Reig Jofre Increases Profit by 62% in 2022, Up to €8.1 Million

Reig Jofre increases earnings. The Spanish pharmaceutical company achieved a profit of €8.1 million euros in 2022, which translates into an increase of 62% compared to the data for 2021, as reported by the group in a statement sent to the National Securities Market Commission (Cmv).

For the company, it has been a year in which the recovery of the antibiotic market has been confirmed, while the new injectable plant in Barcelona began manufacturing on an industrial scale.

The Catalan pharmacy closed 2022 with €271 million in revenue, 15% more than in 2021, thanks to the recovery in the sale of antibiotics, the new manufacturing capacity available in the new plant, the growth in consumer healthcare products, and higher revenues from the new subsidiary in Poland. For its part, the gross operating result (EBITDA) was €30.4 million in 2022, a figure 11% higher than that of a year ago.

The largest division, Pharmaceutical Technologies, dedicated to injectable products and antibiotics, grew 20%; Specialty Pharmacare, focused on prescription medical products, increased 7%, while in consumer healthcare, the consumer products division, grew 16%.

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Reig Jofre registered an EBITDA of €30.4 million in 2022, 11% more than in 2021

Spain concentrated 44% of the group’s sales, with a 12% increase in revenue, while the rest of the European markets grew 25%. Sales in the rest of the countries, which represent 9% of turnover, fell by 13% after the peak demand represented by essential drugs linked to the pandemic in previous years.

Reig Jofre’s investment during 2022 was €13.4 million and the most notable project was the construction and commissioning of the new production line at the Swedish plant. Net financial debt stood at 62.3 million euros at the end of the year, compared to 96 million euros the previous year.

The company has highlighted that the end of 2022 confirms the trend of previous quarters, with growth in sales and EBITDA, in a year of consolidation of industrial projects and international expansion, for which reason “it is expected that in 2023 the positive evolution of the business”, highlights the company.

Likewise, Reig Jofre insists that although it must face increases in the costs of materials and energy, the progressive use of the new manufacturing capacity, the international development strategies, the consolidation of new launches and the potential inorganic growth will be the “axes of our growth” in 2023.

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(Featured image by JerzyGorecki via Pixabay)

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First published in PlantaDoce, a third-party contributor translated and adapted the article from the original. In case of discrepancy, the original will prevail.

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