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Zentiva's profit up by almost 98% in H1 2024
Zentiva drug manufacturer registered a net profit of 143.025 million RON in the first half of this year, 97.7% higher than the one obtained in the same period of 2023, according to the data sent to the Bucharest Stock Exchange on Friday.
(1 euro = 4.9769 RON)
The company's turnover increased by 22.3%, from 450.6 million RON in the first six months of 2023 to 551.3 million RON in the first half of 2024, mainly due to the increase in sales of goods by 24%.
External sales represented 39.98% of the total turnover (220.38 million RON), compared to 51.65% in the period January-June 2023 (232.76 million RON). The external sales of medicines were made through a company within the Zentiva Group (Zentiva k.s.) and were mainly intended for the markets of the European Union.
The share of OTC products (medicines sold without a prescription) in the company's sales was 4.2% in the first semester of 2024, compared to 3.6% in the same period of 2023.
Operating expenses increased by 5.5%, to 406.8 million RON. The variation in operating income and expenses led to an operating result for the first six months of 2024 of 144.6 million RON, compared to 65.2 million RON in the first half of 2023.
During the mentioned period, the investments were 20.1 million RON and aimed at new production equipment and the modernization of the existing ones.
The company, previously known as Sicomed SA Bucharest, was founded in 1962 as the Bucharest Medicines Company (IMB). In 1990, Sicomed became a joint-stock company, by incorporating and taking over the entire patrimony of the former IMB. The main object of activity is the production and sale of preparations and medicines for human use.
Zentiva shares are traded in the Standard Category of the Bucharest Stock Exchange since 1998. Zentiva Group a.s. owns 95.9486% of the company's share capital.