January 30 (SeeNews) - Bulgarian pharmaceuticals producer Sopharma [BUL:SFA] said on Monday that its standalone net profit soared to 40.4 million levs ($22.44 million/20.66 million euro) in 2022 from 24.3 million levs the year prior.
Sopharma posted 244.5 million levs in revenue last year against 217.2 million levs in 2021, the company said in an interim financial statement.
Exports to European countries grew by an annual 16.3% to 117.2 million levs as sales in Russia and Ukraine increased, by 11% and 20%, respectively. Domestic sales went up by 9.8% to 86.9 million levs, while other markets surged by 34.7% to 24.2 million levs, due to a rise in exports to countries in the Caucasus and Central Asia.
The company's operating expenses climbed to 199.3 million levs in the review period from 190.3 million levs a year earlier, the statement showed.
Last week, Sopharma said that it has sought consent from the Financial Supervision Commission to absorb its majority-owned local subsidiary Biopharm Engineering.
As of 1500 CET on Monday, shares in Sopharma traded 0.45% higher at 4.46 levs on the Bulgarian Stock Exchange.
(1 euro = 1.95583 levs)