WOOD Flash – Alkaloid: strong 1Q23, driven by exports and antibiotics
Alkaloid has delivered a strong start to the year, with its 1Q23 earnings driven by sales in both its Eastern (Russian/CIS) and Western European markets, with the former growing by c.150% yoy, to a record MDK 886m. Sales in both regions appear to have been driven, in large part, by Alkaloid’s core antibiotics portfolio – including cephalosporins – with 68% yoy sales growth. The company’s investment in new cephalosporin capacity seems to be paying off, as demand recovers from the pandemic lull; a good cold and flu season, likely supported other antibiotics, as well the OTC portfolio. We note, however, that sales of cardio drugs, its third-largest segment, fell in 1Q, which likely contributed to the flattish revenues in the domestic and SEE markets.
WOOD & Company is the leading investment bank in Emerging Europe. Founded in 1991 and head-quartered in Prague, our footprint spans the region and touches investors around the globe.
A pioneer in Emerging Europe, WOOD executed many of the first CEE equity trades and landmark investment banking transactions. Our electronic trading platform was the first in the region, and remains the best. We are continually expanding our relevance and reach in these ever-evolving markets.
Our equity market share reflects our stature: 7% in Warsaw, 20% in Bucharest, 16% in Hungary, 40% in Prague and 5% in Vienna. Our distribution is unparalleled, with the largest salesforce in the region, servicing a uniquely diverse investor base.
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