16. 5. 2024

Krka Reports First Quarter 2024 Business Results

2 min. read

In the first quarter of 2024, the Krka Group generated revenue of €486.1 million, up 6% year on year, yielding €98.8 million in net profit, up 11% year on year. The Supervisory Board of Krka discussed the Q1 2024 business report of the Krka Group and Krka at its regular meeting yesterday.

The President of the Management Board and Chief Executive Jože Colarič explained: ‘On 23 April, seven decades passed since a daring vision, creativity, and enthusiasm put Krka, a pharmaceutical company from Novo mesto, Slovenia, on the map. Many generations of employees have harboured the same values through the years – speed and flexibility, partnership and trust, and creativity and efficiency – making Krka one of the leading generic pharmaceutical companies in the world. We will continue to operate with the same drive and social responsibility in the future. In the first quarter of 2024, we generated the highest sales and net profit to date. Earnings before interest and taxes remained high. Krka generates robust cash flow from operating activities, a comfortable funding source for our operating liabilities and investments, and pursues long-term dividend policy. The Supervisory Board and Management Board have proposed that Krka shareholders receive a dividend of €7.50 gross per share for 2023, a 13.6% increase on last year. Shareholders will vote on this proposal at the 30th Annual General Meeting of 11 July 2024. Krka is stable, our strategy resolute, and we have knowledge, perseverance and a clear vision, an excellent starting point for the future. I am glad that our stakeholders recognise this as well.’

Financial highlights

€ thousandJan–Mar 2024Jan–Mar 2023Index
– Of that revenue from contracts with customers (products and services)484,104456,253106
Gross profit279,941279,595100
Earnings before interest, tax, depreciation and amortisation (EBITDA)138,468146,19295
Operating profit (EBIT)114,188120,09495
Profit before tax (EBT)118,644106,520111
Net profit98,77289,011111
R&D expenses46,86443,914107

Performance ratios

 Jan–Mar 2024Jan–Mar 2023
Gross profit margin57.6%61.0%
EBITDA margin28.5%31.9%
EBIT margin23.5%26.2%
EBT margin24.4%23.2%
Net profit margin (ROS)20.3%19.4%
Return on equity (ROE)17.7%16.4%
Return on assets (ROA)14.1%13.1%
R&D expenses/Revenue9.6%9.6%


Product and service sales by Region

      Region Slovenia,6.2
Region South-East Europe,14.3
Region East Europe,32.3
Region Central Europe,24.1
Region West Europe,19.2
Region Overseas Markets,3.9