Sothema: Revenue Up 17% in the First Half of 2025

In the second quarter of 2025, Sothema confirmed the growth momentum established at the beginning of the year, supported by a robust portfolio and sustained demand in the domestic market. In the private sector, therapeutic areas such as oncology, gastroenterology, cardiology, and psychiatry showed notable progress, complemented by strong performance in the pediatric nutrition range. Recent product launches, particularly in diabetes and hematology/oncology, contributed to this growth trend. The public market also experienced an increase, driven by rising demand in diabetes, oncology, and serum bags. Sales of goods in their original state saw a significant increase of 24%, reflecting both the strength of existing product lines and the success of new launches. Manufacturing and processing activities grew by 16%, bolstered by the ramp-up of locally produced oncology, diabetes, cardiology, and mental health products. Innovation continued to play a key role in the Group's performance, with seven new products launched in the second quarter, bringing the total to 11 for the first half, against an annual target of 21 new products. Among these launches was a major advancement: the introduction of the first glatiramer acetate treatment for multiple sclerosis in Morocco. Additionally, during the quarter, three new marketing authorization applications were submitted, and five marketing authorizations were granted, enhancing the development pipeline and confirming the Group's ongoing innovation capacity. Internationally, the business experienced a temporary slowdown due to inventory adjustments in certain markets. Overall, the consolidated revenue for the quarter reached 767 million MAD, a 14% increase compared to the same period in 2024. For the first half of the year, consolidated revenue totaled 1.549 billion MAD, marking a 17% increase. As of the end of June 2025, Sothema's investment envelope reached 28 million MAD, up 22% from the first half of 2024, primarily aimed at acquiring new industrial equipment. Net debt stood at 312 million MAD as of June 30, 2025, down from 507 million MAD on December 31, 2024, representing a 38% decrease and illustrating the effectiveness of working capital management measures.