2024 Unaudited Consolidated
Financial Statements of the Krka Group and
Unaudited Financial Statements of
Krka, d. d., Novo mesto
with Relevant Notes
Novo mesto, March 2025
2024 Unaudited Consolidated Financial Statements of the Krka Group and Unaudited Financial Statements of Krka, d. d., Novo mesto
CONTENTS | |
At a glance | 3 |
Financial highlights | 4 |
Performance analysis | 5 |
Marketing and sales | 8 |
Research and development | 10 |
Investments | 12 |
Employees | 13 |
Investor and share information | 13 |
Sustainable operations | 13 |
Events after the Reporting Period | 14 |
Unaudited consolidated statement of financial position of the Krka Group | 15 |
Unaudited consolidated income statement of the Krka Group | 16 |
Unaudited consolidated statement of other comprehensive income of the Krka Group | 16 |
Unaudited consolidated statement of changes in equity of the Krka Group | 17 |
Unaudited consolidated statement of cash flows of the Krka Group | 19 |
Unaudited statement of financial position of Krka, d. d. , Novo mesto | 20 |
Unaudited income statement of Krka, d. d., Novo mesto | 21 |
Unaudited statement of other comprehensive income of Krka, d. d., Novo mesto | 21 |
Unaudited statement of changes in equity of Krka, d. d., Novo mesto | 22 |
Unaudited statement of cash flows of Krka, d. d., Novo mesto | 24 |
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2024 Unaudited Consolidated Financial Statements of the Krka Group and Unaudited Financial Statements of Krka, d. d., Novo mesto
Based on the provisions of the Ljubljana Stock Exchange Rules and Article 17 of Regulation (EU) No 596/2014,
Krka, d. d., Novo mesto hereby presents
2024 UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS OF THE KRKA GROUP AND UNAUDITED FINANCIAL STATEMENTS OF KRKA, D. D., NOVO MESTO WITH RELEVANT NOTES
The 2024 unaudited consolidated financial statements of the Krka Group and unaudited financial statements of Krka, d. d., Novo mesto with comparative data for 2023 have been prepared in accordance with the International Financial Reporting Standards (IFRS). The 2023 comparative statements have been audited.
Krka, d. d., Novo mesto has no authorised capital and made no conditional share capital increase.
At a glance
Krka, d. d., Novo mesto (hereinafter the Company, Krka, or the controlling company) is the controlling company of the Krka Group, which comprised the following subsidiaries as at 31 December 2024:
Ownership share of the | |
controlling company | |
31 Dec 2024 (%) | |
TERME KRKA, d. o. o., Novo mesto | 100 |
KRKA-FARMA d.o.o., Zagreb, Croatia | 100 |
KRKA ROMANIA S.R.L., Bucharest, Romania | 100 |
KRKA-FARMA DOO BEOGRAD, Belgrade, Serbia | 100 |
KRKA-FARMA DOOEL Skopje, Skopje, North Macedonia | 100 |
KRKA Bulgaria EOOD, Sofia, Bulgaria | 100 |
KRKA HELLAS E.P.E., Athens, Greece | 100 |
KRKA FARMA d.o.o., Sarajevo, Sarajevo, Bosnia and Herzegovina | 100 |
KRKA-RUS LLC, Istra, Russian Federation | 100 |
KRKA FARMA LLC, Istra, Russian Federation | 100 |
KRKA UKRAINE LLC, Kiev, Ukraine | 100 |
LLC 'KRKA Kazakhstan', Almaty, Kazakhstan | 100 |
KRKA - POLSKA Sp. z o.o., Warsaw, Poland | 100 |
KRKA ČR, s. r. o., Prague, Czechia | 100 |
KRKA Magyarország Kft., Budapest, Hungary | 100 |
KRKA Slovensko, s.r.o., Bratislava, Slovakia | 100 |
UAB KRKA Lietuva, Vilnius, Lithuania | 100 |
