reports
- Ghada JENDOUBI
An unhealthy year
During Q4 2016, the pharmaceutical laboratory’s revenues declined by 9% to TND23.328m, pulled down mainly by a yoy drop of 11.9% in branded products’ revenues as well as a decrease in export sales, reaching TND0.151m against TND0.8m a year earlier. Nevertheless, sales to hospitals increased by 50% to TND1.234m. Q4 2016 production was up 12.8% to 5.677 million units. Adwya ended the year with a 4.8% sales decline on the back of a regression in almost all product lines, namely branded produ...
- Ghada JENDOUBI
The "wait-and-see" attitude persists...
Q3 2016 revenues declined 1.4% to TND20.588m, pulled down mainly by a drop of 5% in the branded products’ revenues and a fall of 4% in sales to hospitals. The production volume increased by 18.4 to 5,119,118 million units. Over the three first quarters, Adwya’s revenues were set at TND61.419m against TND63.375m a year earlier, a decrease of 3.08% due mainly to a drop of 3.14% in the branded products’ sales, as well as a collapse in sales to hospitals (-30.8%).
- Ghada JENDOUBI
An expected downward trend
Adwya’s H1 2016 revenues witnessed a drop of almost 4% to reach TND40.83m against TND42.5m on 30/06/2015 (-2.2% expected by AlphaMena over 2016), mainly pulled down by a 40.8% decline in hospital revenues. The EBITDA is set at TND5.198m vs. TND6.132m in the end of June 2015. Thus, the company saw its EBITDA margin decreasing by 170 bps to 12.7%%. Moreover, EBIT dropped by 27.8% to TND3.064m. The bottom-line collapsed by 80.5% to TND0.592m.
A sluggish Q1 2016
The pharmaceutical laboratory recorded a slight 0.47% decline in revenues to TND20.91m (vs. TND20.81m in Q1 2015), mainly pulled down by a 3.1% decrease in Generics sales to TND7.26m. Branded products’ sales have witnessed a slight increase of 0.4% to TND12.39m. However, Hospital Model’s revenues have fallen by 10.5% to TND862k. Total production dropped by 1.2%. Investments amounted to TND0.72m against TND0.91m in Q1 2015, a 20.7% decline on a yoy basis.
A satisfactory Q4
The revenues improved by 22.8% during Q4 2015, pulled up by a jump of the export sales, as well as a rise of 15.2% and 29.7%, respectively, for the branded products and the generics. Thus, Adwya closed the year 2015 with revenues of TND89.03M, corresponding to a growth of 3.24% compared with 2014. The generics and the branded products achieved an increase of 4.08% and 1.43% yoy, respectively. Concerning the export sales, revenues have witnessed a significant climb amounting to TND1187.5M vs.
Q3, nothing special
The Q3 revenues increased by 7.7% pulled up by 6% and 7.9% growth for branded products and generics, respectively. Over the nine first months, sales amounted to TND63.4M compared to TND62.6M a year later, i.e. a 1.2% increase. Exports grew slightly from TND0.226M in September, 2014 to TND0.382M in September, 2015. Investments are valued at TND6.3M for the whole period.
An H1 in snail mode
ADWYA's H1 results were boosted by a positive change in inventories of final products, worth TND2.76M, despite the 1.4% sales decrease to TND42.5M. EBITDA increased from TND5.7M in June 2014 to TND6.1M in June 2015. The operating profit decreased slightly from TND4.33M to TND4.25M in the same period. The H1 net profit rose from TND2.77M to TND3.03M, thanks to forex gains.
Growth with an exhausting slope
Adwya’s sales decreased by 1.7% in June, 2015, pulled down by the branded products because of GSK's supply problems. In fact, the revenues of the branded products dropped from TND25.6M in H1 2014 to TND24.5M in H1 2015. However, this decline was reduced from 12.5% in Q1 2015 to 4.3% in H1 2015, confirming the recovery of GSK's line of products. Generics displayed a modest growth rate of 3.4%, contributing 35% to sales, vs.
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