Oct 28, 2021

Alkaloid – operating results for the January – September 2021 period

In the January - September 2021 period Alkaloid invested MKD 850 million, hired 178 new employees in the country, and increased the consolidated profit by 17%.


As the unaudited standalone Income Statement shows, in the January - September 2021 period sales increased by 4% and reached MKD 7,165,890,933 while total consolidated sales increased by 6% reaching MKD 9,449,288,430 compared to the same period last year.

Sales by region and country

Consolidated sales on the domestic market increased by 6%. 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 33% share of the sales, 19% of the sales went to the countries of Western Europe (EU and EFTA), Russia and CIS took a 12% share, while other markets account for 1% of the total consolidated sales.

The German market had the highest growth of 123%, followed by Poland with an increase of 92%, then Russia 52%, Ukraine 47%, Hungary 42%, Bulgaria 26%, Czech Republic 25%, etc. In the Pharmaceuticals segment Alkaloid had sales in 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 87%, more specifically, OTC products account for 20%, antibiotics 19%, cardiovascular products 14%, neurological products 14% etc. The Chemistry, Cosmetics and Botanicals segment has a share of 13% of the total consolidated sales, or more precisely Chemistry 3%, Cosmetics 8% and Botanicals 2%.


In the January – September 2021 period a total of MKD 850,639,878 has been invested in fixed assets.

Operating results

Standalone earnings before interest, taxes, depreciation and amortization (EBITDA), which amount to MKD 1,687,034,470 marked an increase of roughly 14%, whereas net profits rose by 16% to MKD 978,479,923.

Consolidated earnings before interest, taxes, depreciation and amortization (EBITDA) reached MKD 1,766,595,559 - an increase of 14%, while net consolidated profit of MKD 989,201,826 grew by 17%.

In its operations Alkaloid engaged 1.055 domestic suppliers.


In the January – September 2021 period, Alkaloid hired 178 new employees domestically. 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. The Alkaloid Group has 2,511 employees, of which 1,933 in its Skopje headquarters and 578 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 18,350.00 in the January-September 2021 period, with an average of MKD 15,272.83 per share, which is a growth of 26.5% compared to the average price in the same period in 2020. On 30.09.2021 5,114 individuals and companies held Alkaloid shares, while its market capitalization was MKD 24.5 billion.

Business plan 2021

The business plan for 2021, adopted by the Managing Board of Alkaloid AD Skopje at its December 29th, 2020 meeting, anticipates investment of around 12% of the consolidated revenue in tangible and intangible assets, growth in consolidated sales of 7% compared to 2020, and growth in pre-tax consolidated profit of 7% in comparison to 2020.

The 2021 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

The company faced a number of internal and external challenges and emerging risks caused by the COVID pandemic. To date we have taken a number of measures to offset all negative effects without compromising employee health and company’s successful operation. Employee health, maintaining current liquidity, financial stability and achievement of planned goals remain top priorities for the future.