January to September 2025 Unaudited Interim Report of the Krka Group and Krka
Novo mesto, November 2025
CONTENTSIntroduction 3
January-September 2025 performance highlights 3
Financial highlights 4
Krka ID card 5
Krka Group at a glance 5
2025 Krka Group performance estimate 6
2026 Krka Group business plan 6
Business report 7
Financial risks 7
Investor and share information 7
Krka Group performance analysis 9
Marketing and sales 12
Research and development 17
Investments 19
Employees 19
Condensed consolidated financial statements of the Krka Group, with notes 21
Consolidated statement of financial position of the Krka Group 21
Consolidated income statement of the Krka Group 22
Consolidated statement of other comprehensive income of the Krka Group 22
Consolidated statement of changes in equity of the Krka Group 23
Consolidated statement of cash flows of the Krka Group 25
Segment reporting of the Krka Group 26
Notes to consolidated financial statements of the Krka Group 27
Condensed financial statements of Krka, d. d., Novo mesto, with notes 33
Statement of financial position of Krka, d. d., Novo mesto 33
Income statement of Krka, d. d., Novo mesto 34
Statement of other comprehensive income of Krka, d. d., Novo mesto 34
Statement of changes in equity of Krka, d. d., Novo mesto 35
Statement of cash flows of Krka, d. d., Novo mesto 37
Statement of compliance 45
Condensed consolidated financial statements of the Krka Group (hereinafter also the Group) and condensed financial statements of Krka, d. d., Novo mesto (hereinafter also Krka, the Company, or the controlling company, we, our, us) for the periods January-September 2025 and January-September 2024 are unaudited, while financial statements for the full financial year 2024 are audited. Krka has no authorised capital and made no conditional share capital increase.
We promptly announce all significant data changes in the listing prospectus of Krka in the electronic information dissemination systems SEOnet of the Ljubljana Stock Exchange and ESPI of the Polish Financial Supervision Authority. Reports on business operations of the Krka Group and Krka are available for viewing at https://www.krka.biz.
The Supervisory Board deliberated on the unaudited business report of the Krka Group and Krka for the period January-September 2025 at their regular meeting of 12 November 2025.
January-September 2025 performance highlightsKrka Group product and service sales totalled €1,529.1 million, of which product sales accounted for over 97%.
Product and service sales of the Krka Group increased by 7% year on year.
We generated 94% of product and service sales outside Slovenia. Export accounted for 96% of product sales.
Region East Europe recorded the highest sales, accounting for 34.9% of total Krka Group sales, and was followed by Region Central Europe and Region West Europe.
The Krka Group recorded €367.2 million in operating profit (EBIT), up 10% year on year. The EBIT margin was 23.9%. EBITDA amounted to €436.7 million, up 9% year on year. The EBITDA margin was 28.5%.
The Krka Group recorded a positive net financial result of €28.3 million, of which net foreign exchange gains
amounted to €34.0 million.
Krka Group profit before tax totalled €395.5 million, up 17% year on year.
Krka Group net profit amounted to €323.7 million, a 15% year-on-year increase. Net profit margin was 21.1%.
As at 30 September 2025, the Krka share traded at €214.00 on the Ljubljana Stock Exchange, up 54% on the year-end 2024. From January until the end of September 2025, we repurchased treasury shares in total of
€39.9 million under the share buyback programme.
We added seventeen new products to our portfolio, thirteen prescription pharmaceuticals, two non-prescription products, and two animal health products.
The Krka Group allocated €66.7 million to investments, of which €48.0 million to the controlling company.
At the end of September 2025, the Krka Group had 13,107 regularly employed persons on payroll, up 2% on year-end 2024. Total headcount of the Krka Group, including agency workers, tallied 13,139 employees.
€ thousand | Krka Group | Krka | ||||
Jan-Sep 2025 | Jan-Sep 2024 | Index | Jan-Sep 2025 | Jan-Sep 2024 | Index | |
Revenue | 1,534,028 | 1,434,662 | 107 | 1,415,996 | 1,328,449 | 107 |
- Of which revenue from sales of products and services | 1,529,127 | 1,427,514 | 107 | 1,224,414 | 1,148,926 | 107 |
Gross profit | 884,852 | 819,323 | 108 | 815,727 | 745,156 | 109 |
Earnings before interest, tax, depreciation and amortisation (EBITDA) | 436,734 | 401,748 | 109 | 400,008 | 362,127 | 110 |
Operating profit (EBIT)1 | 367,154 | 332,609 | 110 | 348,339 | 308,950 | 113 |
Profit before tax (EBT) | 395,453 | 337,331 | 117 | 387,787 | 315,769 | 123 |
Net profit | 323,654 | 281,027 | 115 | 317,985 | 266,446 | 119 |
R&D expenses | 143,733 | 136,364 | 105 | 141,494 | 133,296 | 106 |
Investments | 66,742 | 91,703 | 73 | 48,025 | 70,032 | 69 |
€ thousand | 30 Sep 2025 | 31 Dec 2024 | Index | 30 Sep 2025 | 31 Dec 2024 | Index |
Non-current assets | 1,048,461 | 1,022,901 | 102 | 1,054,303 | 1,044,180 | 101 |
Current assets | 1,919,161 | 1,826,120 | 105 | 1,668,877 | 1,577,456 | 106 |
- Inventories | 657,720 | 638,608 | 103 | 562,848 | 548,188 | 103 |
- Trade receivables | 615,658 | 552,710 | 111 | 591,653 | 518,425 | 114 |
- Cash and cash equivalents | 370,551 | 344,895 | 107 | 262,525 | 238,183 | 110 |
Equity | 2,305,045 | 2,237,784 | 103 | 2,213,285 | 2,186,351 | 101 |
Non-current liabilities | 171,382 | 162,662 | 105 | 139,499 | 130,433 | 107 |
Current liabilities | 491,195 | 448,575 | 110 | 370,396 | 304,852 | 122 |
- Trade payables | 149,281 | 148,285 | 101 | 196,170 | 171,183 | 115 |
RATIOS | Jan-Sep 2025 | Jan-Sep 2024 | Jan-Sep 2025 | Jan-Sep 2024 |
Gross profit margin | 57.7% | 57.1% | 57.6% | 56.1% |
EBITDA margin | 28.5% | 28.0% | 28.2% | 27.3% |
EBIT margin | 23.9% | 23.2% | 24.6% | 23.3% |
EBT margin | 25.8% | 23.5% | 27.4% | 23.8% |
Net profit margin (ROS) | 21.1% | 19.6% | 22.5% | 20.1% |
Return on equity (ROE)2 | 19.0% | 17.1% | 19.3% | 16.6% |
Return on assets (ROA)3 | 14.8% | 13.4% | 15.9% | 13.7% |
Liabilities/Equity | 0.287 | 0.278 | 0.230 | 0.205 |
R&D expenses/Revenue | 9.4% | 9.5% | 10.0% | 10.0% |
HEADCOUNT | 30 Sep 2025 | 31 Dec 2024 | Index | 30 Sep 2025 | 31 Dec 2024 | Index |
Balance at | 13,107 | 12,810 | 102 | 7,670 | 7,523 | 102 |
SHARE INFORMATION | Jan-Sep 2025 | Jan-Sep 2024 | Index |
Total number of shares issued | 32,793,448 | 32,793,448 | 100 |
Earnings per share (EPS) in €4 | 14.09 | 12.17 | 116 |
Closing price at end of period in €5 | 214.00 | 136.00 | 157 |
Price/Earnings ratio (P/E) | 15.19 | 11.18 | 136 |
Book value in €6 | 70.29 | 67.21 | 105 |
Price/Book value (P/B) | 3.04 | 2.02 | 150 |
Market capitalisation in € thousand (end of period) | 7,017,798 | 4,459,909 | 157 |
1 The difference between operating income and expenses
2 Net profit, annualised/Average shareholders' equity in the period
3 Net profit, annualised/Average total asset balance in the period
4 Net profit attributable to majority equity holders of the Krka Group, annualised/Average number of shares issued in the period, excluding treasury shares
5 Share price on the Ljubljana Stock Exchange
6 Equity at the end of the period/Total number of shares issued
Registered office Šmarješka cesta 6, 8501 Novo mesto, Slovenia
Telephone +386 7 331 21 11 Email info@krka.biz Website https://www.krka.biz
Core business Manufacture of pharmaceutical preparations
Business classification code 21.200
Year established 1954
Registration entry 1/00097/00, District Court of Novo mesto, Slovenia
Tax number 82646716
VAT registration number SI82646716 Company ID number 5043611000 Share capital €54,732,264.71
Total number of shares issued 32,793,448 ordinary registered no-par value shares, KRKG stock symbol. Krka shares have been listed on the Ljubljana Stock Exchange since 1997 under the KRKG stock symbol, and dual-listed on the Warsaw Stock Exchange since April 2012 under the KRK stock symbol.
