16. 3. 2023

Krka Releases 2022 Unaudited Financial Statements

3 min. read

Krka released the 2022 unaudited financial statements of the Krka Group and the controlling company Krka, d. d., Novo mesto today. The report was published on the Ljubljana Stock Exchange website after being discussed by the company’s Supervisory Board at their meeting yesterday. The Krka Group revenue in 2022 totalled €1,717.5 million, up 10% on 2021, the highest since incorporation. The Krka Group’s unaudited net profit was €363.7 million, an increase by €55.5 million year-over-year, or 18%, i.e. also the highest so far. The 2022 Annual Report is being released on Thursday, 13 April 2023.

The President of the Management Board and Chief Executive Jože Colarič explained: “As reported in January, Krka Group operations in 2022 were successful and in line with expectations. The actual full-year sales value remains as reported in the 2022 unaudited performance estimate, while operating profit and net profit have exceeded our estimates by €0.9 million and by €2.5 million, respectively. Last year’s performance testifies to the fact that we are responsive and well-prepared to adapt instantly to new opportunities and challenges arising from changed circumstances, and this is owing to our resilient vertically integrated business model. We will continue to pursue this model also in the future.”

Financial Highlights

  Krka Group Company
€ thousand 2022* 2021 Index 2022* 2021 Index
Revenue 1,717,453 1,565,802 110 1,553,514 1,381,367 112
– Of that revenue from contracts with customers (products and services) 1,708,542 1,560,288 110 1,356,075 1,211,494 112
Gross profit 974,393 891,208 109 890,182 766,535 116
Earnings before interest, tax, depreciation and amortisation (EBITDA) 488,895 463,625 105 440,086 358,188 123
Operating profit (EBIT) 381,211 354,788 107 357,870 273,325 131
Profit before tax (EBT) 433,073 362,417 119 412,258 285,956 144
Net profit 363,662 308,150 118 348,215 245,216 142
R&D expenses 162,580 154,559 105 158,292 150,232 105
Investments 105,974 66,386 160 79,540 49,493 161

Performance Ratios

  Krka Group Company
  2022* 2021 2022* 2021
Gross profit margin 56.7% 56.9% 57.3% 55.5%
EBITDA margin 28.5% 29.6% 28.3% 25.9%
EBIT margin 22.2% 22.7% 23.0% 19.8%
EBT margin 25.2% 23.1% 26.5% 20.7%
Net profit margin (ROS) 21.2% 19.7% 22.4% 17.8%
Return on equity (ROE) 17.9% 16.8 % 17.7% 13.4%
Return on assets (ROA) 13.9% 12.9% 14.1% 10.6%
Liabilities/Equity 0.257 0.322 0.221 0.294
R&D expenses/Revenue 9.5% 9.9% 10.2% 10.9%

* The 2022 data are unaudited.

Krka Group Sales

Sales growth was recorded in all sales regions and most sales markets, for all product groups and services.

Product and Service Sales by Region

In 2022, the Krka Group generated €1,708.5 million of revenue from contracts with customers on the sales of products and services, an increase by €148.3 million or 10% compared to the 2021 results.

      Region Slovenia,6.0
Region South-East Europe,13.1
Region East Europe,36.5
Region Central Europe,21.3
Region West Europe,19.2
Region Overseas Markets,3.9
    

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