Annual Review

2018: a year of
review on our
85^th anniversary

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Our
purpose

is to provide efficient and accessible
medicines through continuing
innovation and sustainable development.

Letter to the
Shareholders

It's been a year of review - on our 85th anniversary, we looked back to enjoy our successes, to thank the people with whom we've achieved them and to celebrate with everyone we want to share our future with. Thank you for sharing!

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Key indicators

Sopharma group

In 2018 SOPHARMA GROUP registered 16% growth in sales revenue

1179143

(+16%)

BGN '000 Revenues from sales

39143

(-30%)

BGN '000 Operating profit

72278

(-16%)

BGN '000 EBITDA

30637

(-33%)

BGN '000 Net profit

Sopharma AD

2018 was a year of reviewing and setting new targets

212418

(-3%)

BGN '000 Revenues from sales

27798

(-35%)

BGN '000 Operating profit

45212

(-26%)

BGN '000 EBITDA

33298

(-25%)

BGN '000 Net profit

Key financial indicators
Sopharma group

BGN '000	2018	2017	2016
Revenues from sales	1 179 143	1 017 105	877 085
EBITDA	72 278	85 944	73 656
Operating profit	39 143	55 836	44 951
Net profit	30 637	45 772	54 902
EBITDA/ sales revenues	6%	8%	8%
Operating profit/ sales revenues	3%	6%	5%
Net debt/ EBITDA an annual basis	4.1x	3.0x	2.8x
Attracted capital/ Equity	0.99	0.95	0.75

“Sopharma” AD

BGN '000	2018	2017	2016
Revenues from sales	212 418	219 079	182 396
EBITDA	45 212	61 313	43 849
Operating profit	27 798	42 866	28 363
Net profit	33 298	44 228	38 347
EBITDA/ sales revenues	21.30%	28%	24%
Operating profit/ sales revenues	13%	20%	16%
Net debt/ EBITDA an annual basis	1.6x	1.2x	1.61x
Attracted capital/ Equity	0.24	0.24	0.24

REVENUE BREAKDOWN BY SEGMENTS IN 2018

PORTFOLIO OF PRODUCTS BY THERAPEUTIC GROUPS IN 2018

GEOGRAPHICAL SPLIT IN 2018

Environment, Social activity and Management

In order to ensure sustainable development, the Company works successfully on reducing its environmental footprint by adhering to good corporate governance practices, optimizing raw materials usage, utilizing waste, improving people's quality of life and providing excellent working conditions.

4895

EMPLOYEES IN 2017

743

DONATION IN 2017

BGN '000

5073

EMPLOYEES IN 2018

598

DONATION in 2018

BGN '000

Environment, Social activity and Management

767575

REVENUES FROM SALES OF GOODS IN 2017

BGN ‘000

743

REVENUES FROM SALES OF PRODUCTS IN 2017

BGN ‘000

928334

REVENUES FROM SALES OF GOODS IN 2018

BGN ‘000 (+20.94%)

250809

REVENUES FROM SALES OF PRODUCTS IN 2018

BGN ‘000 (+0.51%)

Environment, Social activity and Management

9%

OF REVENUES FROM SALES OF PRODUCTS IN 2017

RAW MATERIALS

8%

OF REVENUES FROM SALES OF PRODUCTS IN 2018

RAW MATERIALS

MANAGEMENT TEAM

44%

Women

56%

Men

PROFILE AND
STRATEGY OF
THE COMPANY

Established and reliable company
with 85 years of history

LEADERSHIP IN BULGARIA

Leader in the health sector in Bulgaria with a strong market position

GEOGRAPHICAL EXPANSION

Strong presence and good results in rapidly developing CIS markets, continuous expansion in new geographic regions

PRODUCT DIVERSIFICATION

Diverse product portfolio including phyto-based products developed in the Company with potential for growth in new markets

STRONG PERFORMANCE

Stable financial performance in key markets despite the unfavorable macroeconomic environment coupled with superior profitability and strong balance sheet

VERTICALLY INTEGRATED MODEL

Leading producer and distributor, vertically integrated in one Group creating competitive advantage

M&A POTENTIAL

Proven potential for successful mergers and acquisitions that create value

Values
& commitment

Our values

Our commitment

Top Quality

We produce generic medicines, traditional product and our top-brands with exceptional quality.

Health lifestyle

We promote health care through social projects and provide reliable information.

Integration

We facilitate closer relationships and reasonable unities.

Socially responsible

We work with and support local and global communities.

Strong partner

We build sustainable profitable partnerships.

Omnidirectional growth

We promote growth of both business and people.

Sustainable development

We create wealth through profit and growth.

23 FEB 2018

An extraordinary general Meeting of Shareholders was held

15 JUN 2018

A Regular 15 general Meeting of Shareholders was held and June it decided to allocate bonus shares among all employees on the occasion of the 85 anniversary of “Sopharma” AD

01 AUG 2018

An extraordinary general Meeting of Shareholders was held Aug and it decided merge “Unipharm” AD into “Sopharma” AD

14 SEP 2018

An extraordinary general meeting of Shareholders was held and it decided on the first payment of an interim dividend

23 OCT 2018

More than 10 thousand employees, partners and friends celebrated the 85 anniversary of “Sopharma” AD in Arena Armeec, Sofia

16 NOV 2018

An Annual meeting with investors with management of “Sopharma” AD and “Sopharma Trading” AD and a visit in the Regional distribution center of “Sopharma Trading” AD with automatic KNAPP system were held