Krka Group at a glanceThe Krka Group develops, produces, markets, and sells human health products (prescription pharmaceuticals and non-prescription products), animal health products, and health resort and tourist services.
The Krka Group consists of the controlling company, Krka, d. d., Novo mesto, Slovenia; a subsidiary in Slovenia, Terme Krka, d. o. o., Novo mesto; and 33 subsidiaries outside Slovenia. The controlling company is the sole owner of all subsidiaries, except for Ningbo Krka Menovo Pharmaceutical Co Ltd in China, in which Krka holds a 60% stake, while its Chinese partner, Ningbo Menovo Pharmaceutical Co Ltd, holds the remaining 40%.
In April 2024, Krka and the Indian partner Laurus Labs Ltd (hereinafter Laurus) established a joint venture, Krka Pharma Pvt Ltd, headquartered in Hyderabad, India. Krka holds a 51% stake, and Laurus Labs Ltd holds a 49% stake in the company. We contributed €11.7 million in initial capital of the joint venture.
Production takes place at the controlling company in Slovenia and at subsidiaries in the Russian Federation, Poland, Croatia, and Germany. These subsidiaries, apart from Krka-Rus in the Russian Federation, deal with marketing and sales in addition to production. In China, production takes place in long-term leased facilities. Other subsidiaries outside Slovenia market and/or sell Krka products, but do not have production capacities. The subsidiary Terme Krka is engaged in health resort and tourist services and owns Golf Grad Otočec.
2025 Krka Group performance estimateFull-year sales of products and services are projected at €2,020 million, up 6% year on year. Estimated sales outstrip the 2025 sales target.
The market share outside Slovenia is estimated at 94%.
Region East Europe is expected to generate the highest sales. Other regions are projected to follow in this order: Region Central Europe, Region West Europe, Region South-East Europe, Region Slovenia, and Region Overseas Markets.
Prescription pharmaceuticals are projected to remain the most important product category, accounting for 83% of total sales.
Net profit is forecast at €383 million, up 8% year on year. The estimate surpasses the amount planned for 2025
by €18 million.
We plan to invest just short €95 million in our in-house development, production, and infrastructure facilities. By the end of 2025, we will have paid a further €5 million into our joint venture, Krka Pharma Private Limited, in India.
At the end of 2025, the Krka Group is expected to have 13,344 regular employees on payroll (up 4%), 41% of them outside Slovenia.
2026 Krka Group business planWe project product and service sales at €2,132 million, up €112 million or 6% on the 2025 sales estimate.
The market share outside Slovenia is estimated at 94%.
We expect prescription pharmaceuticals to remain our leading product category, accounting for more than 80% of overall sales.
Net profit is projected at €405 million, a €22 million or 6% increase on the 2025 estimate.
We plan to allocate over €140 million to investments, primarily for expanding and modernising production facilities and infrastructure, an increase of €45 million compared to the amount allocated in 2025. We earmarked
€20 million for our joint venture Krka Pharma Private Limited in India.
The total number of employees in Slovenia and abroad is projected to increase by 2%.
The 2026 business objectives derive from the 2026-2030 Krka Group Development Strategy and are based on estimates, assessments, projections, and other available data. The Management Board believes projections are reasonable. In the event of major changes in the business environment, e.g. price erosion, rising prices of raw materials, exchange rate fluctuations for certain key currencies, or a decrease in demand for pharmaceutical products, actual operating results may deviate from the plan.
Financial risksForeign exchange risk
Our key currency risk management policy remains to mitigate currency risk exposure by natural hedging. We also use financial instruments to a limited extent.
The Russian rouble continues to represent the largest Krka Group currency risk. We employ natural hedging strategies because of the limited options available for mitigating this risk with financial instruments.
The value of the Russian rouble expressed in euros increased by 22% from the beginning of the year until the end of the third quarter of 2025, while the average value of the rouble expressed in euros rose by 3.5% year on year. In the first nine months of 2025, the Krka Group recorded foreign exchange gains from its long position in the Russian rouble, which are recognised in the net financial result.
We continued to hedge the risk exposure to the US dollar with financial instruments in the first nine months of 2025. Unlike with other currencies, exposure to the US dollar arises from a surplus of liabilities over assets from regular business operations, or in other words, the currency position is short. Exposure to the US dollar arises primarily from purchasing raw and other materials.
The value of the US dollar expressed in euros decreased by 11.5% over the three quarters, while the average value of the dollar dropped by 2.8% year on year.
Other currencies material to our operations had a minor impact on Krka Group result in the first nine months of 2025.
Taking into account net foreign exchange gains and losses, income and expenses from financial instruments, interest income and expense, as well as other financial income and expenses, the total net financial result for the first nine months of 2025 was positive, amounting to €28.3 million.
Credit risk
Krka Group key credit risk stems from trade receivables. The centralised credit control process at the Krka Group level includes all customers with credit limits exceeding €20,000. Counting over 580 at the end of Q3 2025, they accounted for more than 95% of total trade receivables. Credit control for small customers is decentralised within the sales network and remains under constant supervision of the controlling company.
Our credit risk management policy remained unchanged in the first nine months of 2025. At the end of this period, more than 90% of Krka Group trade receivables were insured with a credit insurance company.
By the end of Q3 2025, total trade receivables in euros increased by 11% compared to the beginning of the year. The maturity structure remained stable and the proportion of overdue receivables relative to total trade receivables remained within acceptable limits.
Investor and share informationThe Krka share price on the Ljubljana Stock Exchange rose by 54% over the first nine months of 2025, standing at
€214.00 on 30 September 2025. In this period, holdings of Slovenian retail investors, legal entities and institutional investors, and treasury shares increased. At the end of September 2025, Krka had 47,811 shareholders.
Shareholder structure (%)
30 Sep 2025 | 31 Dec 2024 | |
Slovenian retail investors | 41.7 | 41.5 |
Slovenski državni holding (SDH, Slovenian Sovereign Holding) and the Republic of Slovenia | 16.2 | 16.2 |
Kapitalska družba, d. d. (KD, Pension Fund Management) and Prvi pokojninski sklad (PPS, First Pension Fund) | 10.8 | 10.8 |
Slovenian legal entities and institutional investors | 5.9 | 5.4 |
Foreign investors | 18.3 | 19.7 |
Treasury shares | 7.1 | 6.4 |
Total | 100.0 | 100.0 |
In the first nine months of 2025, Krka repurchased 221,656 treasury shares and held 2,328,993 treasury shares as at 30 September 2025, representing 7.102% of its share capital.
Ten largest shareholders as at 30 September 2025
Country | No. of shares | Equity (%) | Voting rights (%) | |
Kapitalska družba, d. d. | Slovenia | 3,493,030 | 10.65 | 11.47 |
Slovenski državni holding, d. d. | Slovenia | 2,949,876 | 9.00 | 9.68 |
Republic of Slovenia | Slovenia | 2,366,411 | 7.22 | 7.77 |
OTP banka d.d.* | Croatia | 1,479,941 | 4.51 | 4.86 |
Clearstream Europe AG* | Germany | 1,111,905 | 3.39 | 3.65 |
Erste Group Bank AG* | Austria | 1,007,801 | 3.07 | 3.31 |
Luka Koper, d. d. | Slovenia | 433,970 | 1.32 | 1.42 |
Privredna banka Zagreb d.d.* | Croatia | 373,847 | 1.14 | 1.23 |
Raiffeisen Bank International AG | Austria | 304,797 | 0.93 | 1.00 |
Hrvatska poštanska banka d.d.* | Croatia | 182,389 | 0.56 | 0.60 |
Total | 13,703,967 | 41.79 | 44.98 |
* The shares are held in custody accounts with the above-listed banks and are owned by their clients.
Equity stakes and voting rights of Management and Supervisory Board members as at 30 September 2025
No. of shares | Equity (%) | Voting rights (%) | |
Management Board members | |||
Jože Colarič | 22,500 | 0.069 | 0.074 |
Aleš Rotar | 13,915 | 0.042 | 0.046 |
Vinko Zupančič | 120 | 0.000 | 0.000 |
Milena Kastelic | 505 | 0.002 | 0.002 |
Total Management Board members | 37,040 | 0.113 | 0.122 |
Supervisory Board members | |||
Julijana Kristl | 230 | 0.001 | 0.001 |
Mojca Osolnik Videmšek | 617 | 0.002 | 0.002 |
Tomaž Sever | 500 | 0.002 | 0.002 |
Total Supervisory Board members | 1,347 | 0.004 | 0.004 |
Total Management and Supervisory Board members | 38,387 | 0.117 | 0.126 |
Krka share trading from January to September 2025
9,000
8,000
Trading volume (€ thousand)
7,000
6,000
5,000
4,000
3,000
2,000
1,000
0
225
215
205
Closing price (€)
195
185
175
165
155
145
135
31 dec
2024
31 jan
2025
28 feb
2025
31 mar
2025
30 apr
2025
31 maj
2025
30 jun
2025
31 jul
2025
31 avg
2025
30 sep
2025
As at 30 September 2025, market capitalisation of Krka on the Ljubljana Stock Exchange stood at €7.0 billion. The average daily trading volume of Krka shares during the period amounted to €1.418 million. Krka shares have also been listed on the Warsaw Stock Exchange since April 2012.
