EGYPTIAN INTERNATIONAL PHARMACEUTICALS (EIPICO)
PHAR
Financial ResultsPositive News
EIPICO Smashes 2023 Targets with EGP 5B Sales, Aims for EGP 6.5B Revenue Leap in 2024
EIPICO achieves record sales and eyes ambitious revenue growth with strategic investments and market expansion.
February 12, 2024 at 10:30:00 AMScore: 88
Cairo-based pharmaceutical giant EIPICO has delivered stellar results, crushing its 2023 goals with sales surpassing EGP 5 billion. The company reported export revenues of $54 million, capturing 26% of Egypt's total pharmaceutical exports and dominating 30% of Africa-bound shipments. With a production volume of EGP 5.6 billion and EGP 3.8 billion invested in facility upgrades, EIPICO is charging ahead. Chairman Ahmed Kelani unveiled bold 2024 plans: EGP 800 million in new investments and a revenue target of EGP 6.5 billion, fueled by domestic and export growth. Net profits soared 54% year-on-year to EGP 644 million in the first nine months of 2023, signaling strong momentum.
Recommended Actions
- Consider holding EIPICO stock for long-term growth
- Monitor export performance in Q1 2024 reports
- Review EGP 800M investment allocation details
- Track Egypt's pharmaceutical export policies
- Compare with regional pharma stock valuations
Positive Aspects
- 54% profit growth year-on-year
- Dominant Africa export market share
- Strategic facility investments
Negative Aspects
- Potential overvaluation risks if 2024 targets aren't met
- Dependence on export market stability
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