Sopharma Trading standalone top line expands by 10.4% in Q1 2018

Pharmaceuticals wholesaler Sopharma Trading expanded its standalone top line by 10.4% to BGN 181.7m in Q1’18 on higher sales in all segments, according to the Company’s financial statements for Q1’18. During the first quarter, Sopharma Trading increased its revenues in all segments, with medical devices segment surging 39% y/y to BGN 2.1m, retail segment rising 13% y/y to BGN 104m, hospital segment increasing 8% y/y to BGN 41.8m, and the wholesale marking the lowest growth of 3% y/y to BGN 33.8m.

In Q1’18, the Company’s profitability improved considerably, as the net profit increased by 14.5% y/y to BGN 5m.

During the period, Sopharma Trading held 21.3% of the overall local market share.

Sopharma Trading Jsc. closes 2017 with 10% growth in the accumulated revenue and 9% in profit before

2017 was the eleventh consecutive year in which Sopharma Trading realized growth in its main financial indicators. The revenue from sales of goods reached 672 120 ths. BGN or with 10% growth than 612 734 ths. BGN written in company audited 2016 financial report. The profit before taxes for the twelve months increased by 9% to 16 172 ths. BGN vs. 14 826 ths. BGN registered in Sopharma Trading’s 2016 certified books.

The revenue of Sopharma Trading achieved only in December reached a new peak of 66 035 ths. BGN or with 19% more compared to 55 478 ths. BGN in 2016. The profit before taxes increased by 88% to 1 521 ths. BGN.

Plans for expansion in the next 3 years

Sopharma Trading plans to diversify its business model and expand its market shares, the company’s CEO Dimitar Dimitrov announced in an interview in Bulgarian media Dimitrov said that Sopharma Trading’s investment in Serbian peer Lekovit would set Sopharma’s ground for further strategic expansion in the country. Additionally, Sopharma envisions new acquisitions in the Balkan region.

The CEO disclosed forecasts for double growth of turnover and tripling of net income in the next three years. The targets are to be reached through a consolidation strategy in Serbia and growth in its market share in the region. Furthermore, the company will continue the development of its retail pharmacy brand SOpharmacy, aimed at providing a wider range of health services to its clients, on both the domestic market and abroad. More

Check the latest equity research reports by ELANA Trading