Krka Group performance analysisRevenue
€ thousand | Jan-Sep 2025 | Jan-Sep 2024 | Index |
Revenue from contracts with customers on sales of products and services | 1,529,127 | 1,427,514 | 107 |
Revenue from contracts with customers on sales of material, and other revenue | 4,901 | 7,148 | 69 |
Total revenue | 1,534,028 | 1,434,662 | 107 |
Other operating income | 5,386 | 5,090 | 106 |
Financial income | 47,020 | 20,538 | 229 |
Total income | 1,586,434 | 1,460,290 | 109 |
Sales by period
1,341
1,435
1,600
1,400
1,200
1,000
€ million
800
600
400
200
1,534
Jan-Sep 2023 Jan-Sep 2024 Jan-Sep 2025
Expenses
€ thousand
Cost of goods sold
Selling and distribution expenses R&D expenses
General and administrative expenses
Total operating expenses
Financial expenses
Total expenses
Jan-Sep 2025
649,176
288,986
143,733
90,365
1,172,260
18,721
1,190,981
% of
revenue Jan-Sep 2024
42.3 615,339
18.8 268,961
9.4 136,364
5.9 86,479
76.4 1,107,143
1.2 15,816
77.6 1,122,959
% of revenue
42.9
18.8
9.5
6.0
77.2
1.1
78.3
Index
105
107
105
104
106
118
106
€ thousand
Earnings before interest, tax, depreciation and amortisation (EBITDA)
Operating profit (EBIT) Profit before tax (EBT) Net profit
Operating results
Jan-Sep 2025 | Jan-Sep 2024 | Index |
436,734 | 401,748 | 109 |
367,154 | 332,609 | 110 |
395,453 | 337,331 | 117 |
323,654 | 281,027 | 115 |
Net profit by period
324
281
236
350
300
250
€ million
200
150
100
50
Jan-Sep 2023 Jan-Sep 2024 Jan-Sep 2025
Assets
€ thousand | 30 Sep 2025 | % | 31 Dec 2024 | % | Index |
Non-current assets | 1,048,461 | 35.3 | 1,022,901 | 35.9 | 102 |
Attributable to: | |||||
- Property, plant and equipment | 824,859 | 27.8 | 806,646 | 28.3 | 102 |
- Intangible assets | 99,045 | 3.3 | 100,747 | 3.5 | 98 |
Current assets | 1,919,161 | 64.7 | 1,826,120 | 64.1 | 105 |
Attributable to: | |||||
- Inventories | 657,720 | 22.2 | 638,608 | 22.4 | 103 |
- Trade receivables and other receivables | 645,210 | 21.7 | 581,601 | 20.4 | 111 |
Total assets | 2,967,622 | 100.0 | 2,849,021 | 100.0 | 104 |
Equity and liabilities
€ thousand | 30 Sep 2025 | % | 31 Dec 2024 | % | Index |
Equity | 2,305,045 | 77.7 | 2,237,784 | 78.6 | 103 |
Non-current liabilities | 171,382 | 5.8 | 162,662 | 5.7 | 105 |
Attributable to provisions: | 140,807 | 4.7 | 136,895 | 4.8 | 103 |
- For post-employment benefits and other non-current employee benefits | 132,752 | 4.5 | 128,765 | 4.5 | 103 |
- For lawsuits | 7,559 | 0.3 | 7,598 | 0.3 | 99 |
- Other provisions | 496 | 0.0 | 532 | 0.0 | 93 |
Current liabilities | 491,195 | 16.5 | 448,575 | 15.7 | 110 |
- Trade payables | 149,281 | 5.0 | 148,285 | 5.2 | 101 |
- Contract liabilities | 183,603 | 6.2 | 166,078 | 5.8 | 111 |
- Other current liabilities | 158,311 | 5.3 | 134,212 | 4.7 | 118 |
Total equity and liabilities | 2,967,622 | 100.0 | 2,849,021 | 100.0 | 104 |
Performance ratios
28.7
23.9 23.2 23.9
21.1
23.7
19.6
19.0
17.6
19.4
17.1
14.8
13.4
14.8
11.8
13.3
16.9
30 29.7
25
20
%
15
10
5
0
28.0 28.5
EBITDA margin EBIT margin Net profit margin ROE ROA
All performance ratios improved year on year in the period from January to September 2025 and are aligned with the Krka Group key strategic objectives.
Marketing and salesKrka Group revenue for the nine months of 2025 totalled €1,534.0 million, of which revenue from contracts with
customers on sales of products and services totalled €1,529.1 million. Sales in markets outside Slovenia totalled
€1,430.3 million, accounting for 94% of overall Krka Group sales. Sales volume increased by 5% year on year.
Krka Group product and service sales by region
Sales increased in all sales regions and most markets, except in Region Overseas Markets. Product and service sales by region
€ thousand | Jan-Sep 2025 | Jan-Sep 2024 | Index |
Region Slovenia | 98,821 | 91,893 | 108 |
- % of total sales | 6.5 | 6.5 | |
Region South-East Europe | 218,220 | 201,627 | 108 |
- % of total sales | 14.3 | 14.1 | |
Region East Europe | 533,723 | 484,297 | 110 |
- % of total sales | 34.9 | 33.9 | |
Region Central Europe | 350,857 | 328,553 | 107 |
- % of total sales | 22.9 | 23.0 | |
Region West Europe | 272,389 | 264,538 | 103 |
- % of total sales | 17.8 | 18.5 | |
Region Overseas Markets | 55,117 | 56,606 | 97 |
- % of total sales | 3.6 | 4.0 | |
Total | 1,529,127 | 1,427,514 | 107 |
Region Slovenia
Product and service sales in Region Slovenia, our domestic market, totalled €98.8 million in the first nine months of 2025. Product sales were valued at €56.9 million, while services generated €41.9 million.
Holding a 7.3% market share, we maintained the leading position among providers of medicines in Slovenia in terms of sales value.
Products from our key therapeutic categories promoted in marketing campaigns contributed most substantially to sales, above all those for cardiovascular diseases; pain relief; the central nervous system; the gastrointestinal tract; and vitamins and minerals.
Perindopril-based products were our key cardiovascular agents. Single-pill combinations Amlessa (perindopril/amlodipine), Amlewel (perindopril/amlodipine/indapamide), and Prenewel (perindopril/indapamide) from this product family stood out in terms of sales and contributed the most to brand awareness in the market of antihypertensives. Of our statins, we strengthened the leading market position of Sorvasta (rosuvastatin) and bolstered the recognition of the single-pill combination Sorvitimb (rosuvastatin/ezetimibe). We increased brand awareness of our oral anticoagulant Daxanlo (dabigatran), and added Delianda (edoxaban) to our range of peroral anticoagulants. We also extended the range of our cardiovascular agents with a platelet aggregation inhibitor Atixarso (ticagrelor).
Of our antidiabetic agents, we raised recognition of two antihyperglycaemic agents from the dipeptidyl-peptidase 4 (DPP-4) inhibitor product group, a mono-component agent Maysiglu (sitagliptin) and a single-pill combination Maymetsi (sitagliptin/metformin). We primarily focused on NSAIDs Nalgesin Forte (naproxen) and Daleron (paracetamol) 1000 mg, and a non-opioid analgesic Algominal (metamizole), all from our pain relief range. We bolstered brand awareness of our antidepressant Dulsevia (duloxetine) and the antipsychotic Parnido (paliperidone), both from our central nervous system product group. We extended our product range for the treatment of multiple sclerosis by adding Efigalo (fingolimod) to Aregalu (teriflunomide). Nolpaza (pantoprazole) and Emozul (esomeprazole) recorded the highest sales growth of our medicines for the gastrointestinal tract. We increased brand awareness of Vitamin D3 Krka 7000 IU (cholecalciferol), which is taken once per week.
We raised awareness of our newly launched non-prescription products Imunogard Krka (beta-glucan/vitamins/minerals) for immune system bolstering and Herbisland (Iceland moss extract) lozenges for
relieving hoarseness and dry, irritating cough. The magnesium-based product Magnezij Krka (magnesium) from our range of vitamins and minerals, and Nalgesin S (naproxen) and Daleron (paracetamol) from our pain relief range were our leading non-prescription products.
