We create high-quality medicines and make them accessible to people who need them. Global experts with a local presence, we think creatively and act practically. We develop innovative solutions that transform people’s lives, for a healthier world wherever we are.

Messages from the Board


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Hikma has three strong businesses, an extensive product portfolio and a broad footprint of high-quality, flexible manufacturing facilities, all of which contribute to the good market positions we hold."

Said Darwazah Executive Chairman
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2021 has been another year of growth for Hikma, as well as one of advancing our future ambition. I am excited about how far we have come in the past few years, and by the opportunities we have for the future, as we continue to put better health within reach in 2022 and beyond."

Sigurdur Olafsson Chief Executive Officer

Performance

Revenue ($m)

$2,553m

Operating profit ($m)

$582m

Core¹ operating profit ($m)

$632m

EBITDA² ($m)

$727m

Profit to shareholders ($m)

$421m

Basic earnings per share³ (cents)

182c

Core basic earnings per share³ (cents)

195c

Dividend per share (cents)

54c

  1. Core results are presented to show the underlying performance of the Group, excluding the exceptional items and other adjustments set out in Note 6 of the Group consolidated financial statements
  2. EBITDA is earnings before interest, tax, depreciation, amortisation, asset write-down and impairment charges
  3. In June 2020, Hikma purchased 12.8 million ordinary shares from Boehringer Ingelheim, which are being held in treasury

Four reasons to invest in Hikma

We have a strong business model with significant opportunities to further enhance our portfolio to drive growth and deliver value for shareholders.

  

1Solid platform for growth





  • Broad portfolio of over 670 high-quality products across three businesses
  • Agile supply chain, flexible manufacturing and leading technical capabilities
  • Leading supplier of both generic injectable and non-injectable products in the US, the largest pharmaceutical market globally
  • Leading market position in MENA (4th largest pharmaceutical company by sales) and a growing presence in Europe
  • Trusted partner known for our commitment to quality and reliability of supply

2Increasingly diverse portfolio and pipeline





  • Growing presence in underserved, niche areas with an increased focus on specialty and complex products, which offer less competition and potential for further margin growth
  • Developing portfolio of biosimilars for the US market
  • Focus on higher-value therapeutic areas such as respiratory, CNS and oncology
  • Continued investment in R&D, new partnerships, strategic acquisitions and geographic expansion into certain markets

3Excellent financial discipline with a strong balance sheet and robust cash generation


  • Good cash flow generation, with $638 million operating cash flow in 2021 and low leverage of 0.6x net debt/core EBITDA2
  • Disciplined approach to cash management and acquisitions
  • Strong balance sheet that provides financial flexibility to support future growth

4Proven track record of delivering value for shareholders and a clear vision for growth


  • Group revenue CAGR of 7% and core EBITDA CAGR of 10% since 2018
  • TSR3 of 313% over the last ten years
  • Progressively increasing dividend

Our business model


Our business model enables us to respond to the many opportunities and challenges we face.

Our strategy


By focusing on our strategy, we will deliver sustainable growth over the long-term.

Our operations

Injectables

Our Injectables business supplies hospitals across our markets with generic injectables, supported by our manufacturing facilities in the US, Europe and MENA. In the US, we have broadened our product offering to include compounded sterile injectables.

Core revenue ($m)


41% of Group revenue (2020: 42%)

Our Generics business supplies oral and other
non‑injectable generic and specialty branded products in the US retail market, leveraging our
state-of-art manufacturing facility in Columbus, Ohio.

Revenue ($m)


32% of Group revenue (2020: 32%)

Our Branded business supplies branded generics and in-licensed patented products from our local manufacturing facilities to retail and hospital customers across the MENA region.

Revenue ($m)


26% of Group revenue (2020: 26%)

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