March 1 (SeeNews) - Bulgarian pharmaceuticals producer Sopharma [BUL:SFA] said on Wednesday that its consolidated net profit decreased to 72.55 million levs ($39.6 million/37.09 million euro) in 2022 from 89.5 million levs a year earlier.
The the decrease was due to impairment charges of 20.8 million levs in 2022. Additionally, the 2021 profit was boosted by a gain of 36.1 million levs from acquisitions and disposals of subsidiaries, the company said in a financial statement.
Sopharma’s operating expenses expanded to 1.61 billion levs last year from 1.56 billion levs in 2021. The rise was mainly due to cost of assets sold, which rose to 1.21 billion levs from 1.17 billion levs. The company also had higher costs for materials.
In parallel, revenue improved slightly to 1.68 billion levs from 1.66 billion levs. Sales climbed by 3.7% to 1.66 billion levs, with growth reaching 10% when adjusted for the deconsolidation of subsidiaries in Latvia and Belarus.
Sopharma said it held a share of 2.48% of the Bulgarian pharmaceuticals market in terms of value as of the end of 2022, maintaining its position from 2021.
As at CET 1343 on Wednesday, shares in Sopharma traded 1.92% higher at 5.30 levs on the Bulgarian Stock Exchange.
(1 euro = 1.95583 levs)