Our leading animal health product was the wide-spectrum parasiticide Milprazon (milbemycin oxime/praziquantel), while Floron (florfenicol) and Rycarfa (carprofen) presented the highest sales growth.
Region South-East Europe
Product sales by market
€ thousand | Jan-Sep 2025 | Jan-Sep 2024 | Index |
Romania | 58,696 | 55,707 | 105 |
Croatia | 39,087 | 37,778 | 103 |
Serbia | 31,748 | 29,316 | 108 |
Bulgaria | 24,963 | 22,773 | 110 |
North Macedonia | 23,725 | 21,794 | 109 |
Bosnia and Herzegovina | 21,543 | 18,805 | 115 |
Kosovo | 8,231 | 7,016 | 117 |
Greece | 3,808 | 2,898 | 131 |
Albania | 3,245 | 2,972 | 109 |
Montenegro | 3,173 | 2,570 | 123 |
Total | 218,220 | 201,627 | 108 |
According to the latest data, we held a 7.3% market share in terms of volume, and were the most successful provider of generic prescription pharmaceuticals in the pharmacy segment in Romania. Atoris (atorvastatin), Nolpaza (pantoprazole), Co-Prenessa (perindopril/indapamide), and Co-Roswera (rosuvastatin/ezetimibe) generated the strongest sales. Nalgesin (naproxen) and Bilobil (ginkgo leaf extract) were our flagship non-prescription products. Antiparasitic products remained our best-selling animal health products, especially the Fypryst brand products and Selehold (selamectin).
In Croatia, we ranked second most successful generic pharmaceutical company by sales of prescription pharmaceuticals in the pharmacy segment. The leading prescription pharmaceuticals were Emanera (esomeprazole), Atoris (atorvastatin), and Co-Dalneva (perindopril/amlodipine/indapamide). Our new medicines Daxanlo (dabigatran), Valomindo (valsartan/indapamide), and Xerdoxo (rivaroxaban) also presented sales growth. Delianda (edoxaban) was our latest launch. Nalgesin (naproxen) and Septolete Duo (benzydamine/cetylpyridinium chloride) recorded the strongest sales of non-prescription products. The Fypryst brand products and Enroxil (enrofloxacin) generated the strongest sales of animal health products. The newly launched Otomicol (miconazole/prednisolone/polymyxin) also saw an increase in sales.
Region East Europe
Product sales by market
€ thousand | Jan-Sep 2025 | Jan-Sep 2024 | Index |
Russian Federation | 315,303 | 282,355 | 112 |
Ukraine | 72,189 | 69,285 | 104 |
Uzbekistan | 44,610 | 39,562 | 113 |
Belarus | 23,946 | 20,824 | 115 |
Kazakhstan | 15,114 | 17,416 | 87 |
Mongolia | 13,817 | 12,062 | 115 |
Moldova | 13,105 | 10,426 | 126 |
Azerbaijan | 7,821 | 7,582 | 103 |
Georgia | 7,796 | 7,608 | 102 |
Armenia | 7,071 | 6,157 | 115 |
Kyrgyzstan | 6,476 | 6,014 | 108 |
Tajikistan | 3,737 | 3,376 | 111 |
Turkmenistan | 2,739 | 1,629 | 168 |
Total | 533,723 | 484,297 | 110 |
In the Russian Federation, we recorded 12% growth in the first nine months of the year, placing us at the forefront of all international providers of generic pharmaceuticals in the country.
Prescription pharmaceuticals accounted for 82% of overall sales in the country. Co-Dalneva (perindopril/amlodipine/indapamide), Co-Perineva (perindopril/indapamide), Lorista (losartan), Valsacor (valsartan), Lorista H and Lorista HD (losartan/hydrochlorothiazide), Vamloset (valsartan/amlodipine), Nolpaza (pantoprazole), Duloxenta (duloxetine), Roxera (rosuvastatin), and Valsacor H and Valsacor HD (valsartan/hydrochlorothiazide) generated the highest sales. Duloxenta (duloxetine) and Roxera Plus (rosuvastatin/ezetimibe) presented the highest absolute growth. We were the leading producer of prescription pharmaceuticals in the pharmacy segment and the leading provider of cardiovascular agents on prescription.
Nalgesin (naproxen), the Herbion brand products, and Septolete Total (benzydamine/cetylpyridinium chloride) recorded the highest sales figures and growth of our non-prescription products. Selafort (selamectin), Milprazon (milbemycin oxime/praziquantel), and Cladaxxa (amoxicillin/clavulanic acid) generated the strongest sales of our animal health products, with Cladaxxa presenting the highest absolute growth.
In the first nine months of 2025, the Krka-Rus production plant supplied 74% of all Krka products sold in the Russian Federation.
Uncertainty surrounding Ukraine still impacts reliability and predictability of the pharmaceutical market. According to the latest available data, we maintained the second place among foreign providers of generic pharmaceuticals in the pharmacy segment, while our sales volume and value outperformed the average country market growth rate. Prescription pharmaceuticals remained the leading sales group, primarily owing to strong sales of Co-Prenessa (perindopril/indapamide), Co-Amlessa (perindopril/amlodipine/indapamide), Nolpaza (pantoprazole), and Roxera (rosuvastatin). Non-prescription products that generated the highest sales were Nalgesin (naproxen), the Herbion brand products, and Septolete Total (benzydamine/cetylpyridinium chloride), while best-selling animal health products were Milprazon (milbemycin oxime/praziquantel) and Selafort (selamectin).
According to the latest available data, we remained the leading medicine provider in Uzbekistan. We recorded growth that came close to the average country market growth rate in the period. Our paramount prescription pharmaceuticals were Amlessa (perindopril/amlodipine), Valodip (valsartan/amlodipine), and Lortenza (losartan/amlodipine), while Septolete Total (benzydamine/cetylpyridinium chloride), and Pikovit headed the non-prescription product list.
Region Central Europe
Product sales by market
€ thousand | Jan-Sep 2025 | Jan-Sep 2024 | Index |
Poland | 178,087 | 160,304 | 111 |
Czechia | 47,982 | 44,539 | 108 |
Hungary | 39,745 | 41,886 | 95 |
Slovakia | 32,188 | 32,085 | 100 |
Lithuania | 28,295 | 25,634 | 110 |
Latvia | 15,628 | 14,915 | 105 |
Estonia | 8,932 | 9,191 | 97 |
Total | 350,857 | 328,553 | 107 |
Poland, where we recorded 11% growth, remained our second largest individual market. As per latest data, we remained the fifth largest provider of generic medicines in the country. Sales were driven by prescription pharmaceuticals, most notably Atoris (atorvastatin), Roswera (rosuvastatin), Doreta (tramadol/paracetamol), Valsacor (valsartan), Co-Valsacor (valsartan/hydrochlorothiazide), and Coroswera (rosuvastatin/ezetimibe).
Of other prescription pharmaceuticals, Emanera (esomeprazole), Dulsevia (duloxetine), and Nolpaza (pantoprazole) also generated strong sales. The leading non-prescription products remained Septanazal (xylometazoline/dexpanthenol) and the Septolete brand products. Best-selling animal health products were Milprazon (milbemycin oxime/praziquantel), Enroxil (enrofloxacin), and the Dehinel brand products.
In Czechia, our second largest regional market, we recorded 8% year-on-year growth. As per latest data, we remained the fifth largest provider of generic medicines in the country. Sales were driven in particular by prescription pharmaceuticals, most notably Sorvasta (rosuvastatin), Atoris (atorvastatin), Pragiola (pregabalin), Nolpaza
(pantoprazole), Lexaurin (bromazepam), and Elicea (escitalopram). Nalgesin S (naproxen) and the Septolete brand products were our paramount non-prescription products, while the Fypryst and Dehinel brand products remained key animal health products.
In Hungary, our third largest regional market in terms of sales, we maintained the fifth place among providers of generic pharmaceuticals. Prescription pharmaceuticals generated the highest sales, in particular Dulsevia (duloxetine), Co-Prenessa (perindopril/indapamide), Emozul (esomeprazole), Roxera (rosuvastatin), Kventiax (quetiapine), Zyllt (clopidogrel), and Valsacor (valsartan). Our best-selling non-prescription products were Septanazal (xylometazoline/dexpanthenol), Bilobil (ginkgo leaf extract), and Septolete Extra (benzydamine/cetylpyridinium chloride). Milprazon (milbemycin oxime/praziquantel), the Fypryst brand products, and Enroxil (enrofloxacin) were the leading animal health products.
