is expected that during the second and third quarters there will be a certain balance in the level of supplies among customers and a decrease in the growth of sales revenues compared to the initial quarter. Maintaining current liquidity certainly remains a potential challenge and a top priority. Globally, the gradual easing of restrictions, the restart of production facilities in various industries, the establishment of new rules and procedures for functioning in these complex conditions, give hope that, although in much more difficult circumstances, working conditions will slowly improve.

BUSINESS PLAN 2020

The business plan for 2020 adopted by the Managing Board of Alkaloid AD Skopje at its session held on December 27th 2019, anticipates investment of around 14% of the consolidated sales in tangible and intangible assets from own sources, a growth in consolidated sales of at least 7% compared to 2019, as well as a growth in pre-tax consolidated profit of at least 7% in comparison with 2019.

Based on the results thus far, taking into consideration the expectations for the upcoming period, the Management of the company estimates that the planned sales and profit for 2020 are going to move within the already set planning goals.