Hikma Pharmaceutical delivers year of ‘solid growth’

by | Feb 24, 2022

Drugmaker Hikma Pharmaceutical said on Thursday that it had delivered another successful year of “solid growth and continued strategic momentum”, with both revenue and operating profits improving year-on-year.
Hikma said full-year revenues were 9% year-on-year at $2.55bn, while operating profits ticked up 1% to $582.0m and earnings per share were broadly flat at 182.3p

Core operating profits were up 12%, driven by a further step up in margin over at its generics unit, while core profit attributable to shareholders was up 10% at $450.0m.

However, pre-tax profits at the FTSE 100-listed firm edged down 2.5% to $544.0m.

Hikma highlighted that it had maintained a “healthy balance sheet”, with net debt of $420.0m and low leverage at 0.6x net debt to core underlying earnings, and that it had also hiked its total dividend per share by 8% to 54.0p.

Chief executive Siggi Olafsson said: “Hikma delivered strong financial results in 2021, marking another successful year of solid growth and continued strategic momentum. Our operational strength and high-quality standards ensured our ability to provide customers with a consistent supply of essential medicines in a challenging environment.”

As of 0810 GMT, Hikma shares were down 4.20% at 1,928.50p.

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