Sothema improves its turnover by 16.8%

Sothema’s consolidated turnover stood at 581 million dirhams (MDH) during the first three months of 2022, an improvement of 16.8% compared to the same period a year earlier.

This increase is explained by the increase in the volume of Sothema’s business (+15.4%), the business of Sothema’s shaping activity (+23.8%) and sales through the WAPH subsidiary in Senegal ( +20.6%), specifies the pharmaceutical laboratory, in a press release on its quarterly indicators.

Consolidated EBITDA (Earnings before interest, taxes, depreciation, and amortization – earnings before interest, taxes and amortization) recorded growth of 20.6% to 150 MDH in Q1-2022, thus reflecting, according to the same source, the continuous improvement in operational efficiency achieved by Sothema.

In social, Sothema’s turnover recorded an increase of 15.4% to 580 MDH, thanks mainly to the accentuation of sales in the private market (+15.4%) and the stimulation of sales in the public segment. (+26.8%).

“Sothema has enriched its drug portfolio to increase its revenue through new product launches that generated additional revenue of 1.7 million dirhams in the first quarter of 2022,” the statement said.

Regarding the gross operating surplus (EBITDA), it increased by 22.8% to 156 million dirhams, supported by the growth in turnover of the laboratory’s product mix.

Investments stood at 3 MDH at the end of March 2022, the same level as in Q1-2021. Net debt improved by 9.5% to 98 million dirhams. Gearing remains weak and competitive in the 1st quarter of 2022 (7.9% against 9.9% in Q1-2021).

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