Apr 28, 2023

ALKALOID – operating results for the January – March 2023 period

ALKALOID reached consolidated sales of 70.5 million EUR, increased the consolidated export by 28%, invested EUR 5.6 million and hired 47 new employees in the country in the period January - March 2023.



As the unaudited stand-alone Income Statement shows, in the January - March 2023 period sales increased by 15% and reached MKD 3,104,714,658 while total consolidated sales increased by 20% reaching MKD 4,346,596,075 compared to the same period last year.


Sales by region and country


Consolidated sales on the domestic market increased by 3%. The total consolidated export of the company grew by 28%. 28% of the total consolidated sales went on the domestic market, while foreign markets account for 72%. The breakdown by region shows that South-East Europe countries took 29% share of the sales, 22% of the sales went to the countries of Western Europe (EU and EFTA), Eastern Europe (CIS, UA…) took a 20% share, while other markets account for 1% of the total consolidated sales.


Sales in Armenia had the highest growth where sales were tripled, followed by Romania with an increase of 51%, then Georgia 40%, Greece 22%, Croatia 13%, Montenegro 12%, Bulgaria 11%, Kosovo 9%, Great Britain 9%, Slovenia 7%, Hungary 6% etc.


Sales by product group


Broken down by product group, the highest share of the total consolidated sales belongs to the Pharmaceuticals segment with 90%, more specifically, antibiotics account for 33%, OTC products 18%, cardiovascular products 11%, neurological products 11% etc. The Chemistry, Cosmetics and Botanicals segment has a share of 10% of the total consolidated sales, or more precisely Chemistry 2%, Cosmetics 6% and Botanicals 2%. Total sales are up in Pharmaceuticals and in Cosmetics segments compared to the same period in 2022. The Pharmaceuticals segment is up by 22% and Cosmetics 19%.




In the January – March 2023 period a total of MKD 346,520,151 has been invested in fixed assets.


Operating results


Stand-alone earnings before interest, taxes, depreciation and amortization (EBITDA), which amount to MKD 598,921,588 marked an increase of roughly 12%, whereas net profits rose by 19% to MKD 355,523,149.


Consolidated earnings before interest, taxes, depreciation and amortization (EBITDA) reached MKD 758,445,142 - an increase of 19%, while net consolidated profit of MKD 441,583,321 grew by 22%.


In its operations ALKALOID AD Skopje engaged more than 1,000 domestic suppliers.




In the period January – March 2023 ALKALOID AD Skopje recruited 47 new employees in the R.N. Macedonia. In March 2023 the Management Board of ALKALOID AD Skopje decided to approve and pay holiday allowance to its employees in amount of MKD 36,500 net. The ALKALOID Group has 2,678 employees, of which 2,039 in the country and 639 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 17,200.00 to MKD 18,100.00 in the January-March 2023 period, with an average of MKD 17,787.37 per share. On 31.03.2023 5,365 individuals and companies held ALKALOID AD Skopje shares, while its market capitalization was MKD 25.64 billion.


Business plan 2023


The business plan for 2023, adopted by the Management Board of ALKALOID AD Skopje at its December 29th, 2022 meeting, anticipates investment of around 11% of the consolidated revenue in tangible and intangible assets, growth in consolidated sales of 10% compared to 2022, and growth in pre-tax consolidated profit of 7% in comparison to 2022.


The 2023 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 2023 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 energy and economic crisis. To date we have taken a number of measures to offset all negative effects without compromising the company’s successful operations.


In line with expectations, what dominated in 2022 and continued in the first quarter of 2023 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 the following period.


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.