SIA KRKA Latvija, Riga, Latvia | 100 |
TAD Pharma GmbH, Cuxhaven, Germany | 100 |
KRKA Sverige AB, Stockholm, Sweden | 100 |
KRKA Pharma GmbH, Vienna, Austria | 100 |
KRKA Farmacêutica, Unipessoal Lda., Estoril, Portugal | 100 |
Krka FARMACÉUTICA, S.L., Madrid, Spain | 100 |
KRKA Farmaceutici Milano S.r.l., Milan, Italy | 100 |
Krka France Eurl, Paris, France | 100 |
KRKA PHARMA DUBLIN LIMITED, Dublin, Ireland | 100 |
KRKA Belgium, SA, Brussels, Belgium | 100 |
KRKA Finland Oy, Espoo, Finland | 100 |
KRKA UK LTD, London, United Kingdom | 100 |
123 Acurae Pharma GmbH, Cuxhaven, Germany | 100 |
KRKA Netherlands B.V., Breskens, Netherlands | 100 |
Ningbo Krka Menovo Pharmaceutical Company Limited, Ningbo, China | 60 |
KRKA USA LLC, Wilmington, United States of America | 100 |
KRKA GCC L.L.C., Dubai, United Arab Emirates | 100 |
As at 31 December 2024, the subsidiary Terme Krka, d. o. o. held a 100-percent interest in Golf Grad Otočec, d. o. o., Slovenia, while the subsidiary KRKA France Eurl held a 100-percent interest in HCS bvba in Belgium. The Chinese company Ningbo Menovo Pharmaceutical Co. Ltd. owns 40% of Ningbo Krka Menovo Pharmaceutical Co. Ltd.
3
2024 Unaudited Consolidated Financial Statements of the Krka Group and Unaudited Financial Statements of Krka, d. d., Novo mesto
Together with Indian company Laurus Labs Ltd., Krka established a joint venture, Krka Pharma Private Limited, headquartered in Hyderabad, India, in April 2024. Krka holds a 51% and Laurus a 49% stake in the joint venture, respectively. The joint venture will enable Krka to produce finished products for the existing and new markets. Investing in a production facility in India is planned to start in the first half of 2025.
Financial highlights
Krka Group | Krka | |||||||
€ thousand | 2024 | 2023 | Index | 2024 | 2023 | Index | ||
Revenue | 1,909,544 | 1,806,391 | 106 | 1,766,021 | 1,674,572 | 105 | ||
- Of that revenue from contracts with | 1,899,848 | 1,798,969 | 106 | 1,538,576 | 1,449,739 | 106 | ||
customers (products and services) | ||||||||
Gross profit | 1,093,883 | 1,026,709 | 107 | 983,768 | 888,427 | 111 | ||
Earnings before interest, tax, depreciation and | 520,085 | 504,215 | 103 | 457,150 | 402,547 | 114 | ||
amortisation (EBITDA) | ||||||||
Operating profit (EBIT)1 | 427,572 | 399,621 | 107 | 385,997 | 322,308 | 120 | ||
Profit before tax (EBT) | 419,078 | 367,126 | 114 | 380,968 | 329,049 | 116 | ||
Net profit | 356,202 | 313,732 | 114 | 321,192 | 294,481 | 109 | ||
Effective tax rate | 15.0% | 14.5% | 15.7% | 10.5% | ||||
R&D expenses | 184,855 | 178,582 | 104 | 179,822 | 173,783 | 103 | ||
Investments | 117,049 | 131,932 | 89 | 87,800 | 111,751 | 79 | ||
31 Dec 2024 | 31 Dec 2023 | Index | 31 Dec 2024 | 31 Dec 2023 | Index | |||
Non-current assets | 1,022,901 | 1,059,267 | 97 | 1,044,180 | 1,076,235 | 97 | ||
Current assets | 1,826,120 | 1,705,024 | 107 | 1,577,456 | 1,537,636 | 103 | ||
- Inventories | 638,608 | 604,621 | 106 | 548,188 | 513,892 | 107 | ||
- Trade receivables | 552,710 | 509,070 | 109 | 518,425 | 463,126 | 112 | ||
- Cash and cash equivalents | 344,895 | 174,011 | 198 | 238,183 | 140,993 | 169 | ||
Equity | 2,237,784 | 2,181,766 | 103 | 2,186,351 | 2,133,258 | 102 | ||
Non-current liabilities | 162,662 | 149,218 | 109 | 130,433 | 118,930 | 110 | ||
