On August 5, 2024, Imexpharm held an Investor and Analyst Conference attended by over 50 representatives from investment funds, financial institutions, securities companies, and the media, both domestic and international. The event aimed to announce the business results for the first half of 2024 ("1H2024") and facilitate discussions about the company's direction and development plans for the second half of the year.
In 1H2024, Imexpharm continued to strengthen its leading position in the production and distribution of high-quality antibiotics, as well as expanded its presence in the ETC channel. Speaking at the conference, Mr. Nguyen An Duy, CFO of Imexpharm, shared: “We have momentum and will achieve even more impressive results in the second half of 2024, ensuring that our ambitious full-year targets are met. Imexpharm continues to innovate and flex our business as we successfully transform into Vietnam’s largest pharmaceutical company by charter capital. 1H2024 has proven Imexpharm's resilience as it performed solidly in varying market conditions, while poised for tremendous growth in both domestic and international markets."
Imexpharm's strong growth in 1H2024 is reflected in impressive figures, specifically: Net revenue reached VND1,008 billion, up 10% year-on-year; Sales revenue in the ETC channel for the first half of the year increased by 33% year-on-year; Sales revenue through the chain channel increased by 141% compared to the first half of last year; Profit before tax (PBT) and EBITDA were recorded at VND161 billion and VND215 billion, respectively, maintaining a stable EBITDA margin of 21%. Notably, Imexpharm's market capitalization, as of the closing price on July 31, reached over VND6,300 billion, up 60% since the beginning of the year.
During 1H2024, Imexpharm was active in research and development (R&D) activities and initiatives to improve business efficiency. Notable activities included: Launching 10 new SKUs and having 93 R&D on-going projects; Signing a strategic cooperation agreement with Genuone Sciences Inc.; Increasing production of high-value segment drugs at the IMP2, IMP3, and IMP4 factories; Initiating the upgrade of the enterprise planning software from SAP ECC to SAP S/4HANA.
To strengthen its charter capital foundation and support growth and business expansion plans over the next 3-5 years, Imexpharm has sought shareholder approval to issue bonus shares at a 1:1 ratio. Following approval by the shareholders' meeting and the State Securities Commission, the issuance of bonus shares to increase charter capital is expected to be completed in Q4 2024. Consequently, Imexpharm will become the Vietnamese pharmaceutical company with the highest charter capital, reinforcing its leading position and competitive ability in the market.
The conference was co-chaired by Mr. Lê Văn Nhã Phương, Deputy General Director of Production at Imexpharm. With favorable policy frameworks and plans to expand distribution channels in the North and international markets, Imexpharm's leadership announced that the company would soon commence construction of the IMP5 factory in the coming months.