Feb 28, 2022

ALKALOID – operating results for the January – December 2021 period

In the January - December 2021 period ALKALOID invested MKD 1.2 billion, hired 214 new employees in the country, and increased the consolidated profit by 12%. 


As the unaudited standalone Income Statement shows, in the January - December 2021 period sales increased by 4% and reached MKD 9,559,754,748 while total consolidated sales increased by 4% reaching MKD 12,794,180,346 compared to the same period last year.

Sales by region and country

Consolidated sales on the domestic market increased by 4%. The total consolidated export of the company grew by 6%. 35% of the total consolidated sales went on the domestic market, while foreign markets account for 65%. The breakdown by region shows that South-East Europe countries took 32% share of the sales, 19% of the sales went to the countries of Western Europe (EU and EFTA), Russia and CIS took a 13% share, while other markets account for 1% of the total consolidated sales. 

The German market had the highest growth of 160%, followed by Poland with an increase of 131%, then Ukraine 47%, Russia 45%, Hungary 30%, Bulgaria 16%, Czech Republic 12% etc. In the Pharmaceuticals segment ALKALOID had sales in Germany, Austria, Portugal and Cyprus for the first time. In the Cosmetics segment, the Becutan collection had its first significant sale in Saudi Arabia too.

Sales by product group

Broken down by product group, the highest share of the total consolidated sales belongs to the Pharmaceuticals segment with 88%, more specifically, antibiotics account for 21%, OTC products 20%, cardiovascular products 14%, neurological products 13% etc. The Chemistry, Cosmetics and Botanicals segment has a share of 12% of the total consolidated sales, or more precisely Chemistry 2%, Cosmetics 8% and Botanicals 2%.


In the January – December 2021 period a total of MKD 1,186,124,984 has been invested in fixed assets.

Operating results

Standalone earnings before interest, taxes, depreciation and amortization (EBITDA), which amount to MKD 2,190,776,155 marked an increase of roughly 12%, whereas net profits rose by 12% to MKD 1,281,405,704.

Consolidated earnings before interest, taxes, depreciation and amortization (EBITDA) reached MKD 2,302,590,062 - an increase of 11%, while net consolidated profit of MKD 1,304,959,925 grew by 12%.

In its operations ALKALOID AD Skopje engaged 1.055 domestic suppliers.


In the period January – December 2021 ALKALOID AD Skopje recruited 214 new employees in the R.N. Macedonia. In March 2021 the management board of ALKALOID AD Skopje decided to approve and pay holiday allowance to its employees equal to 100% of the quarterly average net salary in the country. The holiday allowance was MKD 31,167 gross or MKD 28,050 net. In December 2021, on the occasion of the 85th anniversary of ALKALOID, the management board of ALKALOID AD Skopje reached a decision on approval and payment of an award for its employees. The amount paid was MKD 28,000 net. The ALKALOID Group has 2,528 employees, of which 1,942 in its Skopje headquarters and 586 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 price of ALKALOID AD Skopje shares ranged from MKD 13,300.00 to MKD 18,501.00 in the January-December 2021 period, with an average of MKD 15,799.55 per share, which is a growth of 29.8% compared to the average price in the same period in 2020. On 31.12.2021 5,170 individuals and companies held ALKALOID AD Skopje shares, while its market capitalization was MKD 26.4 billion.

Business plan 2022

The business plan for 2022, adopted by the Managing Board of ALKALOID AD Skopje at its December 29th, 2021 meeting, anticipates investment of around 14% of the consolidated revenue in tangible and intangible assets, growth in consolidated sales of 8% compared to 2021, and growth in pre-tax consolidated profit of 7% in comparison to 2021. 

The 2022 business plan is based on the expectations, forecasts and opportunities on the existing and new markets and products available to the Company at the time of drafting the plan. Circumstances and events in 2021 may vary from those taken into account in the Business Plan and so may actual results.

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. To date we have taken a number of measures to offset all negative effects without compromising employee health and company’s successful operation. 

In line with expectations during 2021, the health crisis turned into an economic one causing new operational challenges. What has already started as a trend in 2021 and will dominate in 2022 is the noticeable rise of prices of many raw materials, fuel and energy, as well as the increase of transport prices globally, especially the significant extension of delivery deadlines. All this has previously started to affect the inflation rate, which will be an even more pronounced trend in 2022. Following the indications of the conflict between Russia and Ukraine starting on 24 February 2022, the Company has taken necessary measures to protect its investors, customers, and employees, by ensuring safety conditions.

The biggest challenges and a top priority in the upcoming period remain employees’ health as well as maintaining current liquidity and financial stability and achieving planned goals.