Apr 29, 2021

Alkaloid – operating results for January – March 2021

Alkaloid realized consolidated sales of MKD 3.27 billion, recruited 58 new employees, and the investments reached MKD 178 billion in the period January - March 2021


According to the unaudited standalone Income Statement, in the period January- March 2021, the sales reached the amount of MKD 2,406,134,466, 4% less compared to the same period last year. Total consolidated sales reached MKD 3,273,226,394, a decrease of 3% compared to the same period last year.

Sales by regions and countries

Consolidated sales in the domestic market increased by 14%. The total consolidated export of the company is decreased by 9%. Out of the total consolidated sales, 33% were realized in the domestic market, while the foreign markets account for 67%. The breakdown by region shows that the countries of South-East Europe account for 34% of the sales, 22% of the sales were realized in the countries from Western Europe (EU and EFTA), Russia and CIS 10%, while the other markets account for 1% of the total consolidated sales.

The minimal decrease in sales in the first quarter of 2021 compared to the same period last year is due to the increase of the security level of stocks of medicinal products among large number of our customers, especially in the export markets, realized in March 2020 and triggered by the COVID 19 pandemic.

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 88% of total consolidated sales, with OTC products accounting for 21%, antibiotics 19%, cardiovascular products 15%, neurological products 14% etc. The Chemistry Cosmetics Botanicals segment accounts for 12% of the total consolidated sales, or more precisely Chemistry 3%, Cosmetics 7% and Botanicals 2%.

Operating results

Standalone earnings before interest, taxes, depreciation and amortization (EBITDA), which amount to MKD 514,698,816 marked an increase of roughly 12%, whereas the net profit amounting to MKD 283,499,233 rose by 11%.

Consolidated earnings before interest, taxes, depreciation and amortization (EBITDA), which reached MKD 605,551,018 saw an increase of 12%, whereas the net consolidated profit amounting to MKD 346,686,179 went up by 10%.


The total investments in non-current assets for the period January – March 2021 amounted to MKD 178,821,567.


In the period January – March 2021 Alkaloid recruited 58 new employees in the R.N. Macedonia. The management board of Alkaloid AD Skopje reached a decision on approval and payment of holiday allowances for its employees in March 2021 in the amount of 100% of the average net salary paid by a worker in the previous three months in R.N. Macedonia. The amount paid was MKD 31,167 gross or MKD 28,050 net. The Alkaloid Group has 2,430 employees, of which 1,860 in Alkaloid in the country and 570 employees in its subsidiaries and representative offices abroad.


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 2021 ranged from MKD 13,300.00 to MKD 14,530.00, with an average of MKD 13,917.00 per share, which is 14.9% up, compared to the average price in the same period in 2020. Market capitalization on 31.03.2021 was MKD 20.5 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 actual results in the first quarter of 2021 exceed the planned goals.

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 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. In the upcoming period employees’ health remains a top priority as well as maintaining current liquidity and financial stability.