EGYPTIAN INTERNATIONAL PHARMACEUTICALS (EIPICO)
PHAR
Financial ResultsPositive News
EIPICO Soars to EGP 823M Profit in 2023 Amid Revenue Surge
EIPICO reports a 28% profit surge to EGP 823M in 2023, driven by record sales, though EPS declines slightly.
February 29, 2024 at 11:44:00 AMScore: 92
Egyptian International Pharmaceutical Industries (EIPICO) achieved a consolidated net profit of EGP 823.3 million in 2023, marking a notable increase from EGP 643.76 million in 2022. The company’s net sales skyrocketed to EGP 5.23 billion, up from EGP 3.95 billion the previous year. Standalone results also showed growth, with net profit rising to EGP 730.08 million from EGP 589.15 million, and revenues hitting EGP 5.01 billion compared to EGP 3.79 billion in 2022. However, earnings per share (EPS) dipped slightly to EGP 5.15 in 2023 from EGP 5.94 in 2022. Notably, EIPICO crossed EGP 5 billion in total sales for the year, with consolidated net profits in the first nine months of 2023 surging to EGP 644.14 million from EGP 417.79 million in the same period of 2022.
Recommended Actions
- Consider holding EIPICO stock for long-term growth potential.
- Monitor EPS trends in upcoming quarters for recovery signs.
- Review analyst reports on EIPICO's market position and growth strategies.
- Compare EIPICO's performance with sector peers for relative valuation.
- Stay updated on regulatory changes impacting pharmaceutical margins.
Positive Aspects
- 28% increase in consolidated net profit
- 32% surge in annual net sales
- Standalone profit growth of 24%
Negative Aspects
- Earnings per share (EPS) declined by 13% year-over-year.
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