Companies

Farmak (FARM)

Business Profile

Farmak was the largest pharmaceuticals producer in Ukraine in 2010, accounting for 15.3% of total output in value terms. It also became the largest market player in terms of sales, gaining a 4.6% share and outperforming global giants Menarini and Sanofi-Aventis. Exports, at $27.8m and delivered mostly to CIS countries, accounted for 18% of Farmak’s 2010 sales, also representing 14.1% of Ukraine’s total pharma exports, the largest share.

Financial Summary

Indicator200920102011E2012E2013F
Sales ($m)113155************
EBITDA ($m)3745************
Net Income ($m)1726************
Net Debt ($m)5447************

Valuation Summary

Indicator200920102011E2012E2013F
P/E11.37.3************
P/Sales1.691.23************
EV/EBITDA6.75.3************
P/Book2.711.99************
Prices are quoted in UAH.


*Data available to Dragon Capital's institutional clients only.