ADVERTISEMENT

Egis shareholders approve HUF 120-per-share dividend

Telco

Shareholders of Hungarian drug maker Egis, majority-owned by France’s Servier, approved payment of a HUF 120-per-share dividend on after-tax profit from the business year ended September 30 at an annual general meeting on Wednesday.

Egis has paid a HUF 120-per-share dividend for years.

The dividend fund comes to HUF 934m. The remaining HUF 15.7bn of after-tax profit will be place into profit reserves.

CFO Csaba Poroszlai said 95% of the company’s consolidated revenue of HUF 128.9bn was generated directly by the parent company, while export accounted for 73% of the revenue. Egis introduced eight new products during the business year, Mr Poroszlai added.

Egis remains the fifth biggest supplier on the Hungarian pharmaceutical market, and increased its market share to 5.4% in the business year.

Mr Poroszlai added that Egis spent HUF 11.6bn on R+D, 7% more than in the previous business year and equivalent to 9% of the company’s revenue. Thanks to tight management, the group’s free financial assets grew 41% over 12 months to HUF 25.3bn.

ADVERTISEMENT

Regional income disparities remain pronounced Analysis

Regional income disparities remain pronounced

Parliament approves amendment to Competition Act Parliament

Parliament approves amendment to Competition Act

New CEO announced at Codic Hungary Appointments

New CEO announced at Codic Hungary

FAO–Food Bank convoy delivers food to those in need City

FAO–Food Bank convoy delivers food to those in need

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.