We maintained the fourth place among providers of generic medicines in Slovakia. Prescription pharmaceuticals generated the highest sales, in particular Co-Prenessa (perindopril/indapamide), Atoris (atorvastatin), Nolpaza (pantoprazole), Co-Amlessa (perindopril/amlodipine/indapamide), Amlessa (perindopril/amlodipine), and Prenessa (perindopril). Nalgesin S (naproxen), Flebaven (diosmin), and Nolpaza (pantoprazole) recorded the highest sales of non-prescription products, while Fypryst and Dehinel brand products and Enroxil (enrofloxacin) sold best of animal health products.
Region West Europe
Product sales by market
€ thousand | Jan-Sep 2025 | Jan-Sep 2024 | Index |
Germany | 64,899 | 62,435 | 104 |
Scandinavia | 38,502 | 37,375 | 103 |
Portugal | 28,663 | 25,519 | 112 |
Italy | 21,155 | 20,623 | 103 |
Spain | 17,050 | 20,303 | 84 |
Finland | 16,999 | 14,039 | 121 |
France | 16,976 | 15,579 | 109 |
United Kingdom | 16,676 | 21,139 | 79 |
Belgium | 13,327 | 9,342 | 143 |
Netherlands | 10,917 | 10,977 | 99 |
Ireland | 10,885 | 10,986 | 99 |
Austria | 9,442 | 8,045 | 117 |
Other European countries | 6,898 | 8,178 | 84 |
Total | 272,389 | 264,538 | 103 |
Germany, where we recorded 4% growth, remained our key regional market. Our cardiovascular and oncology agents, followed by central nervous system agents and animal health products for companion animals generated the strongest sales. Agents containing candesartan, valsartan, and ramipril stood out in terms of sales. We were the leading provider of single-pill combinations of ramipril and amlodipine and tramadol in combination with paracetamol. We successfully launched our ticagrelor-based product and maintained the leading position of our innovative single-pill combination of valsartan and indapamide.
Region Overseas Markets
Product sales by market
€ thousand | Jan-Sep 2025 | Jan-Sep 2024 | Index |
Far East and Africa | 26,776 | 27,195 | 98 |
Middle East | 17,950 | 19,013 | 94 |
China | 8,927 | 9,231 | 97 |
Americas | 1,464 | 1,167 | 125 |
Total | 55,117 | 56,606 | 97 |
In the first nine months of 2025, we generated 97% of year-on-year sales. The uncertainty in the Middle East had the greatest impact on our business, causing a sales drop. Our sales offices in the markets of the Far East and Africa and China recorded sales close to the last year's figures.
Product and service sales by group
Product and service sales by group
€ thousand | Jan-Sep 2025 | Jan-Sep 2024 | Index |
Prescription pharmaceuticals | 1,274,060 | 1,181,266 | 108 |
- % of total sales | 83.3 | 82.8 | |
Non-prescription products | 124,319 | 121,654 | 102 |
- % of total sales | 8.1 | 8.5 | |
Animal health products | 88,830 | 86,825 | 102 |
- % of total sales | 5.8 | 6.1 | |
Health resort and tourist services | 41,918 | 37,769 | 111 |
- % of total sales | 2.8 | 2.6 | |
Total | 1,529,127 | 1,427,514 | 107 |
Prescription pharmaceuticals
Sales of our prescription pharmaceuticals increased in Region East Europe (up 13%), Region South-East Europe (up 8%), Region Central Europe (up 7%), Region Slovenia (up 6%), and Region West Europe (up 4%), while they dropped in Region Overseas Markets (down 6%).
We increased the year-on-year sales in our four largest markets in this order: the Russian Federation (up 15%), Poland (up 11%), Ukraine (up 8%), and Germany (up 6%). As to other major markets, sales growth was the highest in Uzbekistan (up 13%), Serbia (up 9%), Scandinavia (up 7%), Czechia (up 6%), Slovenia (up 6%), Romania (up 4%), Croatia (up 3%), and Slovakia (up 1%).
The top ten prescription pharmaceuticals in terms of sales were product groups containing perindopril (Prenessa*, Co-Prenessa*, Amlessa*, Co-Amlessa*, Roxiper*, Roxampex*), valsartan (Valsacor, Co-Valsacor*, Wamlox*, Valtricom*, Valarox*, Valomindo*), rosuvastatin (Roswera*, Co-Roswera*), losartan (Lorista*, Lorista H*, Lorista HD*, Tenloris*), pantoprazole (Nolpaza*), atorvastatin (Atoris), esomeprazole (Emanera*), telmisartan (Tolura*, Tolucombi*, Telassmo*, Tolutris*, Telinstar*), duloxetine (Dulsevia*), and candesartan (Karbis*, Karbicombi*, Kandoset*, Kanpiduo*).
Sales growth was driven by products containing valsartan, rosuvastatin, perindopril, and duloxetine, and by pomalidomide, one of our new medicines, which we launched in the first countries at the end of 2024.
We extended our product portfolio with four new launches: a single-pill antihypertensive Candecor-Inda* (candesartan/indapamide) in Germany, Scandinavia, and Portugal; two anticoagulants indicated for the treatment and prevention of thromboembolic events, Aboxoma* (apixaban) in the United Kingdom, Bosnia and Herzegovina, and Montenegro; and Delianda* (edoxaban) in Slovenia, Romania, Bulgaria, Scandinavia, Latvia, Estonia, Croatia, Hungary, and Czechia; and an agent for the treatment of blood and blood forming organs eltrombopag in Germany, Scandinavia, Slovenia, Estonia, Hungary, and Slovakia.
Non-prescription products
Non-prescription product sales increased in Region South-East Europe (up 4%), Region Slovenia (up 2%), and Region Central Europe (up 1%). They more than doubled in Region Overseas Markets. Non-prescription sales in Region East Europe levelled off at the last year's figure, while they saw a 3% drop in Region West Europe.
Products sold under the Nalgesin*, Septolete*, Herbion*, Septanazal, and Bilobil* brands generated the highest sales.
We launched our new Herbisland* lozenges, a sore throat product containing Iceland moss extract, in Slovenia, Poland, Hungary, Lithuania, Latvia, Estonia, Romania, Kazakhstan, Moldova, Scandinavia, and Italy.
Animal health products
Animal health product sales increased in Region South-East Europe (up 20%), Region Slovenia (up 17%), and Region Central Europe (up 12%), while Region West Europe and Region East Europe recorded a 3% drop each.
The combination of milbemycin oxime and praziquantel (Milprazon*), fipronil (Fypryst*, Fypryst Combo*), selamectin (Selehold*), the combination of amoxicillin and clavulanic acid (Cladaxxa*), and the combination of pyrantel and praziquantel (Dehinel*, Dehinel Plus*) generated the strongest sales.
Products marketed under different product brand names or the Krka trademark in individual markets are marked with asterisk (*).
Health resort and tourist services
Terme Krka recorded 275,014 overnight stays in the first nine months of 2025, up 6% year on year. Talaso Strunjan unit contributed the largest share, nearly 91,000 overnight stays. Terme Šmarješke Toplice unit recorded 83,500 and Terme Dolenjske Toplice unit 82,400 overnight stays.
Research and developmentWe added new products to our portfolio in the first nine months of 2025: thirteen prescription pharmaceuticals, two non-prescription products, and two animal health products.
We finalised over 790 registration procedures for new and already established products and received approvals for more than 16,000 regulatory variations to ensure uninterrupted supply to various markets.
Prescription pharmaceuticals
We obtained marketing authorisations for our four new antidiabetic agents that allow for contemporary patient-tailored treatment. Dagraduo* (dapagliflozin/sitagliptin) is an innovative single-pill that combines two distinct mechanisms of action for improving glycaemic control in adults with type 2 diabetes mellitus when the treatment with both dapagliflozin and sitagliptin is appropriate. Our single-pill combination Mexdagry* (dapagliflozin/metformin), available in film-coated tablets, ensures effective glycaemic control and good patient compliance. Lynxaram* (linagliptin), available in film-coated tablets, is another antidiabetic agent for reliable glycaemic control that can be used as monotherapy or in combination with other agents. The medicine is taken once a day and no dose adjustment is required for patients with renal impairment.
We added new products to the portfolio of cardiovascular agents, our largest therapeutic class of products. Valkubit* (sacubitril/valsartan) is used to treat high-risk patients with chronic heart failure. Available in film-coated tablets, the combination of sacubitril and valsartan is associated with reduced risk of hospitalisation and increased survival of patients with chronic heart failure.
Bi-Prenessa* (bisoprolol/perindopril), available in film-coated tablets, combines a selective beta-blocker and an ACE inhibitor. This single-pill combination of two active ingredients has synergistic effect and allows for effective blood pressure control. It is indicated for the treatment of coronary artery disease or chronic heart failure. We obtained marketing authorisations for new strengths of Co-Amlessa* (perindopril/amlodipine/indapamide), available in tablets, and Co-Roswera* (rosuvastatin/ezetimibe), available in film-coated tablets, providing new options for patient-tailored therapies. We were also granted new marketing authorisations for our already established medicines indicated for the treatment of arterial hypertension, Telassmo* (telmisartan/amlodipine) tablets and Tolucombi (telmisartan/hydrochlorothiazide) tablets.
