I. REPORT ON BUSINESS AND PRODUCTION RESULTS IN OCT 2021
Total net revenue and other income in Oct 2021 attained VND 105.5 billion, which was reduced by 11.9% year over year. Profit before tax dropped by 7% compared to the figure of Oct 2020. Sales and profits of Imexpharm continued to decline in Oct due to the impacts induced by the pandemic and unrecovered market after activities are resuming.
Total net revenue and other incomes accumulated unit end of Oct 2021 of Imexpharm were VND 990.9 billion, decreasing by 2.2% in comparison with the previous year’s number and meeting 64.8% of the annual plan. In which, net revenue reached VND 974.4 billion, falling by 2.7% year over year. Profit before tax of 10 months was VND 175.1 billion, being equal to 60.4% of the yearly target and going down by 7.3% compared to the result of 2020.
(Unit: Billion dongs)
|Criteria||Oct 2021||YTD Oct 31st, 2021||% Plan of 2021||YTD Oct 31st, 2020||Growth rate|
|Total net revenue and other income||105.5||990.9||64.8%||1,013.1||-2.2%|
|Profit before tax||20||175.1||60.4%||188.8||-7.3%|
Despite focusing on key products to enhance gross margin, implementation of 3 or 4 on the spot models made the expenses of Imexpharm surge and the degree of drop in the cost of goods sold is similar to one of net sales at 2.2%. On the other hand, selling expenses accumulated until the end of Oct increased by 3.9%, and administrative expenses slightly rose by 0.7%. Imexpharm has been well-managing expenditures to improve profit before tax. However, because of the decline in revenue and increase in expenses to maintain business and production continuity in the context of the pandemic, profits of the Company witnessed a negative growth year over year.
II. IMPSTOCK IN OCTOBER 2021
In Oct 2021, there were 542,308 stocks being transacted, in which 269,800 shares were dealt via order matching on the Stock Exchange and 272,508 stocks were traded thanks to the put-through method. The total transaction volume of Oct 2021 was equal to 31.6% of number of the corresponding period last year, especially the number of order matching shares was only 16% of the figure of Oct 2020. IMP stock price was kept stable in Oct 2021. In detail, the closing price of the first transaction day of the month was VND 73,000 whereas the closing price of the last round was VND 73,800
III. IMEXPHARM PLANS IN AUGUST 2021
Inventories and account receivables of Imexpharm in the last 2 months of 2021 are still monitored closely to assure the quality objectives set in 2021.
EU-GMP accreditation for the IMP4 schedule is always followed tightly and at present, all preparations have been already completed. The Company has planned that the factory will be inspected in 2021 and received the certification in 2022.
In Oct 2021 the Board of Directors of Imexpharm has issued a resolution to obtain shareholders’ written opinions to increase foreign ownership room and to waive the public offering process for the shareholder-SK Investment Vina III to acquire shares of other foreign investors. The procedure to obtain shareholders’ written opinions shall be implemented as soon as possible.