Gedeon Richter Reports Revenue Growth and Improved Profitability for 2016
Pharmaceutical company Gedeon Richter Plc. released its 2016 annual report, showing revenue growth and a significant improvement in net profit. The company focused on research and development, particularly in women's healthcare and central nervous system disorders.
Budapest, Hungary – Gedeon Richter Plc. reported its 2016 financial results, indicating a revenue increase of 6.7% to HUF 389.7 billion (approximately EUR 1.25 billion). The profit for the year grew by 24.4% to HUF 67.0 billion (approximately EUR 215 million), with earnings per share (EPS) improving by 22.3% to HUF 356.
The company's core business segments are the research, development, manufacturing, and marketing of pharmaceutical products, alongside wholesale and retail activities. Richter has expanded its regional and global presence, notably in the specialized area of women's healthcare.
In 2016, research and development efforts were concentrated on women's healthcare and central nervous system (CNS) disorders. The company also continued its biosimilar product development. The annual report acknowledges a challenging industrial environment while highlighting the company's commitment to innovation and high-value products.
The Chairman's letter to shareholders reflects on the company's 18-year growth trajectory, with revenues having more than quintupled and EPS nearly tripling. A dividend of HUF 106 per share was proposed, representing a 47.2% increase from the previous year.