I. BUSINESS AND PRODUCTION PERFORMANCES IN MARCH 2020
(Unit Measurement: billion dongs)
| Criteria |
March 2020 |
YTD 31st, March 2020 |
% 2020 plan |
YTD 31st, March 2019 |
Growth rate |
| Total net revenue and income |
142.1 |
304.3 |
17.4% |
276.3 |
10.1% |
| Net revenue |
141.8 |
303.7 |
|
273.2 |
11.2% |
| Profit before tax |
26.5 |
51.4 |
19.8% |
45.4 |
13.2% |
Total net revenue and income of Imexpharm in March reached 142.1 billion dongs, went up 14.7% year over year. Total net income and revenue in the 1st quarter of 2020 achieved 304.3 billion dongs, increased 10.1% compared to last year. Imexpharm products were playing a significant role in revenue structure, made up 87.3%. Net revenue in the first 3 months of 2020 also rose 11.2% in comparison with the previous year.
Profit before tax in Mar increased by 26.8% compared to March of 2019. Total Imexpharm profit before tax in Quarter 1 was 51.4 billion dongs, grew 13.2% year over year.
Ratios of OTC, ETC in the 1st quarter were 69.5% and 30.5% respectively. ETC and OTC were going up in Q1/2020. Overall, ETC is making up more and more in revenue structure.
Cost of Goods Sold in Q1/2020 was 176.3 billion, which rose 11.1% compared to the same period of last year. This growth rate was nearly equal to the one of net revenue, which depicted that Imexpharm had tightly controlled input expenses to keep product cost stable.
Selling expenses in Q1 increased 2.5% year over year. In detail, selling expenses in Q1/2020 was 53.4 billion dongs and in Q1/2019 was 52.1 billion dongs. Administrative expenses went up 5.8% compared to the one of last year. Boosting sales in the ETC channel contributed to saving costs for the Company; therefore, this selling expense had slightly increased. Administrative expense rose but it was under control range.
Currently, the COVID-19 pandemic is going complicated. Nevertheless, Imexpharm business operation keeps an upward trend, which indicates that the Company is well-managed in uncertain movements of the market.
II. IMP STOCK IN MARCH 2020
IMP’s price in March fluctuated and followed the overall trend of the domestic and global markets. Investors’ fears and chaos due to COVID-19 pandemic effects had pushed IMP price to plummet from 57.800 dong/share at the opening round of the month to 42,400 dong/share at closing round of March, which equalized to the decrease rate of 26.6% (Close price on April 10th, 2020 was 48,800 dong/share). Total transaction volume in March reached 2,433,990 shares and the total trade volume of whole quarter 1 achieved 6,203,750 shares. IMP liquidation was improved significantly in Q1/2020.
III. Key Objectives in Q2/2020
- The most important objective in Q2/2020 of Imexpharm is to ensure a sufficient amount of materials for production in the last 6 months of the year in the context of COVID-19 pandemic, which assures that business and production plans shall be met effectively in 2020.
- Some activities of the Company were postponed due to impacts of the epidemic such as: validating EU-GMP for IMP4 in Binh Duong, holding Annual General Meeting of Shareholders 2020. If the pandemic is more positively controlled in Q2/2020, Imexpharm shall reschedule such activities.
However, the most significant issue at present is to ensure that 1,300 employees stay and work safely, which is a top priority. The Company allows officers and sales division to work from home, production division is also strictly following the Decretive of the Prime Minister. All Imexpharm employees limit maximally travels in the pandemic. However, plans and arrangements have to be made to ensure effective performance in the pandemic.