Sothema: Revenue Increases by 13% by the End of September

In the third quarter of 2025, Sothema continues its growth trajectory, building on the strong performance recorded since the beginning of the year. This growth is primarily driven by the launch of new innovative products. Sales of finished products have increased by 22%, reflecting both the strength of the portfolio and the alignment of launches with market needs. Notably, growth is supported by product lines in gastroenterology, cardiology, oncology, and pediatric nutrition, which has benefited from new formulations compliant with European standards. Revenue from manufactured products rose by 11%, demonstrating the Group's commitment to enhancing the share of "Made in Morocco" in its industrial model. Development activities continued in the third quarter with the market introduction of three new products, including a major biosimilar in oncology aimed at treating several prevalent cancers, such as breast, lung, and colorectal cancers. Products launched in 2025 have shown a strong start, while those introduced in 2024 are confirming their potential and solidifying their contribution to revenue. On the regulatory front, eight new marketing authorization applications were submitted during the quarter, primarily for molecules synergistic with the existing portfolio, particularly in diabetes. Additionally, seven new marketing authorizations were obtained during the quarter, enhancing the Group's offerings in oncology and rheumatology. By the end of the third quarter of 2025, consolidated revenue reached 757 million MAD, a 6% increase compared to the same period in 2024. Cumulatively, by the end of September 2025, consolidated revenue reached 2.306 billion MAD, up 13%. The third quarter was also marked by the approval from the competition council for the acquisition of Soludia, a significant operation that will allow the Group to strengthen its position in the concentrated solutions for hemodialysis, a critical public health segment. The closing is expected by the end of the year, with gradual operational integration planned for 2026. To support its growth, Sothema's investments increased by 21% as of September 30, 2025, compared to September 30, 2024, totaling 49 million MAD, primarily allocated to the acquisition of new industrial equipment. By the end of September 2025, consolidated net debt remains controlled at 549 million MAD, in line with financing needs related to operations and rigorous management of working capital.