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Egis shareholders approve HUF 120-per-share dividend

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.