Current liabilities | 448,575 | 433,307 | 104 | 304,852 | 361,683 | 84 | ||
- Trade payables | 148,285 | 153,762 | 96 | 171,183 | 175,847 | 97 | ||
RATIOS | 2024 | 2023 | 2024 | 2023 | ||||
Gross profit margin | 57.3% | 56.8% | 55.7% | 53.1% | ||||
EBITDA margin | 27.2% | 27.9% | 25.9% | 24.0% | ||||
EBIT margin | 22.4% | 22.1% | 21.9% | 19.2% | ||||
EBT margin | 21.9% | 20.3% | 21.6% | 19.6% | ||||
Net profit margin (ROS) | 18.7% | 17.4% | 18.2% | 17.6% | ||||
Return on equity (ROE)2 | 16.1% | 14.5% | 14.9% | 14.0% | ||||
Return on assets (ROA)3 | 12.7% | 11.5% | 12.3% | 11.5% | ||||
Liabilities/Equity | 0.273 | 0.267 | 0.199 | 0.225 | ||||
R&D expenses/Revenue | 9.7% | 9.9% | 10.2% | 10.4% | ||||
NUMBER OF EMPLOYEES | 2024 | 2023 | 2024 | 2023 | ||||
Year-end | 12,810 | 11,780 | 7,523 | 6,509 | ||||
Average | 11,984 | 11,667 | 6,724 | 6,411 | ||||
SHARE INFORMATION | 2024 | 2023 | Index | |||||
Total number of shares issued | 32,793,448 | 32,793,448 | 100 | |||||
Earnings per share (EPS) in €4 | 11.60 | 10.14 | 114 | |||||
Gross dividend per share in € | 7.50 | 6.60 | 114 | |||||
Closing price at the end of the year in €5 | 139.00 | 110.00 | 126 | |||||
Price/Earnings ratio (P/E) | 11.99 | 10.85 | 111 | |||||
Book value in €6 | 68.24 | 66.53 | 103 | |||||
Price/Book value (P/B) | 2.04 | 1.65 | 123 | |||||
Market capitalisation in € thousand (31 Dec) | 4,558,289 | 3,607,279 | 126 |
- The difference between operating income and expenses
- Net profit/Average shareholders' equity in the year
- Net profit/Average total asset balance in the year
- Net profit for the year attributable to majority equity holders of the Krka Group/Average number of shares issued in the year, excluding treasury shares
- Share price on the Ljubljana Stock Exchange
- Equity as at 31 Dec/Total number of treasury shares
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2024 Unaudited Consolidated Financial Statements of the Krka Group and Unaudited Financial Statements of Krka, d. d., Novo mesto
Performance analysis
Operating income
Revenue | ||||||||
2,000 | 1,806 | 1,910 | 20 | |||||
1,800 | 1,717 | 18 | ||||||
1,600 | 1,535 | 1,566 | 17.5 | 17.8 | 16 | |||
16.6 | ||||||||
1,400 | 15.5 | 15.9 | 14 | |||||
€ million | 1,200 | 12 | Billion pieces | |||||
1,000 | 10 | |||||||
800 | 8 | |||||||
600 | 6 | |||||||
400 | 4 | |||||||
200 | 2 | |||||||
0 | 0 | |||||||
2020 | 2021 | 2022 | 2023 | 2024 | ||||
Revenue | Sales volume |
In 2024, the Krka Group generated revenue of €1,909.5 million, a €103.2 million or 6% increase on 2023, of which revenue from contracts with customers on sales of products and services reached €1,899.8 million and revenue from contracts with customers on sales of materials and other sales revenue constituted the difference. Five year compound average growth rate of sales volume was 4.3% and of sales value was 5%.
Operating expenses
The Krka Group posted operating expenses of €1,489.1 million, up €76.2 million or 5% on 2023.
Krka Group operating expenses comprised: costs of goods sold of €815.7 million; selling and distribution expenses of €373.4 million; R&D expenses of €184.9 million; and general and administrative expenses of €115.2 million. Operating expenses accounted for 78% of revenue and, over the past five years, ranged from 75% (in 2020) to 78% (between 2021 and 2024).
