US economy slows to 1.6% in Q1 of '24 – BEA    EMX appoints Al-Jarawi as deputy chairman    Mexico's inflation exceeds expectations in 1st half of April    GAFI empowers entrepreneurs, startups in collaboration with African Development Bank    Egyptian exporters advocate for two-year tax exemption    Egyptian Prime Minister follows up on efforts to increase strategic reserves of essential commodities    Italy hits Amazon with a €10m fine over anti-competitive practices    Environment Ministry, Haretna Foundation sign protocol for sustainable development    After 200 days of war, our resolve stands unyielding, akin to might of mountains: Abu Ubaida    World Bank pauses $150m funding for Tanzanian tourism project    China's '40 coal cutback falls short, threatens climate    Swiss freeze on Russian assets dwindles to $6.36b in '23    Amir Karara reflects on 'Beit Al-Rifai' success, aspires for future collaborations    Ministers of Health, Education launch 'Partnership for Healthy Cities' initiative in schools    Egyptian President and Spanish PM discuss Middle East tensions, bilateral relations in phone call    Amstone Egypt unveils groundbreaking "Hydra B5" Patrol Boat, bolstering domestic defence production    Climate change risks 70% of global workforce – ILO    Health Ministry, EADP establish cooperation protocol for African initiatives    Prime Minister Madbouly reviews cooperation with South Sudan    Ramses II statue head returns to Egypt after repatriation from Switzerland    Egypt retains top spot in CFA's MENA Research Challenge    Egyptian public, private sectors off on Apr 25 marking Sinai Liberation    EU pledges €3.5b for oceans, environment    Egypt forms supreme committee to revive historic Ahl Al-Bayt Trail    Debt swaps could unlock $100b for climate action    Acts of goodness: Transforming companies, people, communities    President Al-Sisi embarks on new term with pledge for prosperity, democratic evolution    Amal Al Ghad Magazine congratulates President Sisi on new office term    Egypt starts construction of groundwater drinking water stations in South Sudan    Egyptian, Japanese Judo communities celebrate new coach at Tokyo's Embassy in Cairo    Uppingham Cairo and Rafa Nadal Academy Unite to Elevate Sports Education in Egypt with the Introduction of the "Rafa Nadal Tennis Program"    Financial literacy becomes extremely important – EGX official    Euro area annual inflation up to 2.9% – Eurostat    BYD، Brazil's Sigma Lithium JV likely    UNESCO celebrates World Arabic Language Day    Motaz Azaiza mural in Manchester tribute to Palestinian journalists    Russia says it's in sync with US, China, Pakistan on Taliban    It's a bit frustrating to draw at home: Real Madrid keeper after Villarreal game    Shoukry reviews with Guterres Egypt's efforts to achieve SDGs, promote human rights    Sudan says countries must cooperate on vaccines    Johnson & Johnson: Second shot boosts antibodies and protection against COVID-19    Egypt to tax bloggers, YouTubers    Egypt's FM asserts importance of stability in Libya, holding elections as scheduled    We mustn't lose touch: Muller after Bayern win in Bundesliga    Egypt records 36 new deaths from Covid-19, highest since mid June    Egypt sells $3 bln US-dollar dominated eurobonds    Gamal Hanafy's ceramic exhibition at Gezira Arts Centre is a must go    Italian Institute Director Davide Scalmani presents activities of the Cairo Institute for ITALIANA.IT platform    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



Ibnsina achieves net revenues of EGP 9.4bn in 9M18, up 40.5% y-o-y
"As we approach final months of 2018, Ibnsina Pharma can look back on what has been a remarkable year following our December 2017 listing," said Co-CEO of Ibnsina Pharma
Daily News Egypt Published in Daily News Egypt on 12 - 11 - 2018

Ibnsina Pharma Egypt's fastest-growing and second-largest pharmaceutical distributor, achieved EGP 9.4bn net revenues in the first nine months of 2018 (9M18), marking an increase of 40.5% year-over-year (y-o-y), according to the financial results released on Sunday.
Moreover, the company's gross profit for the same period climbed by 35.1% y-o-y to reach EGP 807.8m, representing a gross profit margin of 8.6%.
The 9M18 saw earnings before interest, tax, depreciation and amortization (EBITDA) grow at a rapid 38.1% y-o-y to record EGP 407m, yielding an EBITDA margin of 4.3%.
The operating profit witnessed 56.2% increase to record EGP 294.3m, with the company's operating profit margin expanding to 3.1% in 9M18 from 2.8% in 9M17.
Furthermore, the statement indicates that net profit grew by 31.6% y-o-y to reach EGP 188.3m in the same period, despite one-off charges of EGP 42m incurred during the 9M18. Normalised net profit, which factors out these charges, rose by 57.6% y-o-y to post EGP 231.1m in 9M18.
"As we approach the final months of 2018, Ibnsina Pharma can look back on what has been a remarkable year following our December 2017 listing," said Omar Abdel Gawad, Co-CEO of Ibnsina Pharma.
Regarding revenues, the company achieved 31.9% y-o-y increase to record EGP 3.5bn on quarterly basis. While gross profit grew 26.1% y-o-y to EGP 343.5m. The gross profit margin stood at 9.9% for the third quarter (Q3) of 2018.
Moreover, EBITDA grew by 20.3% y-o-y during the period to record EGP 196.9m, representing an EBITDA margin of 5.7% for Q3 of 2018.
Ibnsina's operating profit grew 28.3% y-o-y during the period to record EGP 156m representing an operating profit margin of 4.5%. Meanwhile, net profit for Q3 of 2018 was up 26.6% y-o-y to post EGP 113.2m, with the net profit margin standing at 3.2%.
Mahmoud Abdel Gawad , CO-CEO of Ibnsina Pharma said that the company pursues all means it can employ, to profitably foster the market share, while enhancing the client experience above all else.
The 9M18 saw Ibnsina Pharma serve 42,297 customers across Egypt and make 6.6m deliveries, up 26.6% y-o-y.

Clic here to read the story from its source.