Saudi Pharmaceutical Industries and Medical Appliances Corp. announces its Interim Financial Results for the Period Ending on 2023-09-30 ( Nine Months )

Saudi Pharmaceutical Industries and Medical Appliances Corp. announces its Interim Financial Results for the Period Ending on 2023-09-30 ( Nine Months )

| Consolidated net loss amounted to SAR 38.4 million in Q3 FY2023 compared to a net loss of SAR 45.9 million in Q3 FY2022 mainly driven by the net impact of the following:

|

•Revenue: Increased by 6.9%, or the equivalent of SAR 24.6 million, to SAR 381.6 million.

Revenue from sale of products reported an increase of 8.7% up to SAR 343.6 million fueled by sales improvement within the private and government channels. This was marginally offset by a drop in revenue from services which reported a 6.9% decline due to lower agency services from one of our subsidiaries.

•Gross Profit: Increased by 34.7%, or the equivalent of SAR 42.8 million, up to SAR 166.0 million for Q3 FY2023. This improvement can be primarily attributed to the commercial strategy, which resulted in a favorable client mix, an improved portfolio of marketable products, and effective cost management. Consequently, the gross profit margin for Q3 FY2023 came at 43.5%, compared to 34.5% in the same quarter of the previous year.

•Selling, General and Administrative Expenses (SG&A): Rose by 4.8%, the equivalent of SAR 6.9 million, to SAR 150.4 million, compared to SAR 143.5 million in Q3 FY2022. This slight increase stemmed primarily from higher spending on