Costs of goods sold, up 5% on 2023, represented the largest Krka Group operating expense item, accounting for 42.7% of total revenue in 2024, and 43.2% in 2023. Selling and distribution expenses increased by 7% compared to 2023, and accounted for 19.6% of total revenue, up 0.3 percentage points on 2023. R&D expenses increased by 4% and accounted for 9.7% of total revenue (down 0.2 percentage points on 2023). General and administrative expenses amounted to 6.0% of total revenue, up 8%, while their proportion in revenue increased by 0.1 percentage point.
Finance income and expenses
The Krka Group operates in diverse international environments and is exposed to foreign exchange risks in certain sales and purchase markets. Krka Group currency risk exposure generated a loss of €22.9 million in 2024.
Krka Group finance income comprised: interest income of €14.1 million; derivatives income of €10.1 million; income from other financial instruments of €9.0 million; and dividend income of €0.8 million. Finance expenses comprised: net foreign exchange differences of €31.3 million; derivative expense of €1.7 million; interest expense of €0.5 million; and other finance expenses of €9.0 million. The Krka Group recorded net financial loss of €8.5 million in 2024.
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2024 Unaudited Consolidated Financial Statements of the Krka Group and Unaudited Financial Statements of Krka, d. d., Novo mesto
Operating results
EBITDA, EBIT, and net profit
€ million
550
500
450
400
350
300
250
200
150
100
50
0
502 | 489 | 504 | 520 | ||
464 | |||||
428 | |||||
391 | 381 | 364 | 400 | ||
355 | 356 | ||||
289 | 308 | 314 | |||
2020 | 2021 | 2022 | 2023 | 2024 | ||||
EBITDA | EBIT | Net profit | ||||||
The Krka Group recorded operating profit (EBIT) totalling €427.6 million, up €28.0 million or 7% on 2023. The Krka Group posted earnings before interest, tax, depreciation and amortisation (EBITDA) totalling €520.1 million, up €15.9 million or 3%. Five year compound average growth rate of EBIT was 9.3% and of EBITDA was 6.2%.
In 2024, Krka Group profit before tax increased by €52.0 million or 14% to €419.1 million. The effective tax rate for the Krka Group was 15.0%. Net profit totalled €356.2 million, up €42.5 million or a 14% increase on 2023. Year on year, increases in profit before tax and net profit resulted primarily from relatively lower cost growth compared to sales growth and reduced financial loss as to the year before. Five year compound average growth rate of net profit was 7.8%.
Assets
€ thousand | 31 Dec 2024 | % | 31 Dec 2023 | % | Index |
Non-current assets | 1,022,901 | 35.9 | 1,059,267 | 38.3 | 97 |
Property, plant and equipment (PP&E) | 806,646 | 28.3 | 790,345 | 28.6 | 102 |
Intangible assets | 100,747 | 3.5 | 102,348 | 3.7 | 98 |
Investments and loans | 59,846 | 2.1 | 117,772 | 4.2 | 51 |
Other | 55,662 | 2.0 | 48,802 | 1.8 | 114 |
Current assets | 1,826,120 | 64.1 | 1,705,024 | 61.7 | 107 |
Inventories | 638,608 | 22.4 | 604,621 | 21.9 | 106 |
Trade receivables | 552,710 | 19.4 | 509,070 | 18.4 | 109 |
Other | 634,802 | 22.3 | 591,333 | 21.4 | 107 |
Total assets | 2,849,021 | 100.0 | 2,764,291 | 100.0 | 103 |
At the end of 2024, assets of the Krka Group were valued at €2,849.0 million, a €84.7 million or 3% increase on year-end 2023. The proportion of non-current to current assets in the overall asset structure differed from that recorded at year-end 2023, as the share of non-current assets dropped by 2.4 percentage points to 35.9%.
Krka Group non-current assets were valued at €1,022.9 million, a €36.4 million or 3% decrease on year-end 2023. Property, plant and equipment (PP&E) valued at €806.6 million was the most important item, accounting for 28.3% of total Krka Group assets. Intangible assets amounted to €100.7 million, accounting for 3.5% of total assets.
