Goodwill Pharma Plc. significantly increased its net sales revenue last year by 27% compared to the previous year, with the company's after-tax profit amounting to HUF 2.155 billion, compared to HUF 1.502 billion a year earlier, according to the consolidated report published by the Szeged-based pharmaceutical company on the BSE website.
According to the balance sheet, the company's net sales revenue increased from HUF 14.762 billion in 2023 to HUF 18.7 billion last year. The group's operating profit rose to HUF 2.482 billion in 2024 from HUF 1.533 billion in the previous year. According to the report, the outstanding growth in earnings is due to an increase in the proportion of higher-margin, in-house manufactured and developed products within sales, as well as the absence of one-off costs related to the restructuring of the company last year. The company sells more than 200 products, including medicines, medical devices and dietary supplements.
More than 38% of the company's consolidated sales revenue comes from exports, the growth of which was in line with the increase in total sales.
Last November, the company completed the investments it had started under the Hungarian Multi program: it expanded its logistics center, tripling its storage capacity, completed its headquarters in downtown Szeged, built the infrastructure necessary for pharmaceutical production, and introduced a corporate management system.
Last year, the company established new subsidiaries in Austria and the Czech Republic.
Goodwill Pharma signed a long-term distribution and promotion agreement with Novartis last year and took over innovative pulmonology products in September, which were expanded this year to include an ophthalmology portfolio.
In order to minimize supply chain problems, the company decided in 2022 to significantly increase its inventories and maintained this high inventory level in 2023 and last year. In 2024, the value of inventories on the balance sheet exceeded HUF 5.3 billion.
The pharmaceutical company's research and development costs reached HUF 600 million in 2024.
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