I. REPORT ON BUSINESS AND PRODUCTION RESULTS IN JULY 2022
(Unit: Billion dongs)
|Criteria||July 2022||YTD 31 July 2022||%Planned 2022||YTD 31 July 2021||Growth rate|
|Total net revenue and other incomes||125.4||808.1||55.7%||699.8||15.5%|
|Profit before tax||21.0||146.2||53.2%||127.6||14.6%|
Imexpharm’s total net revenue and other income in the first 7 months of 2022 reached VND 808.1 billion, increased 15.5% over the same period, and made up 47.1% of the annual plan set by the General Meeting of Shareholders. The OTC channel has impressive growth of over 41%, while the ETC’s has not fully recovered yet and witnessed a negative growth of 11.2%. IMP mainly distributed self-manufacturing products accounting for 97.5% of the total accumulated revenue until July 2022.
Meanwhile, IMP’s pre-tax profit in the first 7 months of 2022 attained VND 146.2 billion, which is equal to 53.2% of the annual plan and grew by 14.6% year over year. The growth rate of profit before tax was lower than the net revenue’s figure. The reason behind this issue mainly came from the increase in administrative expenses by about 32% in comparison with the number of the last year corresponding period because of the influence of fuel price and rise in basic salary, as well as the resume of training and coaching activities after a hiatus due to the pandemic. Besides, the COGS is still well controlled. Also in the first seven months of 2022, COGS climbed by 14.1%, and selling expenses rose approximately 14% year over year. In addition, IMP’s gross profit margin was 43% and slightly higher than 42% for the same period in 2021.
The pharmaceutical market has gradually recovered as before the 4th pandemic outbreak in Vietnam at the end of 2021. IMP expects the revenue and profit in the third quarter continues to grow to achieve the annual plan set by the General Meeting of Shareholders.
II. IMPSTOCK IN JULY 2022
Through 21 trading sessions in July, the total trading volume of IMP shares reached 194,400, which is 63,2% compared to the same period in 2021 and including 69.800 shares transacted via the order-matching method and 124.600 shares dealt via the put-through method. While the volume of put-through trading was approximately equal to the same period last year, the volume of order-matching transactions was just 40,2% of the amount in July last year.
In July, SK Investment Vina III has conducted a transaction with Red Capital (KBA’s mother company), which led to an increase in indirect ownership of IMP shares by 4,9 million shares (accounting for 7.37%), along with the direct ownership of 46.57% shares, which contribute to firm their strategic shareholder position at IMP.
III. REMARKABLE ACTIVITIES IN JULY 2022 AND PLANS IN AUGUST 2022
July marked a milestone for IMP with a series of activities to celebrate the 45th year of establishment, including sports, music, innovation contest, and cultural programs, etc with the participation of more than 1000 employees from all factories and branches nationwide. It was an opportunity to be grateful and honored for the achievements in 45 years and strive for more accomplishments in the future.
In particular, the IMP4 factory has completed the review process and certified the EU – GMP Certificate by the Hungarian National Institute of Pharmacy and Nutrition on July 18, 2022. It will open up opportunities for Imexpharm to penetrate more deeply into the Grade 1 bidding segment. It also increases our competitiveness with foreign drugs due to our affordable prices.
SSI assessed that the healthcare industry would continue to develop sharply in the second half of 2022. Such a circumstance could create opportunities for IMP to accelerate to meet the 2022 plan. In August, IMP will persist in boosting sales and reviewing debt as well as inventory to ensure the achievement of the Q3 target.