Current assets were valued at €1,826.1 million, a €121.1 million or 7% increase on year-end 2023. Inventories amounted to €638.6 million or 22.4% of total Krka Group assets. Trade receivables due from customers totalled
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2024 Unaudited Consolidated Financial Statements of the Krka Group and Unaudited Financial Statements of Krka, d. d., Novo mesto
€552.7 million, accounting for 19.4% of Krka Group total assets. Inventories increased by €34.0 million or 6% and trade receivables by €43.6 million or 9%. Krka Group current loans totalled €10.5 million or 0.4% of total Krka Group assets. Investments at fair value through profit or loss totalled €224.1 million and were made into treasury bills of the EU Member States with high credit ratings. Cash and cash equivalents totalled €344.9 million, up €170.9 million on year-end 2023, accounting for 12.1% of total Krka Group assets. The increase primarily entailed a €86.4 million deposit with maturity up to 90 days.
Equity and liabilities
€ thousand | 31 Dec 2024 | % | 31 Dec 2023 | % | Index |
Equity | 2,237,784 | 78.6 | 2,181,766 | 78.9 | 103 |
Non-current liabilities | 162,662 | 5.7 | 149,218 | 5.4 | 109 |
Current liabilities | 448,575 | 15.7 | 433,307 | 15.7 | 104 |
Total equity and liabilities | 2,849,021 | 100.0 | 2,764,291 | 100.0 | 103 |
As at 31 December 2024, the Krka Group posted equity of €56.0 million, up 3% on year-end 2023. The increase in equity resulted from an increase in Krka Group net profit of €356.2 million, while its decrease was the result of a decrease in other comprehensive income net of tax in total of €44.2 million, dividend payments in total of €230.9 million, and a repurchase of treasury shares in total of €25.0 million.
The Krka Group recorded provisions of €136.9 million, up €12.5 million on year-end 2023, owing to an increase in liabilities for post-employment and other benefits, which increased by €15.5 million and totalled €128.8 million. Provisions for lawsuits totalled €7.6 million, down €3.0 million. Other provisions totalled €0.5 million, and remained the same as a year ago.
Of Krka Group current liability items, trade payables decreased by €5.5 million (of which payables to domestic suppliers decreased by €7.2 million and payables to suppliers abroad increased by €1.7 million). Current liabilities from contracts with customers increased by €3.9 million (of which bonuses and volume rebates increased by €6.8 million and right of return by €0.1 million, while contract liabilities decreased by €3.0 million). Other current liabilities increased by €1.2 million, of which payables to employees increased by €3.5 million.
Cash flow statement
€ thousand | 2024 | 2023 |
Net cash flow from operating activities | 360,933 | 227,254 |
Net cash flow from investing activities | 75,094 | -343,235 |
Net cash flow from financing activities | -264,548 | -229,822 |
Net change in cash and cash equivalents | 171,479 | -345,803 |
Net change in cash and cash equivalents (exclusive of exchange rate fluctuations) of the Krka Group totalled €171.5 million in 2024, because the positive cash flows from operating and investing activities outstripped the negative cash flow from financing activities.
The Krka Group created €489.7 million operating profit before changes in net current assets. Changes in current assets that positively impacted cash flow included changes in deferred revenue and other current liabilities, while changes in trade receivables, inventories, trade payables, and provisions had a negative impact. Income tax paid additionally resulted in a decrease in net cash flows from operating activities.
Positive cash flows from investing activities of €75.1 million primarily accrued from proceeds from sale of non- current investments of €71.2 million; current investments of €477.2 million; and net proceeds from current loans of €55.5 million. Dividends paid and other profit shares of €230.9 million and treasury share repurchases of €25.0 million contributed the most to negative cash flows from financing activities in total of €264.5 million.
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2024 Unaudited Consolidated Financial Statements of the Krka Group and Unaudited Financial Statements of Krka, d. d., Novo mesto
Marketing and sales
Krka Group product and service sales by region
€ thousand | 2024 | % | 2023 | % | Index |
Region Slovenia | 121,004 | 6.4 | 113,777 | 6.3 | 106 |
Region South-East Europe | 269,025 | 14.2 | 249,330 | 13.9 | 108 |
Region East Europe | 650,339 | 34.2 | 593,951 | 33.0 | 109 |
Region Central Europe | 426,530 | 22.4 | 397,079 | 22.1 | 107 |
Region West Europe | 351,803 | 18.5 | 369,624 | 20.5 | 95 |
Region Overseas Markets | 81,147 | 4.3 | 75,208 | 4.2 | 108 |
Total | 1,899,848 | 100.0 | 1,798,969 | 100.0 | 106 |
In 2024, the Krka Group generated €1,899.8 million revenue from contracts with customers on sales of products and services, an increase of €100.9 million or 6% year on year. We recorded sales growth in most sales markets.
