Rameda reports strong revenue growth in 2023: Rameda pharma saw its revenues grow by 30% y-o-y to EGP 1.9 bn in 2023, which the company attributes to strong performance from its key verticals and several product price hikes, the firm said in its latest earnings release (pdf). Rameda’s net income remained essentially flat at EGP 253 mn, as net interest costs rose by 111% y-o-y to record EGP 194 mn.

Driving the growth: Rameda’s private sales grew by 31% y-o-y to record EGP 1.4 bn in 2023, accounting for 74% of the firm’s sales across its verticals for the year. Alongside this, the firm’s export revenues increased by 69% y-o-y to EGP 180 mn in 2023, which was driven by the “USD-denominated nature of export sales, ultimately having a favorable effect on performance given the currently depreciating state of Egypt’s local currency,” the firm said.

On a quarterly basis: Rameda’s reported net income grew 4% y-o-y to EGP 56 mn, while its revenues grew by 37% y-o-y to EGP 534 mn.

Moving forward: “Over the coming periods, Rameda will be focused on further expanding the contribution of specialty products, assessing potentially lucrative acquisitions that would better position us to generate synergies and to diversify the group’s revenue streams with new product categories falling under the freepricing regime, leaving us well-positioned to pursue and deliver on our sustainable growth objectives,” CEO Amr Morsy said.

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