Pixoroso (rosuvastatin/perindopril) in film-coated tablets is our innovative solution for patients with concomitant arterial hypertension and hyperlipidaemia. It allows for achieving target values of lipids and blood pressure by taking just one tablet per day.
We were granted marketing authorisations under the decentralised procedure for Delanxara* (tramadol/dexketoprofen) film-coated tablets as the first generic manufacturer. This single-pill analgesic combines two active ingredients with distinct mechanisms of action. Their synergistic and complementary action effectively relieves moderate to severe pain at low doses, reducing the risk of adverse reactions.
We were granted marketing authorisations for vonoprazan film-coated tablets in China. This contemporary medicine for the gastrointestinal tract reduces the amount of acid in the stomach, delivering quick and sustained relief. We also
received approvals for marketing our dapagliflozin film-coated tablets indicated for the treatment of type 2 diabetes mellitus.
We were granted new marketing authorisations for our established products in additional markets. Varesta* (vortioxetine) film-coated tablets, available in the EU Member states, are indicated for the treatment of major depressive episodes in adults and are a medicine of choice for patients with severe forms of the disease. In eastern European countries, we were granted approvals for a new strength of an antihypertensive agent Valsacor INDA (valsartan/indapamide) 80 mg/1.5 mg modified release tablets and two antidiabetic agents, Dapafors (dapagliflozin) film-coated tablets and Asiglia Met (sitagliptin/metformin) film-coated tablets. We also obtained marketing authorisations for apixaban film-coated tablets, our contemporary antithrombotic agent. We were granted marketing authorisations in additional markets of south-eastern Europe for a contemporary antithrombotic agent Daxanlo (dabigatran) capsules and a single-pill combination Valomindo (valsartan/indapamide) modified release tablets. We also obtained marketing authorisations for Co-Atoris (ezetimibe/atorvastatin) film-coated tablets indicated for the treatment of hyperlipidaemia.
In overseas markets, we were granted new marketing approvals for our medicines from several therapeutic classes. Single-pill combinations that stood out from our cardiovascular agent product group were Wamlox (amlodipine/valsartan), Olmedipin (olmesartan/amlodipine), and Ifirmacombi (irbesartan/hydrochlorothiazide) - all three available in film-coated tablets - and Telassmo (telmisartan/amlodipine) tablets. We were granted marketing authorisations for two agents from our product group for the treatment of blood and blood forming organs, Atixarso (ticagrelor) and a new strength of Xerdoxo (rivaroxaban), both available in film-coated tablets. We also received approvals for marketing our Maysiglu (sitagliptin) film-coated tablets indicated for the treatment of diabetes.
Non-prescription products
In the first nine months of 2025, we were granted marketing authorisations for our two new non-prescription products.
We extended the range of the Septabene product brand, marketed as Septolete Total* in some countries, with two new products for relieving pain and inflammation in the mouth and throat. Our first product, the benzydamine/cetylpyridinium chloride combination Septabene Lemon-and-Ginger Flavoured Lozenges, marketed in some countries as Septolete Total, was developed using Krka new soft-centre lozenge technology. Our innovative formulation is an upgrade of the existing lozenges. Soft-centre lozenges dissolve in the mouth in a specific way, increasing their acceptability among users. We developed lozenges with natural-origin cola flavouring Septabene Cola-Flavoured Lozenges (benzydamine/cetylpyridinium chloride), also marketed as Septolete Total in some countries, with adolescents and young adults in mind. The two products have antiseptic, analgesic, and anti-inflammatory properties and can be taken by adults and children aged 6 years and older.
We were granted marketing authorisations in additional markets for the already established lozenges Herbion Iceland Moss that contain dry extract of Iceland moss. They relieve irritation of the mucosa in the throat and mouth and the associated dry cough, and can be taken by adults and adolescents aged 12 years and older.
Animal health products
We obtained marketing authorisations for European markets for two our new animal health products for companion animals.
Dehinexxa (praziquantel/emodepside), in certain countries also available as Dehispot, is a spot-on solution indicated for the treatment and prevention of mixed parasitic infestations in cats. In certain countries, it has been approved as a non-prescription product, making it more accessible to pet owners.
Robexera (robenacoxib) solution for injection is indicated for the control of pain and inflammation associated with orthopaedic or soft tissue surgery in cats and dogs.
We received marketing authorisations in additional markets for several established products. We were approved Ruboxim*(robenacoxib) chewable tablets indicated for relieving pain and treating inflammation associated with chronic osteoarthritis and soft tissue surgeries in dogs. We also received new marketing authorisations for Otomicol (miconazole/prednisolone/polymyxin) ear drops and cutaneous suspension for dogs, cats, and guinea pigs. Flovuxin (florfenicol/flunixin) solution for injection indicated for the treatment of bacterial respiratory infections in cattle was granted marketing authorisations. Also, we received new approvals for our companion animal products in overseas markets.
Products marketed under different product brand names or the Krka trademark in individual markets are marked with asterisk (*).
InvestmentsIn the first nine months of 2025, the Krka Group allocated €66.7 million to investments, of that €48.0 million to the controlling company.
Upgrades made at the Notol plant (Novo mesto, Slovenia) will ensure reliable operations over the next 20 years. We intend to increase production capacities by installing additional equipment at Notol 2, another production plant in Novo mesto, Slovenia.
We upgraded the production and a filling-and-packaging line at the Solid Dosage Products plant in Novo mesto, Slovenia.
Construction of the extension to Sterile Products Department in Novo mesto, Slovenia, entered into its final phase. We are currently installing a new suspension inspection line to increase the production capacities significantly.
Two multi-purpose buildings are under construction there as well.
We started the construction of a facility at the Bršljin Department in Novo mesto, Slovenia, to increase production capacities. We also expect to boost the capacities for packaging tablets for use in veterinary medicine and spot-on products in the existing facility.
We increased capacities at our site in Ljutomer, Slovenia. We are about to start building an automated high-bay warehouse and expanding the plant.
We finished the construction of the technologically advanced wastewater treatment plant in Krško, Slovenia. We
are still in the process of obtaining the environmental protection and chemical safety (SEVESO) permits.
At the production and distribution centre in Jastrebarsko, Croatia, we are currently increasing production capacities.
We are about to start the extensive refurbishment of the Hotel Vital in Dolenjske Toplice (Slovenia) to improve accommodation for patients. In Slovenia, we refurbished the conference hall in Otočec, while renovation of the swimming pool in Strunjan entered the final phase.
Our joint venture Krka Pharma Private Limited started the construction of production facilities in Hyderabad, India, expected to be ready for use in slightly more than two years. The core businesses of Krka and Laurus Labs Ltd, the co-founders of the joint venture, are complementary. We had made a €11.7-million initial capital contribution to the joint venture by the end of September 2025.
EmployeesAt the end of September 2025, the Krka Group had 13,107 employees on payroll, of whom 5,455 or 42% worked abroad. Total headcount of the Krka Group, including agency workers, tallied 13,139 employees. Overall, 47% held at least a university-level qualification, including 200 employees with a doctoral degree.
Krka Group employees by education
30 Sep 2025 | 31 Dec 2024 | |||
Headcount | % | Headcount | % | |
PhD | 200 | 1.5 | 202 | 1.6 |
Master of science | 391 | 3.0 | 396 | 3.1 |
University degree | 5,629 | 43.0 | 5,435 | 42.4 |
Higher professional education | 2,245 | 17.1 | 2,151 | 16.8 |
Vocational college education | 367 | 2.8 | 379 | 3.0 |
Secondary school education | 3,146 | 24.0 | 3,136 | 24.5 |
Other | 1,129 | 8.6 | 1,111 | 8.6 |
Total | 13,107 | 100.0 | 12,810 | 100.0 |
We continue to attract new talented employees by awarding scholarships. At the end of September, Krka had 61 scholarship holders, primarily pharmacy and chemistry students. We also offer scholarships to exceptional students from other fields of interest to Krka.
Our personnel development and succession planning system ensures that Krka Group employees fill most of our key professional and managerial positions.
We also invest in enhancement and development of their professional skills and expertise. They undergo professional training in their respective specialist areas and participate in training programmes on quality, leadership, information technology, personal development, and foreign languages in Slovenia as well as abroad. We deliver most educational programmes in-house and tailor them to employee needs, technological processes, market situations, and development needs of the Krka Group. We regularly update these programmes and introduce new forms of training adapted to the contemporary work practices.