Region East Europe recorded the highest sales, €650.3 million or 34.2% of total Krka Group sales, up 9% year on year. In the Russian Federation, our product sales generated €373.3 million, up 8% on 2023, a 19% increase in sales denominated in the Russian rouble. We also increased sales in all other regional markets. In Ukraine, we made €96.0 million in product sales, up 15% on 2023. Uzbekistan generated €53.7 million in product sales, up 10% year on year.
Region Central Europe, comprising the Visegrad Group and the Baltic states, followed with €426.5 million, or 22.4% of total Krka Group sales, up 7% on 2023. Poland, the leading market in the region, generated product sales of €206.1 million and recorded 14% growth. Product sales in Czechia totalled €58.6 million, down 4%, while in Hungary, product sales increased by 2% to €53.3 million. We increased sales in all other countries of the region.
Region West Europe ranked third in terms of sales with €351.8 million or 18.5% of total Krka Group sales. Germany, where product sales totalled €83.4 million, was the largest market in the region. The Scandinavian countries, Portugal, Italy, and the United Kingdom followed. We recorded the highest absolute sales growth in the United Kingdom, the Netherlands, and the Scandinavian countries.
Product sales in Region South-East Europe amounted to €269.0 million, up 8% on 2023, accounting for 14.2% of total Krka Group sales. Romania and Croatia remained our two leading markets in the region, while Romania, Bulgaria, and Croatia recorded the highest absolute sales growth. Our product sales in Romania generated €77.6 million, up 7%, and in Croatia €49.0 million, up 7%. We increased sales in all regional markets.
Region Slovenia recorded sales of €121.0 million, up 6%, accounting for 6.4% of total Krka Group sales. The major part, totalling €71.7 million, was created by product sales, which increased by 8%. Health resort and tourist services yielded €49.4 million, up 3% on 2023.
Region Overseas Markets accounted for 4.3% in overall Krka Group sales and generated €81.1 million in product sales, up 8% on 2023.
Krka Group sales by product and service group
€ thousand | 2024 | % | 2023 | % | Index |
Human health products | 1,738,650 | 91.5 | 1,646,633 | 91.6 | 106 |
- Prescription pharmaceuticals | 1,567,359 | 82.5 | 1,469,381 | 81.7 | 107 |
- Non-prescription products | 171,291 | 9.0 | 177,252 | 9.9 | 97 |
Animal health products | 111,847 | 5.9 | 104,640 | 5.8 | 107 |
Health resort and tourist services | 49,351 | 2.6 | 47,696 | 2.6 | 103 |
Total | 1,899,848 | 100.0 | 1,798,969 | 100.0 | 106 |
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2024 Unaudited Consolidated Financial Statements of the Krka Group and Unaudited Financial Statements of Krka, d. d., Novo mesto
Sales of prescription pharmaceuticals generated €1,567.4 million, up 7% year on year, accounting for 82.5% of total Krka Group product and service sales. We increased sales in all our regions except in Region West Europe, where we recorded a 5% drop. Region East Europe increased sales by 12% and Region Slovenia by 9%, while Region Central Europe, Region South-East Europe, and Region Overseas Markets increased their respective sales by 8% each. Of our ten largest individual markets in size, prescription pharmaceuticals saw the highest absolute sales growth in Poland, the Russian Federation and Ukraine, and of our other markets in the United Kingdom and the Netherlands.
