Oct 27, 2023


Zhivko Mukaetov

Chief Executive Officer / Management Board President of Alkaloid AD

2022 was another year filled with many challenges: health, logistics, energy and economy uncertainties. The economic headlines contained pessimistic scenarios such as decrease in the industrial production in the region, rise of the unemployment rate, rise of the inflation rate, unstable raw material prices – which were just some of the highlights. Such challenging times, especially like these marked with multiple prefixes, require extraordinary vigilance and precautions employed in all levels of operational management.


Despite all objective and subjective challenges during 2022, Alkaloid managed to generate positive financial results in its operations.


We achieved total consolidated sales of MKD and our consolidated net profit amounted to MKD 1.463.420.874, both growing 12% compared to 2021.


Sales amounting to 32% were effectuated in the domestic market, whereas 68% were export sales, out of which: 30% were intended for the SEE markets, 21% for the Western European markets, 16% for Eastern and 1% were for the remaining markets. Highest growths were registered in the markets of Poland, where our placements were doubled, in Romania, where we noted a growth of 81%, in USA we noted growth of 51%, Greece 41%, Georgia 35% and Bulgaria 25% growth.


In the course of 2022, we realized the first considerable sales of pharmaceutical products in Portugal, Mongolia and Chile.


88% of the total placements were effectuated by the pharmaceuticals segment, 7% in the Cosmetics, 2% in Botanicals and 3% belonged to the Chemicals segment.


According to the records of the Macedonian Stock Exchange, the shares of Alkaloid in the course of 2022, were once again amongst the most traded and the most liquid ones. Alkaloid AD Skopje, as one of the leading companies on the Macedonian Stock Exchange, in the regular stock exchange operations participated with traded MKD 887,473,666, which is 20.88% of the total turnover recorded on the first official market of the Stock Exchange in 2022. The share price of Alkaloid AD Skopje ranged from MKD 15,556 to MKD 19,400, with an average of MKD 17,475.80, which represents a

growth of 10.61% of the average price of the share compared to 2021.

In 2022, the Macedonian Stock Exchange awarded Alkaloid with the prestigious award for Most Transparent Listed Joint Stock Company in 2022 in two categories – selected by market participants and by journalists. Competing with joint-stock companies with a market capitalization of over 50 million, Alkaloid won two more awards – the Highest Increase in Turnover Award and the Stock of the Year Award. The investment public voted in the poll organized by the MSE and the Faktor web portal.


In line with the company policy for continuous investments, we remained firmly on the track during 2022, allocating MKD 1,474,213,000 in increasing and diversification of our production capacities, where I would emphasize our mega project Tablet Department 2; promotion of technological processes, expansion of the laboratory and warehousing facilities and several energy efficiency projects.

For our investment ventures in the region, amounting to EUR 104.1 million made in the course of the past 5 years, the Western Balkans Six Chamber Investment Forum presented Alkaloid with the “Lead Champion Investor in the Region”. Considering the significance of consistent investment and improvement across all areas of operation, which is a high priority in Alkaloid’s business policy, this award is another significant validation of the company’s accomplishments.

In the course of 2022, we opened our 21-st subsidiary in Bucharest, Romania, being one of our fastest growing and strategically important markets. In service of the education of future healthcare professionals, were the activities of our Foundation Trajche Mukaetov, which in the course of 2022 granted 40 new scholarships to students of medicine and pharmacy at the state university. We are pleased that we took part in the successful story of 619 scholarship holders in the past 15 years. Within this period, we invested over MKD 122 millions in Foundation scholarships and one-off

premiums for the valedictorians.


2023 announced unenthusiastic scenarios. Under such peculiar circumstances, especially in the course of the past three challenging years, Alkaloid managed to ensure the placements in all the markets where we are present. We remained partners of trust of the healthcare systems in our country and abroad, ensuring unobstructed supplies of high-quality products with affordable prices, besides the disturbed distribution channels. On this course, we are determined to stay, working on further globalization of the brand Alkaloid, employing our knowledge, expertise, high ethical standards and professional approach in our overall operations.