Sothema: 18% Increase in Profits in the First Half of 2025

In the first half of 2025, Sothema continued to enrich its product portfolio with the launch of 11 new references, seven of which are produced locally. These products enhance the Group's offerings in therapeutic areas such as allergology, ophthalmology, and gastroenterology. Notably, the first generic treatment for multiple sclerosis based on glatiramer acetate is now available in Morocco. This treatment addresses a significant public health issue, as there were no existing branded or generic versions of this molecule in the national market. The growth dynamics are reflected in both local production and sales. Manufacturing and processing activities showed a 16% increase, while sales of finished products rose by 24%, supported by the success of new launches and the performance of existing product lines. The Group's consolidated revenue reached 1,549 million MAD, marking a 17% increase compared to the same period in 2024. In the first half of 2025, Sothema recorded an EBITDA of 353 million MAD, up 21% from the previous year. This growth was accompanied by an improvement in the operating margin, which increased by one percentage point to 23%. This performance is attributed to a favorable product mix focused on higher value-added therapeutic areas, positive impacts from commercial efforts, and enhanced control over external costs. The Group's net profit amounted to 194 million MAD, an 18% increase compared to the first half of 2024. Looking ahead, the second half of the year will see continued industrial deployment and expansion of the therapeutic portfolio. A total of 15 launches are planned for the entire fiscal year, including a major biosimilar in oncology and a new treatment in cardiology, aligning with the Group's strategic priorities. Industrial efforts will focus on increasing capacity through recent equipment acquisitions. On the environmental front, following the signing of a green electricity purchase agreement, Sothema will continue its initiatives for energy transition. This initiative is part of a broader program aimed at reducing the Group's carbon footprint and improving energy efficiency at its sites. Additionally, the acquisition of Soludia Maghreb, announced in July and currently awaiting approval from the Competition Council, represents a strategic step for the Group. Specializing in concentrates for hemodialysis, Soludia will enhance Sothema's industrial capabilities in a segment of significant public health importance. The closing is expected by the end of the year, with gradual operational integration planned for 2026.