EGX30 newbie Eipico’s net income rises 33.2% y-o-y in 2024

Local pharma player Eipico saw its net income rise 33.2% y-o-y to EGP 1.1 bn in 2024, according to the company’s latest financials (pdf). The firm also posted a 45.1% y-o-y increase in revenues, which came in at EGP 7.6 bn for the year.

REMEMBER- Eipico was recently added to the EGX30, alongside Orascom Development, Rameda, EgyptAlum, Ibn Sina Pharma, and Qalaa Holdings, as part of the EGX’s most recent semi-annual review.

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Breaking it down: The company’s sales in the domestic market rose 40.4% y-o-y to EGP 4.4 bn and exports registered a 57.1% y-o-y increase to EGP 2.5 bn, according to the board of directors’ report (pdf). Also helping push net income up was a 401.3% increase in FX gains to EGP 699.9 mn. Biting into the bottom line were marketing expenses rising 41.1% y-o-y to EGP 915 mn and financing expenses rising 135.5% y-o-y to EGP 960.1 mn.