Oct 30, 2020

ALKALOID – operating results for January – September 2020

Alkaloid recruited 175 new employees, doubled the investments reaching MKD 1,1 billion and marked 8% growth in consolidated sales in the period January - September 2020


According to the unaudited standalone Income Statement, in the period January- September 2020, the sales reached the amount of MKD 6,900,199,436, 9% up compared to the same period last year. Total consolidated sales reached MKD 8,929,099,884, an increase of 8% compared to the same period last year.

Sales by regions and countries

Consolidated sales in the domestic market increased by 9%, while the total consolidated export of the company increased by 7%. 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, 21% of the sales were realized in the countries from Western Europe (EU and EFTA), Russia and CIS 8%, while the other markets account for 3% of the total consolidated sales.

Noticeable rise was seen in the Czech Republic, increased by 43% compared to the same period last year. Sales in Albania increased by 36%, Romania increased by 30%, Georgia increased by 15%, Armenia increased by 15%, the USA increased by 14%, Slovenia increased 12%, Serbia increased 12% etc.

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 85% of total consolidated sales, with OTC products accounting for 22%, cardiovascular products 15%, neurological products 14%, antibiotics 13%, etc. The Chemistry Cosmetics Botanicals segment accounts for 15% of the total consolidated sales, or more precisely Chemistry 3%, Cosmetics 8% and Botanicals 4%.

Operating results

Standalone earnings before interest, taxes, depreciation and amortization (EBITDA), which amount to MKD 1,474,095,030 marked an increase of roughly 13%, whereas the net profit amounting to MKD 846,140,649 rose by 11%.

Consolidated earnings before interest, taxes, depreciation and amortization (EBITDA), which reached MKD 1,547,989,921 saw an increase of 16%, whereas the net consolidated profit amounting to MKD 847,483,426 went up by 15%.


The total investments in non-current assets for the period January – September 2020 amounted to MKD 1,178,726,785, an increase of 96% 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 carried out as planned. The completion of these investments is scheduled for 2020.


In the period January – September 2020 Alkaloid recruited 175 new employees in the R.N. Macedonia. At the end of September 2020 there were 1,822 employees in Alkaloid in the country and 536 employees in its subsidiaries and representative offices abroad, totaling 2,358 employees.

In September 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.


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-September 2020 ranged from MKD 8,354.00 to MKD 13,400.00, with an average of MKD 12,070.36 per share which is 35% up compared to the average price in the same period in 2019. Market capitalization on 30.09.2020 was MKD 17.9 billion.

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, 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.

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 and third quarter 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. Considering the measures taken, we expect the results of the company's operations to move by the end of the year within the already set targets for 2020.