Binnopharm Group’s net revenue reached RUB 36.7 billion in 2024
Binnopharm Group, a leading Russian pharmaceutical company, has published its financial results 2024 following International Financial Reporting Standards (IFRS).
Net revenue in 2024 increased by 12.9% (+4.2 billion rubles) and reached 36.7 billion rubles, compared to 32.5 billion rubles a year earlier.
Operating profit increased significantly, reaching 6.2 billion rubles, up 53.9% (+2.2 billion rubles) from 4.0 billion rubles in the previous year.
Adjusted EBITDA amounted to RUB 9.6 billion. Net debt at the end of the period was 19.8 billion rubles. The net debt/EBITDA ratio is at the target level of 2.1x.
In 2024, production sites collectively increased their output of medicinal products to 363 million packages. The total volume of pharmacy sales of medicinal products and dietary supplements by Binnopharm Group exceeded 48 billion rubles. According to data from the analytical agency AlphaRM, the company ranked sixth among the leaders in the pharmaceutical market, showing a 19% increase in retail sales compared to 2023. At the end of the year, the company became the second largest manufacturer among Russian pharmaceutical corporations in the retail market, with a 2.7% share.
Khafiz Gafurov, CFO, Binnopharm Group: «The 12.9% increase in revenue confirms the resilience of our business model amid market volatility. At the end of 2024, adjusted EBITDA reached RUB 9.6 billion, ensuring the necessary amount of liquid funds. The goal for 2025 is to reduce the credit burden, use resources efficiently, complete large-scale investment projects, and continue expanding into international markets while maintaining the high-quality standards of our products».
In January-March 2025, Binnopharm Group successfully placed the fourth issue of bonds of the 001P series (001P-04) and the fifth issue of bonds of the 001P series (001P-05) for a total amount of RUB 10 billion. The proceeds from the placement are used to refinance current debt and implement the company's strategic projects.
