Imexpharm hosted an event where they announced their financial results for the first half of 2024 (“1H2024”) and engaged in lively discussions about their business direction and development plans for the second half of the year.
During 1H2024, Imexpharm solidified its leading position in the manufacturing and distribution of high-quality antibiotics, as well as in the ETC channel. Speaking at the conference, Mr. Nguyen An Duy, Deputy CEO of Finance, shared, “We are on a strong growth trajectory, and the second half of 2024 will be even more impressive, ensuring we meet our goals. Imexpharm continues to innovate and remain agile in our business with a planned chartered capital that will be the largest among Vietnamese pharmaceutical companies. 1H2024 has proven our resilience as we operated stably in a volatile market while also being ready for strong growth in both the domestic and international markets.”
Imexpharm’s robust growth in 1H2024 is evident from the impressive figures: net revenue reached VND 1,008 billion, a 10% increase compared to the same period last year; sales revenue in the ETC channel during the first half increased by 33% year-on-year; sales revenue through the chain channel surged by 141% compared to the previous year; profit before tax (PBT) and EBITDA were recorded at VND 161 billion and VND 215 billion, respectively, maintaining a stable EBITDA margin of 21%. Notably, the company’s market capitalization as of the closing price on July 31 was over VND 6,300 billion, marking a 60% increase since the beginning of the year.
Mr. Nguyen An Duy, Deputy CEO of Finance, shares insights at the conference. Source: Imexpharm.
In its business operations during 1H2024, Imexpharm actively engaged in research and development (R&D) activities and initiatives to improve operational efficiency. Notable activities include: launching 10 new SKUs and currently working on 93 R&D projects; signing a strategic cooperation agreement with Genuone Sciences Inc.; increasing production for high-value-segment drugs at IMP2, IMP3, and IMP4 factories; and initiating a project to upgrade the enterprise resource planning software from SAP ECC to SAP S/4HANA.
To strengthen its chartered capital and support its growth plans and business expansion over the next 3-5 years, Imexpharm sought shareholder approval for a 1:1 bonus share issue. After obtaining shareholder approval and SSC approval, the bonus share issue to increase chartered capital is expected to be completed in Q4 2024. Consequently, Imexpharm will become the Vietnamese pharmaceutical company with the highest chartered capital, further solidifying its leading position and competitiveness in the market.
Product research and development at Imexpharm’s EU-GMP-standard manufacturing facility. Source: Imexpharm.
The conference was co-chaired by Mr. Le Van Nha Phuong, Deputy CEO of Production at Imexpharm. With favorable policy frameworks and a direction to expand distribution channels in the North and international markets, the company’s management shared that they had initiated the IMP5 factory project in the past few months to ensure the company’s growth strategy for the coming years.
Novaland reports over VND 1,600 billion in profit for Q4/2023, bond debt reduced by VND 6,000 billion in one year.
In 2023, Novaland achieved a profit of over 800 billion VND, in contrast to the first half of the year when the company incurred a loss of over 1,000 billion VND.
Three Economic Growth Scenarios for Ho Chi Minh City in Q1 2024
At the socio-economic meeting reviewing the results of January and setting the goals for February 2024, held this morning (1/2), the Ho Chi Minh City Institute for Research and Development has presented three economic growth scenarios for the first quarter of Ho Chi Minh City.
