Egypt: EIPICO’s consolidated net profits near $21.02mln in 2022

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Cairo – Egyptian International Pharmaceutical Industries (EIPICO) posted consolidated net profits after tax worth EGP 643.76 million in 2022, an annual hike from EGP 488.28 million, including non-controlling equity.

The sales jumped to EGP 3.95 billion last year from EGP 3.40 billion in 2021, according to the income statements.

Total assets hit EGP 6.77 billion as of 31 December 2022, higher than EGP 5.23 billion a year earlier.

Standalone Financial Results

EIPICO’s standalone net profits after tax rose to EGP 589.15 million in 2022 from EGP 483.91 million in 2021, whereas the sales widened to EGP 3.79 billion from EGP 3.33 billion.

Non-consolidated earnings per share (EPS) grew to EGP 5.94 last year from EGP 4.88 during January-December 2021, whereas the total assets increased to EGP 6.59 billion from EGP 5.16 billion.

In the first nine months (9M) of 2022, the EGX-listed firm recorded a 28.80% year-on-year (YoY) rise in consolidated net profit to EGP 417.79 million from EGP 324.17 million, including minority shareholders' rights.