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


5383.
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Our diversified business model enabled a resilient core performance in 2022 as we continued to deliver on our purpose."

Said Darwazah Said Darwazah, Executive Chairman and CEO

Performance

Revenue

$2,517m

Operating profit

$282m

Core¹ operating profit

$569m

EBITDA²

$680m

Core EBITDA²

$694m

Profit to shareholders

$188m

Core profit to shareholders

$406m

Basic earnings per share

84c

Core basic earnings per share

181c

Dividend per share

56c

  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. EBTIDA is earnings before interest, tax, depreciation, amortisation, assets write-down, impairment charges/reversals and unwinding of acquisition related inventory step-up. Core EBITDA is adjusted for exceptional items

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 760 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 (3rd 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 specialty and complex products, which offer less competition and potential for further margin growth
  • Developing portfolio of biosimilars for the US and MENA markets
  • 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 $530 million operating cash flow in 2022 and low leverage of 1.5x net debt/core EBITDA
  • 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 5% and core EBITDA CAGR of 8% since 2017
  • TSR3of 196% 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. 

Core revenue ($m)


45% of Group revenue (2021: 41%)

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)


27% of Group revenue (2021: 26%)

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)


27% of Group revenue (2021: 32%)

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