Hikma Pharma FY22 Results Down, Lifts Dividend; Says Confident Of FY23 Growth; Stock Up

Shares of Hikma Pharmaceuticals PLC (HIK,HIK.L) were gaining around 4 percent in the early morning trading in London after the company on Thursday said it is confident of fiscal 2023, despite reporting weak results in FY22. Further, the company lifted its full-year dividend.

The company’s fiscal 2022 profit attributable to shareholders fell 55 percent to $188 million from last year’s $421 million. Basic earnings per share were 83.9 US cents, down 54 percent from 182.3 US cents a year ago.

Core profit attributable to shareholders was $406 million or 181.3 US cents per share, compared to $450 million or 194.8 US cents per share last year.

Revenue edged down 1 percent to $2.52 billion from prior year’s $2.55 billion. Revenues at constant currency rates remained flat with last year.

The company noted that a good performance from Injectables and Branded was offset mainly by the effect of severe competitive pressures in Generics.

Further, the company announced a full-year dividend of 56 cents per share, up 4 percent from 54 cents per share in 2021.

Said Darwazah, Executive Chairman and Chief Executive Officer of Hikma, said, “Looking ahead, we are confident that we will deliver good growth across all three of our businesses in 2023 as we continue to expand our product portfolio and enhance our manufacturing and commercial footprint.”

For fiscal 2023, Injectables revenue growth is projected in the range of 7 percent to 9 percent, with core operating margin in the range of 36 percent to 37 percent.

The company sees Branded revenue growth in the mid to high-single-digits in constant currency, and Generics revenue growth in the low double-digits, core operating margin in the range of 16 percent to 18 percent.

In London, Hikma Pharma shares were trading at 1,820 pence, up 3.79 percent.

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