Letter to the shareholders
Dear shareholders, dear friends,
It's been a year of review - on our 85th anniversary, we looked back to enjoy our successes, to thank the people with whome we've achieved them and celebrate with everyone we want to share our future with. Thank you for sharing!
We are proud to have been among the pioneers with two major initiatives - we have distributed shares to all our employees according to their length of service and contribution to the company's successes and distributed the first interim dividend. We have received support from our shareholders for both initiatives, which has always been an important indication for us confirming that we are doing the right thing.
Sopharma Group has gone through a difficult path of integration of the newly acquired companies Lekovit in Serbia and the pharmacies chain PharmaStore in Bulgaria, as well as of the merged company Unipharm.
After the exceptionally strong 2017, we kept the growth rates of consolidated sales revenue, but we slowed down on net profit. In achieving synergy with newly acquired and merged companies, we expect optimization of the operating and net results over the next two years and ratios closer to those of 2017.
We hope for your support and trust!
Ognian Donev, PhD
Chairman of the Board of Directors and Executive Director of Sopharma AD
Key Financial Results
|Deprecation and amortization (EBITDA)||72,278||85,944||16.7%|
|Operating profit/Sales revenue||3.3%||5.5%|
|Net profit/Sales revenue||2.6%||4.5%|
|Net debt/EBITDA, annualized||4.15x||3.02x|
2017 starts with good news concerning the registration and further development of our product Tabex
Medica AD and Sopharma AD signed a contract for transformation through merger
Sopharma AD announces that the Competition Council of The Republic of Moldova allows the acquisition of over 51% of RAP Pharma International SRL by Sopharma AD
Sopharma AD and Medica AD signed an annex to the Contract for transformation through merger reflecting the comments by the FSC
Sopharma AD acquired 51% of the Moldova pharmaceutical distributor RAP Pharma International
The Financial Supervision Commission approved the Contract for transformation through merger and the additional annex to it between Sopharma AD and Medica AD
AGM of Sopharma AD
Sopharma AD acquired 75% from the capital of the successful start-up for development and registration of food additives Aromania
The transformation through merger of Medica AD in Sopharma AD has been registered with the Commercial Register
Unipharm AD and Sopharma AD signed a contract for transformation through merger
Annual Meeting with Investors
Sopharma AD received two notifications from Rompharm Company OOD for the sale of shares from the capital of the company
Sopharma AD received an approval from the FSC of the contract for transformation through merger of Unipharm AD in Sopharma AD
New Development and Products
with marketing authorizations for the period January - December 2017. Marketing authorizations for three new products have been issued.
Amlodipine tablets 5 mg
Amlodipine tablets 10 mg
Expected in 2018
Three to six new products are expected to be introduced by the end of the 2018.
Over 30 production processes and technologies are in the processes of transfer, validation and optimization. Pharmaceutical development is carried out of 4 new medicinal products and one active substance.