At the end of September, 140 employees were enrolled in part-time studies co-funded by Krka, 33 of them at the postgraduate level.
Krka is also included in the national vocational qualification (NVQ) system. Between 2004 and the end of September 2025, we awarded 2,189 NVQ certificates to Krka employees for four vocational qualifications. At the end of September 2025, 80 Krka employees were included in the process of obtaining a national vocational qualification.
Encouraging scientific excellence among young people, we awarded prizes to the authors of the best undergraduate and postgraduate research projects for the 55th consecutive year. A total of 54 authors received a Krka Prize, including five who were honoured with the highest accolade - the Grand Krka Prize. Four authors received Special Recognition Prizes for exceptional research work. Additionally, 69 research projects received a Krka Award. Over the past 55 years, we have awarded a total of 3,297 Krka Prizes.
These awards offer a valuable encouragement to young people embarking on scientific and research careers. They also reflect the outstanding work of mentors, whose guidance and motivation play a key role in helping young researchers shape their ideas and present their findings to the scientific community. The awarded projects cover a wide range of topics, with particular emphasis on development of medicines and innovative approaches to treating chronic diseases. Young researchers also demonstrate strong environmental awareness and highlight the importance of sustainable solutions in their work.
CONDENSED CONSOLIDATED FINANCIAL STATEMENTS OF THE KRKA GROUP, WITH NOTES Consolidated statement of financial position of the Krka Group€ thousand | 30 Sep 2025 | 31 Dec 2024 | Index |
Assets | |||
Property, plant and equipment | 824,859 | 806,646 | 102 |
Intangible assets | 99,045 | 100,747 | 98 |
Investments in joint ventures | 10,555 | 2,492 | 424 |
Loans | 24,335 | 35,330 | 69 |
Investments | 21,319 | 22,024 | 97 |
Deferred tax assets | 67,154 | 54,434 | 123 |
Other non-current assets | 1,194 | 1,228 | 97 |
Total non-current assets | 1,048,461 | 1,022,901 | 102 |
Assets held for sale | 41 | 44 | 93 |
Inventories | 657,720 | 638,608 | 103 |
Contract assets | 453 | 672 | 67 |
Trade receivables | 615,658 | 552,710 | 111 |
Other receivables | 29,552 | 28,891 | 102 |
Loans | 15,900 | 10,506 | 151 |
Investments | 229,286 | 249,794 | 92 |
Cash and cash equivalents | 370,551 | 344,895 | 107 |
Total current assets | 1,919,161 | 1,826,120 | 105 |
Total assets | 2,967,622 | 2,849,021 | 104 |
Equity | |||
Share capital | 54,732 | 54,732 | 100 |
Treasury shares | -203,381 | -163,491 | 124 |
Reserves | 212,157 | 136,315 | 156 |
Retained earnings | 2,223,053 | 2,190,627 | 101 |
Total equity attributable to the holders of the controlling company | 2,286,561 | 2,218,183 | 103 |
Non-controlling interests | 18,484 | 19,601 | 94 |
Total equity | 2,305,045 | 2,237,784 | 103 |
Liabilities | |||
Provisions | 140,807 | 136,895 | 103 |
Deferred income | 5,436 | 5,654 | 96 |
Lease liabilities | 14,690 | 9,502 | 155 |
Deferred tax liabilities | 10,449 | 10,611 | 98 |
Total non-current liabilities | 171,382 | 162,662 | 105 |
Trade payables | 149,281 | 148,285 | 101 |
Lease liabilities | 4,354 | 3,649 | 119 |
Income tax payables | 35,432 | 24,379 | 145 |
Contract liabilities | 183,603 | 166,078 | 111 |
Other current liabilities | 118,525 | 106,184 | 112 |
Total current liabilities | 491,195 | 448,575 | 110 |
Total liabilities | 662,577 | 611,237 | 108 |
Total equity and liabilities | 2,967,622 | 2,849,021 | 104 |
€ thousand | Jan-Sep 2025 | Jan-Sep 2024 | Index |
Revenue | 1,534,028 | 1,434,662 | 107 |
- Revenue from contracts with customers | 1,531,187 | 1,432,117 | 107 |
- Other revenue | 2,841 | 2,545 | 112 |
Cost of goods sold | -649,176 | -615,339 | 105 |
Gross profit | 884,852 | 819,323 | 108 |
Other operating income | 5,386 | 5,090 | 106 |
Selling and distribution expenses | -288,986 | -268,961 | 107 |
- Whereof net impairments and write-offs of receivables | -2,357 | 676 | |
R&D expenses | -143,733 | -136,364 | 105 |
General and administrative expenses | -90,365 | -86,479 | 104 |
Operating profit | 367,154 | 332,609 | 110 |
Financial income | 47,020 | 20,538 | 229 |
Financial expenses | -18,721 | -15,816 | 118 |
Net financial result | 28,299 | 4,722 | 599 |
Profit before tax | 395,453 | 337,331 | 117 |
Income tax expense | -71,799 | -56,304 | 128 |
Net profit | 323,654 | 281,027 | 115 |
Attributable to: | |||
- Equity holders of the controlling company | 322,927 | 281,116 | 115 |
- Non-controlling interests | 727 | -89 | |
Basic earnings per share (€)* | 10.56 | 9.13 | 116 |
Diluted earnings per share (€)** | 10.56 | 9.13 | 116 |
* Net profit/Average number of shares issued in the period, excluding treasury shares
** All shares issued by the controlling company are ordinary shares, hence the diluted earnings per share ratio equalled basic earnings per share.
Consolidated statement of other comprehensive income of the Krka Group€ thousand | Jan-Sep 2025 | Jan-Sep 2024 | Index |
Net profit | 323,654 | 281,027 | 115 |
Other comprehensive income for the period | |||
Other comprehensive income reclassified to profit or loss at a future date | |||
Translation reserve | 34,658 | -7,998 | |
Net other comprehensive income reclassified to profit or loss at a future date | 34,658 | -7,998 | |
Other comprehensive income that will not be reclassified to profit or loss at a future date | |||
Change in fair value of financial assets | -705 | -4,011 | 18 |
Deferred tax effect | 155 | 882 | 18 |
Net other comprehensive income that will not be reclassified to profit or loss at a future date | -550 | -3,129 | 18 |
Total other comprehensive income for the period (net of tax) | 34,108 | -11,127 | |
Total comprehensive income for the period (net of tax) | 357,762 | 269,900 | 133 |
Attributable to: | |||
- Equity holders of the controlling company | 358,879 | 269,989 | 133 |
- Non-controlling interests | -1,117 | -89 | 1,255 |
Consolidated statement of changes in equity of the Krka Group
€ thousand | Share capital | Treasury shares | Reserves | Retained earnings | Total equity attributable to the holders of the controlling company | Non-controlling interests | Total equity | |||||||
Reserves for treasury shares | Share premium | Legal reserves | Statutory reserves | Fair value reserve | Translation reserve | Other profit reserves | Retained earnings from previous periods | Profit for the period | ||||||
Balance at 1 Jan 2025 | 54,732 | -163,491 | 163,491 | 105,897 | 14,990 | 30,000 | -11,362 | -166,701 | 1,620,098 | 238,545 | 331,984 | 2,218,183 | 19,601 | 2,237,784 |
Net profit | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 322,927 | 322,927 | 727 | 323,654 |
Total other comprehensive income for the period (net of tax) | 0 | 0 | 0 | 0 | 0 | 0 | -549 | 36,501 | 0 | 0 | 0 | 35,952 | -1,844 | 34,108 |
Total comprehensive income for the period (net of tax) | 0 | 0 | 0 | 0 | 0 | 0 | -549 | 36,501 | 0 | 0 | 322,927 | 358,879 | -1,117 | 357,762 |
Transactions with owners, recognised in equity | ||||||||||||||
Formation of other profit reserves under the resolution of the AGM | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 59,053 | -59,053 | 0 | 0 | 0 | 0 |
Transfer of previous periods' profit to retained earnings | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 331,984 | -331,984 | 0 | 0 | 0 |
