Middle East

Julphar reports net sales of Dhs 419.9 million in Q2 2022

Gulf Pharmaceutical Industries (Julphar), one of the largest pharmaceutical manufacturers in the Middle East and Africa, has announced results for the second quarter of 2022.

The company reported strong performance with net sales of Dhs 419.9 million in Q2 2022, an increase of 91% over Q2 2021.

While geopolitical headwinds have impacted year-to-date and quarterly sales in markets such as Algeria, Ethiopia and Morocco, Julfer’s business and productivity have remained consistent across these markets. is a segment operation.

The strong performance reflects increasing focus on Julphar’s core markets in MENA, improving market access and expanding the company’s product portfolio.

Earnings before interest, tax, depreciation and amortization (EBITDA) from continuing operations reached Dhs 44.2 million in the second quarter of 2022. This builds on the successful implementation of his turnaround plan in Q1 2022 where the company reported his EBITDA of Dhs 40 million.

The quarter returned to double-digit margins of 10.5% of net sales. Gross margin for Q2 2022 reached his 34%.

Julphar’s Chairman of the Board Sheikh Saqer Bin Humaid Al Qasimi said: The successful completion of the turnaround plan in the first quarter of 2022 paved the way for the strong results achieved in the second quarter. Heading into the second half of the year, Julphar is in a strong position and well positioned to achieve sustainable growth in line with its Strategic Objectives 2030. We are confident that Julphar will re-emerge as the market leader. ”

Dr. Essam Mohammed, CEO of Julphar, said: As we move into our next phase of growth, we will continue to expand our geographic reach and new launches with the ultimate ambition of delivering sustainable value to our patients, shareholders and stakeholders. ”

The company’s 2030 Growth Strategy, announced in early 2022, delivers sustainable growth and value for all stakeholders. Toward the ultimate goal of tripling Julphar’s earnings by 2030, our management team will continue to execute a strategy built around six core pillars. Dedicated. Maximize revenue from current product portfolios, new product launches, geographic expansions, strategic business initiatives, advanced specialty products initiatives and inorganic growth initiatives.

read: UAE’s Julphar records Dhs1.9m in Q1 2022 net profit

https://gulfbusiness.com/uaes-julphar-reports-dhs419-9m-in-net-sales-for-q2-2022-marking-a-91-increase-over-last-year/ Julphar reports net sales of Dhs 419.9 million in Q2 2022

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