The top ten prescription pharmaceuticals in terms of sales were product groups containing:
- perindopril (Prenessa*, Co-Prenessa*, Amlessa*, Co-Amlessa*, Roxiper*, Roxampex*);
- valsartan (Valsacor*, Valsacombi*, Vamloset*, Co-Vamloset*, Valarox*);
- rosuvastatin (Roswera*, Co-Roswera*);
- pantoprazole (Nolpaza*);
- losartan (Lorista*, Lorista H*, Lorista HD*, Tenloris*);
- atorvastatin (Atoris*);
- esomeprazole (Emanera*);
- naproxen (Nalgesin*);
- tramadol (Doreta*, Tadol*); and
- candesartan (Karbis*, Karbicombi*, Kandoset*).
Sales of non-prescription products totalled €171.3 million, down 3% on 2023, accounting for 9.0% of total Krka Group sales. In 2024, we recorded the highest absolute sales increases in Poland, Slovenia, and Germany. Septolete*, Nalgesin*, Herbion*, and Septanazal* were our primary product brands in terms of sales.
Sales of animal health products grew by 7% and generated €111.8 million, accounting for 5.9% of overall sales. Sales generated in the Russian Federation, Spain, and Poland were the primary drivers of absolute growth. In 2024, the combination of milbemycin and praziquantel (Milprazon*) remained the best-selling animal health product. It was followed by products containing fipronil (Fypryst*, Fypryst* Combo) and selamectin (Selehold*).
Sales of health resort and tourist services totalled €49.4 million, up 3% on 2023 (2.6% of overall sales). We recorded 342,176 overnight stays, a 2% year-on-year increase.
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2024 Unaudited Consolidated Financial Statements of the Krka Group and Unaudited Financial Statements of Krka, d. d., Novo mesto
2024 sales of leading products
perindopril ± indapamide ± amlodipine ± rosuvastatin (PRENESSA*)
valsartan ± hydrochlorothiazide ± amlodipine ± rosuvastatin ± indapamide
(VALSACOR)
rosuvastatin ± ezetimibe (ROSWERA*)
pantoprazole (NOLPAZA*)
losartan ± hydrochlorothiazide ± amlodipine (LORISTA*)
atorvastatin ± amlodipine (ATORIS)
esomeprazole (EMANERA*)
naproxen (NALGESIN)
SEPTOLETE
tramadol ± paracetamol (DORETA*)
candesartan ± hydrochlorothiazide ± amlodipine (KARBIS*)
telmisartan ± hydrochlorothiazide ± amlodipine ± indapamide (TOLURA*)
enalapril ± hydrochlorothiazide ± lercanidipine (ENAP)
HERBION
sitagliptin ± metmorfin (MAYSIGLU*)
215
170
116
93
84
80
55
40
37
35
34
33
26
24
24
0 | 20 | 40 | 60 | 80 | 100 | 120 | 140 | 160 | 180 | 200 | 220 |
€ million |
*Sales of leading products are presented by the leading active ingredient. Combination medicines that incorporate this active ingredient are also included. Products marketed under different product brand names or the Krka trademark in individual markets are marked with an asterisk.
Research and development
In 2024, we expanded our product range with twenty-two new products, including eighteen new prescription pharmaceuticals, and three additions to our portfolio of consumer health products and food supplements, and one veterinary medicine.
We pursue our development strategy with project approach and constant investments and maintain the highest quality throughout a product's life cycle in compliance with requirements of all markets where we are present. In 2024, we finalised over 1,000 registration procedures for new and already established products and received approvals for more than 24,000 regulatory variations to ensure uninterrupted supply to various markets.
We filed nine patent applications for new technological solutions we evaluated as innovations at the global ranking level. As per priority applications from 2023, we filed seven international and two European patent applications. We were granted four patents in various countries. Overall, over 200 valid patents protect our technological solutions.
We filed 134 applications for Krka trademarks in Slovenia. We also filed 75 international and 34 national trademark applications. Overall, we held authorisations in various countries for 1,100 different marks.
New prescription pharmaceuticals
We obtained marketing authorisations for four new single-pill cardiovascular agents. Kanpiduo* (candesartan/indapamide) is a unique medication in Europe that combines candesartan, a contemporary angiotensin II receptor blocker, and indapamide, a diuretic. It is available in tablets. Taken once daily, this convenient medication provides stable blood pressure control in patients who have already been treated with candesartan and indapamide. We concluded marketing authorisation procedures for Valomindo*
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