March 11 (SeeNews) - Croatian pharmaceuticals producer Jadran Galenski Laboratorij (JGL) said its total revenue rose 17% on to 933 million kuna ($139.7 million/123.5 million euro) in 2019.
The company did not provide any details on its net profit generated last year in a statement filed with the Zagreb Stock Exchange (ZSE) last week.
It said that the operating revenue from its core business increased by 15% to 729 million kuna in 2019, the statement reads.
JGL's earnings before interest, taxes, depreciation, and amortization (EBITDA) rose by 34% in January-December, the company said without providing a figure. Its profit before tax totalled 82 million kuna, it added without providing an annual comparison.
In 2019, the pharmaceuticals producer did business in 60 markets over the world, and raised the number of employees to more than 1,000.
The Belarus market was the fastest-growing one for JGL last year, up 62%, followed by Ukraine with growth of 24% and Russia with a 15% rise.
In 2019, JGL has opened registration processes for 47 products, and has successfully launched 118 new products on 35 markets.
In 2020, the company plans 250 million kuna of new investments in the Integra 2020 project which envisages a 60% increase of the sterile production programme, as well as the construction of a pilot facility, investment in laboratories for quality and development, as well as an expansion of the storage capacity.
The project will be developed at JGL's factory in Svilno, near the Adriatic city of Rijeka.
Founded in 1991, JGL is one of the largest drug makers in Croatia, specialising in the production of sterile nose, eye and ear drop solutions.
(1 euro = 7.55627 kuna)