Julphar reports strong financial results in profits revenues and cash from operations for the fiscal year 2024

17^th March 2025, Ras Al Khaimah, UAE: Gulf Pharmaceutical Industries (Julphar), a prominent leading pharmaceutical company in the MENA region, today announced its financial audited results for the fourth quarter and the full year of 2024.

Julphar continues to deliver strong results and sustains its growth momentum, driven by robust margin expansion, operational excellence, and enhanced financial performance.

The Company’s revenues reached AED 1,312.5m, reflecting 2.7% growth on reported currency from continued operation compared to the same period last year, and 4.1% growth on constant currency basis. Profitability sustains its steady growth trend reporting a profit of AED +44.9m, a sharp improvement from AED -98.5m previous year. EBITDA from continued operations tripled versus same period last year and reached AED 144.7m, exhibiting the successful execution of the strategic and operational efficiency initiatives.

Additionally, Julphar exhibited a disciplined financial position with strong cash flow from operations reaching AED 245m, a significant growth from AED 93.6m in the same period last year, driven by effective working capital management and profitability improvement. Profit from continuing operations reached AED 16.3m compared to a loss of AED 75.9m in 2023, discontinued operations result for 2024 included mainly a one-time gain from divestment of a wholly owned subsidiary; Daibtec LLC of AED37.6m. Julphar business continues to demonstrate resilience driven by its diverse portfolio, the successful registration of 72 new products across MENA which will be launched gradually, and extensive manufacturing capabilities. The unwavering dedication and commitment of our team across all our markets remain key to delivering strong results as we focus on our strategy execution and laying the foundation for long-term sustainable growth.

During Q1, 2025 legal formalities related to the divestment of Zahrat Alrawda chain pharmacies in the kingdom of Saudia Arabia were concluded and the transaction was closed, this will further provide fuel to focus on our core business. Julphar reaffirms its 2025 outlook by continuing to build and evolve its portfolio with important investments and new partnerships, launching distinguished products, continuously improving operational and financial efficiencies.

Sheikh Saqer Bin Humaid Al Qasimi, Chairman of the Board, Julphar, said: "Serving millions of patients across therapeutic areas, we are confident that our growth mindset and focus on innovation, collaboration and geographical expansion will help us deliver continued positive impact to the healthcare sector and to the knowledge economy in the GCC and beyond. Our Growth Strategy 2030 guides our commitment to deliver excellence in the form of first-to-market products and value-adding medicines.”

Basel Ziyadeh, Chief Executive Officer, Julphar, added: “We have implemented transformational changes across our operating model, positioning the Group to execute our strategy more effectively and drive long-term value creation. These results highlight our continued progress in maintaining a strong balance between business investments, a solid capital structure, and delivering attractive shareholder returns. Our strong market position is reinforced by the dedication of our team across our operating regions.