Latest news with #JamjoomPharma
Zawya
30-04-2025
- Business
- Zawya
Saudi: Jamjoom Pharma logs $42mln net profits in Q1-25
Riyadh - Jamjoom Pharmaceuticals Factory Company (Jamjoom Pharma) achieved net profits amounting to SAR 157.03 million in the first quarter (Q1) of 2025, an annual growth of 52.50% from SAR 102.97 million. Revenues soared by 18.69% to SAR 457.53 million in Q1-25 from SAR 385.46 million in Q1-24, according to the interim financial results. Earnings per share (EPS) recorded a jump to SAR 2.24 as of 31 March 2025 from SAR 1.47 a year earlier. Quarterly, the Q1-25 net profits hiked by 204.26% from SAR 51.61 million in Q4-24, while the revenues increased by 76.17% from SAR 259.70 million. The comapny's net profits reached SAR 356.52 million in 2024, up 21.93% YoY from SAR 292.40 million. Source: Mubasher
Argaam
26-02-2025
- Business
- Argaam
Jamjoom Pharma 2024 revenue growth reflects operational improvements: CEO
Tarek Hosni, CEO of Jamjoom Pharmaceuticals Factory Co. (Jamjoom Pharma), said the company generated revenues of SAR 1.3 billion in 2024, marking a 20% year-on-year (YoY) increase, driven by operational improvements and strong sales of high-margin products. In a meeting with investors and financial analysts, Hosni said the EBITDA margin hit 33.2%, generating SAR 437 million—up 27% from the previous year. Net profit stood at SAR 357 million, which could have reached SAR 370 million if not for the precautionary provisions taken by the company. Jamjoom Pharma launched nine new products in 2024 across several therapeutic areas, including consumer health and antibiotics, the top executive said. He added that the company's strategy is to launch six to 10 products annually to strengthen its market share. Hosni said the company is expanding its presence in the biologics and biosimilars sector while exploring new opportunities in weight-loss and type 2 diabetes treatments. Additionally, Jamjoom Pharma plans to open new manufacturing facilities. The company doubled its production capacity over the past three years, increasing from 88 million units in 2021 to an expected 170 million in 2024. In addition, it continues to enhance production efficiency while maintaining capital expenditures within the target range of 4% to 6% of revenue. The firm also saw an 11% growth in Saudi Arabia, the GCC (30%), Iraq (11%), North Africa (22%), and Egypt (19%), the CEO said, noting that all key markets achieved double-digit growth rates. During the meeting, CFO Anwer Mohiuddin highlighted that production and raw material costs increased by 23% due to higher manufacturing volumes across all facilities. However, the company effectively managed costs, helping to sustain profitability levels. Further, Hosni said Jamjoom Pharma reviewed its strategy at the end of 2024 and set a new vision focused on expanding in the GCC, Asia, and North Africa. The company aims to make strategic investments to acquire market share and strengthen its leadership in key sectors. The management is committed to achieving a 12% annual revenue growth from 2025 to 2027 while maintaining a 30% profit margin. It also plans to continue distributing 50% to 60% of profits on a semi-annual basis.
Argaam
11-02-2025
- Business
- Argaam
Jamjoom Pharma provides SAR 27.1M guarantee to JV in Algeria
Jamjoom Pharmaceuticals Factory Co.'s (Jamjoom Pharma) joint venture in Algeria, Jamjoom Algeria lil Dawa (Jamjoom Algeria), renewed on Feb. 10 a Shariah-compliant short-term revolving banking facility with Al Salam Bank Algeria at DZD 2 billion (SAR 55.3 million). To support the credit facility issuance, Jamjoom Pharma provided a corporate guarantee of DZD 980 million (SAR 27.1 million) to the bank, in line with Algerian law and in proportion to its joint venture share, the company said in a statement to Tadawul. The facility aims to fund the short-term working capital requirements, the statement added. However, the company said that the previous guarantee of DZD 666.4 million (SAR 18.50 million), announced on Nov. 22, 2023, in favor of the bank was no longer valid. Jamjoom Algeria is a related party as the company's board members, Mahmoud Yousuf Jamjoom and Ahmed Yousuf Jamjoom, have a direct interest as board members of the Algeria venture. Meanwhile, Jamjoom Pharma members – Yousuf Salah Jamjoom, Mohammed Yousuf Jamjoom, and Alaa Yousuf Jamjoom – have an indirect interest.
