Outstanding financial results

Imexpharm's net revenue in Q3 2024 reached VND 545 billion, a 17% increase compared to the same period last year. This result stems from maximizing its leading position in the ETC channel, with revenue in this channel increasing by 47% in Q3 compared to the same period last year.

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Discussion session at Imexpharm's General Shareholders' Meeting. Photo: Imexpharm

Imexpharm's report also noted that the OTC channel is beginning to recover, with third-quarter revenue increasing 8% year-on-year. Total sales through the pharmacy chain in the first nine months of 2024 increased 158% year-on-year.

Pre-tax profit and EBITDA in Q3 2024 increased by 5% and 3% respectively compared to the same period last year. In the first nine months of 2024, pre-tax profit and EBITDA reached VND 252 billion and VND 334 billion, down 12% and 4% respectively compared to the same period last year (compared to decreases of 19% and 7% in the first six months). Revenue in September 2024 at IMP4 was double that of August and triple that of September 2023.

The EBITDA margin increased to 22% at the end of Q3 thanks to strong revenue growth, coupled with increased production at IMP4 and effective control of General Selling & Administrative Expenses, which increased by only 2.8% year-on-year.

Outstanding business activities

In the first nine months of 2024, the output of the High-Tech Plant - IMP4 increased significantly. At the same time, the company also increased production capacity at IMP2 and IMP3 to meet market demand.

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Employees working at IMP's EU-GMP certified factory. Photo: Imexpharm

In the first nine months of 2024, the company launched 16 new products with 99 ongoing R&D projects. Imexpharm also implemented state-of-the-art software - SAP S/4HANA, becoming a pioneering pharmaceutical company in Vietnam to apply this advanced technology in its operations and customer service.

Changes in the Board of Directors and the General Management Board

The company has appointed Ms. Le Nu Minh Hoai as Deputy General Director of Imexpharm. Ms. Hoai has 30 years of experience in the international and Vietnamese pharmaceutical industry.

Following Ms. Chun Chaerhan's resignation on September 26th, Imexpharm proposed appointing Mr. Woo Sung Min, who has over 20 years of management consulting experience in Asia, to the Board of Directors, pending shareholder approval.

Imexpharm also announced the completion of its bonus share issuance, becoming the leading listed pharmaceutical company in terms of charter capital. This increases the company's competitiveness, boosts IMP stock trading, improves liquidity, and strengthens its capital base in preparation for expansion plans over the next 3-5 years.

New factory investment plan

Imexpharm has announced its plan and is currently seeking shareholder approval in writing for the construction of the Cat Khanh Pharmaceutical Factory Complex Project in Dong Thap province , with the goal of diversifying its product portfolio and expanding into new export markets.

The project covers a total area of ​​25,000 m2, with an estimated total investment of VND 1,495 billion. The estimated investment capital will include 20% equity and 80% borrowed capital. The company expects to complete construction by the end of 2028 and begin commercial operations between December 2028 and the first quarter of 2030.

Market outlook

The Government 's Action Plan, announced in February 2024, aims to implement Vietnam's National Strategy for the pharmaceutical industry, further facilitating Imexpharm's growth. Accordingly, it is projected that domestic production capacity will meet 80% of domestic pharmaceutical demand and 70% of the total market value by 2030.

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General Director Tran Thi Dao speaks at Imexpharm's 2024 Annual General Meeting. Photo: Imexpharm

Ms. Tran Thi Dao, Member of the Board of Directors and General Director of Imexpharm, stated: “In the past third quarter, Imexpharm achieved impressive growth. This confirms the sound strategy, competitive advantages, and over 45 years of experience of Imexpharm in the market. It also affirms the tireless contributions of over 1,400 employees, along with the efforts of the leadership team and the guidance of the Board of Directors, especially Ms. Chun Chaerhan.”

I believe that with a strategy of investing deeply in product quality, transferring advanced technology, expanding the drug portfolio, penetrating international markets, and increasing production capacity, Imexpharm will always maintain its position as a leading pharmaceutical company in Vietnam, and gradually become a well-known name in the Asian pharmaceutical market.”

Imexpharm is a manufacturer and distributor of high-quality antibiotics in Vietnam. With over 45 years of history, Imexpharm has always been a pioneer in the Vietnamese pharmaceutical industry, adhering to safety and quality standards. The company has a strategic and financial foundation ready for growth in both domestic and international markets; it has been, is, and will continue to expand its product portfolio into new areas of treatment and healthcare.

By the end of the first nine months of 2024, IMP's share price had increased by 97% since the beginning of the year, significantly higher than the 14% increase of the VN-Index on the Ho Chi Minh City Stock Exchange.

Bich Dao