Gross profit margin in the first six months of 2018 was 58%, while net profit margin was 9%. In the first six months of 2018, the Group’s production was exported to 75 countries worldwide, a total of 65.7 million euro, which is by 4.5 million euro or 7% more than in the first six months of 2017.

The Chairman of the Council of JSC Grindeks Kirovs Lipmans: “Sustainable vision enables Grindeks to adapt well to the global pharmaceutical market trends and competition. Achievement of the objectives set by the Council of Grindeks is facilitated by permanent investments in sales and marketing, as well as innovations and constant product portfolio development”.

Sales volume of the final dosage forms in the first six months of 2018 was 65.6 million euro and increased by 3.9 million euro or 6% in comparison to the first six months of 2017. In the first six months of 2018, the sales amount in Russia, the other CIS countries and Georgia reached 43.1 million euro, which is by 1.4 million euro or 3% more than in the first six months of 2017. In comparison to the first six months of 2017, in the first half-year of 2018 the biggest increase in sales volume was reached in Uzbekistan (35%), Kirgizstan (28%), Kazakhstan (21%), Armenia and Belarus (15%) and Ukraine (12%).

Sales volume of the final dosage forms in the EU countries in the first six months of 2018 reached 21.3 million euro, which is by 2.5 million euro or 13% more than in the first six months of 2017. Sales volume in the first six months of 2018, compared with the first six months of 2017, has increased by 4 times in Poland, by 2.3 times in Czech Republic, by 2 times in Australia, by 89% in Finland, by 68% in Denmark, by 64% in the Netherlands and by 34% in Slovakia.

In the first six months of 2018, sales of the active pharmaceutical ingredients reached 4.3 million euro, which is by 0.52 million euro or 14% more than in the first six months of 2017. During this reporting period Grindeks mostly exported its active pharmaceutical ingredients to the EU countries, Japan, Australia and the U.S. The most required active pharmaceutical ingredients of Grindeks in the first six months of 2018 were dexmedetomidine, zopiclone, pimobendan, tegafur, oxytocin, medetomidine, detomidine, atipamezole.

The Chairman of the Board of JSC Grindeks Juris Bundulis: “From the geographical perspective, our performance in the first half-year of 2018 indicates the biggest sales growth was reached in the EU countries, which is in line with our long-term strategy to increase the presence of Grindeks in the stable and predictable European pharmaceutical market. The global competition remains fierce and Grindeks uses all its advantages to accomplish objectives”.

To see the company’s financial statements, click here: http://grindeks.eu/for-investors/financial-reports/