Repurchase of treasury shares | 0 | -39,890 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -39,890 | 0 | -39,890 |
Formation of reserves for treasury shares | 0 | 0 | 39,890 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -39,890 | 0 | 0 | 0 |
Dividends paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -250,611 | 0 | -250,611 | 0 | -250,611 |
Total transactions with owners, recognised in equity | 0 | -39,890 | 39,890 | 0 | 0 | 0 | 0 | 0 | 59,053 | 22,320 | -371,874 | -290,501 | 0 | -290,501 |
Balance at 30 Sep 2025 | 54,732 | -203,381 | 203,381 | 105,897 | 14,990 | 30,000 | -11,911 | -130,200 | 1,679,151 | 260,865 | 283,037 | 2,286,561 | 18,484 | 2,305,045 |
€ thousand | Share capital | Treasury shares | Reserves | Retained earnings | Total equity attributable to the holders of the controlling company | Non-controlling interests | Total equity | |||||||
Reserves for treasury shares | Share premium | Legal reserves | Statutory reserves | Fair value reserve | Translation reserve | Other profit reserves | Retained earnings from previous periods | Profit for the period | ||||||
Balance at 1 Jan 2024 | 54,732 | -138,489 | 138,489 | 105,897 | 14,990 | 30,000 | -511 | -134,370 | 1,544,595 | 246,699 | 300,023 | 2,162,055 | 19,711 | 2,181,766 |
Net profit | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 281,116 | 281,116 | -89 | 281,027 |
Total other comprehensive income for the period (net of tax) | 0 | 0 | 0 | 0 | 0 | 0 | -3,122 | -8,005 | 0 | 0 | 0 | -11,127 | 0 | -11,127 |
Total comprehensive income for the period (net of tax) | 0 | 0 | 0 | 0 | 0 | 0 | -3,122 | -8,005 | 0 | 0 | 281,116 | 269,989 | -89 | 269,900 |
Transactions with owners, recognised in equity | ||||||||||||||
Formation of other profit reserves under the resolution of the AGM | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 75,503 | -75,503 | 0 | 0 | 0 | 0 |
Transfer of previous periods' profit to retained earnings | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 300,023 | -300,023 | 0 | 0 | 0 |
Repurchase of treasury shares | 0 | -16,632 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -16,632 | 0 | -16,632 |
Formation of reserves for treasury shares | 0 | 0 | 16,632 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -16,632 | 0 | 0 | 0 |
Dividends paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -230,933 | 0 | -230,933 | 0 | -230,933 |
Total transactions with owners, recognised in equity | 0 | -16,632 | 16,632 | 0 | 0 | 0 | 0 | 0 | 75,503 | -6,413 | -316,655 | -247,565 | 0 | -247,565 |
Balance at 30 Sep 2024 | 54,732 | -155,121 | 155,121 | 105,897 | 14,990 | 30,000 | -3,633 | -142,375 | 1,620,098 | 240,286 | 264,484 | 2,184,479 | 19,622 | 2,204,101 |
Consolidated statement of cash flows of the Krka Group
Segment reporting of the Krka Group
€ thousand | European Union | South-Eastern Europe | Eastern Europe | Total segment reporting | Other | Eliminations | Total | |||||||
Jan-Sep 2025 | Jan-Sep 2024 | Jan-Sep 2025 | Jan-Sep 2024 | Jan-Sep 2025 | Jan-Sep 2024 | Jan-Sep 2025 | Jan-Sep 2024 | Jan-Sep 2025 | Jan-Sep 2024 | Jan-Sep 2025 | Jan-Sep 2024 | Jan-Sep 2025 | Jan-Sep 2024 | |
Revenue from sales to non-group customers | 827,176 | 777,017 | 91,679 | 82,479 | 533,792 | 484,429 | 1,452,647 | 1,343,925 | 81,381 | 90,737 | 1,534,028 | 1,434,662 | ||
Revenue from sales to intra-group customers | 335,822 | 310,404 | 56,569 | 52,094 | 549,759 | 501,738 | 942,150 | 864,236 | 15,139 | 19,346 | -957,289 | -883,582 | 0 | 0 |
Total revenue | 1,162,998 | 1,087,421 | 148,248 | 134,573 | 1,083,551 | 986,167 | 2,394,797 | 2,208,161 | 96,520 | 110,083 | -957,289 | -883,582 | 1,534,028 | 1,434,662 |
Other operating income | 3,222 | 4,126 | 24 | 30 | 688 | 493 | 3,934 | 4,649 | 1,452 | 441 | 5,386 | 5,090 | ||
Operating expenses | -689,280 | -654,843 | -60,545 | -56,176 | -359,991 | -325,200 | -1,109,816 | -1,036,219 | -62,444 | -70,924 | -1,172,260 | -1,107,143 | ||
Intra-group operating expenses, including elimination of profits | -335,822 | -310,404 | -56,569 | -52,094 | -549,759 | -501,738 | -942,150 | -864,236 | -15,139 | -19,346 | 957,289 | 883,582 | 0 | 0 |
Operating profit | 141,118 | 126,300 | 31,158 | 26,333 | 174,489 | 159,722 | 346,765 | 312,355 | 20,389 | 20,254 | 0 | 0 | 367,154 | 332,609 |
Interest income | 7,025 | 9,189 | 1 | 1 | 1,087 | 773 | 8,113 | 9,963 | 759 | 920 | 8,872 | 10,883 | ||
Intra-group interest income | 1,600 | 3,557 | 0 | 0 | 0 | 0 | 1,600 | 3,557 | 0 | 0 | -1,600 | -3,557 | 0 | 0 |
Interest expense | -277 | -98 | -9 | -9 | -187 | -170 | -473 | -277 | -9 | -16 | -482 | -293 | ||
Intra-group interest expense | -1,600 | -3,557 | 0 | 0 | 0 | 0 | -1,600 | -3,557 | 0 | 0 | 1,600 | 3,557 | 0 | 0 |
Net financial result | 6,783 | 14,925 | -448 | -158 | 25,816 | -10,113 | 32,151 | 4,654 | -3,852 | 68 | 28,299 | 4,722 | ||
Income tax expense | -30,257 | -23,694 | -6,115 | -4,168 | -32,690 | -25,347 | -69,062 | -53,209 | -2,737 | -3,095 | -71,799 | -56,304 | ||
Net profit | 117,644 | 117,531 | 24,595 | 22,007 | 167,615 | 124,262 | 309,854 | 263,800 | 13,800 | 17,227 | 0 | 0 | 323,654 | 281,027 |
Investments | 60,987 | 85,678 | 411 | 483 | 4,768 | 4,431 | 66,166 | 90,592 | 576 | 1,111 | 66,742 | 91,703 | ||
Depreciation of property, plant and equipment | 42,149 | 42,891 | 1,607 | 1,503 | 15,582 | 14,533 | 59,338 | 58,927 | 2,331 | 2,199 | 61,669 | 61,126 | ||
Depreciation of right-of-use assets | 2,576 | 2,302 | 106 | 93 | 517 | 419 | 3,199 | 2,814 | 70 | 61 | 3,269 | 2,875 | ||
Amortisation of intangible assets | 2,864 | 3,118 | 236 | 258 | 1,363 | 1,520 | 4,463 | 4,896 | 179 | 242 | 4,642 | 5,138 | ||
30 Sep 2025 | 31 Dec 2024 | 30 Sep 2025 | 31 Dec 2024 | 30 Sep 2025 | 31 Dec 2024 | 30 Sep 2025 | 31 Dec 2024 | 30 Sep 2025 | 31 Dec 2024 | 30 Sep 2025 | 31 Dec 2024 | 30 Sep 2025 | 31 Dec 2024 | |
Total assets | 2,105,258 | 2,078,751 | 85,913 | 76,528 | 664,085 | 577,157 | 2,855,256 | 2,732,436 | 112,366 | 116,585 | 2,967,622 | 2,849,021 | ||
Non-current assets exclusive of deferred tax assets | 859,633 | 854,447 | 6,536 | 6,336 | 87,140 | 74,061 | 953,309 | 934,844 | 27,998 | 33,623 | 981,307 | 968,467 | ||
Total liabilities | 428,148 | 410,885 | 24,245 | 19,913 | 169,059 | 138,560 | 621,452 | 569,358 | 41,125 | 41,879 | 662,577 | 611,237 | ||
The Krka Group reports revenue by specific geographic areas in which customers operate. The data are calculated based on revenue and expenses, as well as the assets and liabilities associated with each individual market of the Krka Group. Eliminations refer to business transactions between the controlling company and its subsidiaries, as well as those between subsidiaries.
Notes to consolidated financial statements of the Krka GroupCosts by nature €1,172,260 thousand
€ thousand | Jan-Sep 2025 | Jan-Sep 2024 | Index |
Cost of goods and materials | 403,186 | 382,140 | 106 |
Cost of services | 187,507 | 206,069 | 91 |
Employee benefit expenses | 469,202 | 410,873 | 114 |
Amortisation and depreciation | 69,580 | 69,139 | 101 |
Net write-offs and allowances for inventories | 12,263 | 12,413 | 99 |
Net impairments and write-offs of receivables | 2,357 | -676 | |
Other operating expenses | 32,277 | 33,341 | 97 |
Total costs | 1,176,372 | 1,113,299 | 106 |
Change in the value of inventories of finished products and work in progress | -4,112 | -6,156 | 67 |
Total | 1,172,260 | 1,107,143 | 106 |
Employee benefits €469,202 thousand
€ thousand | Jan-Sep 2025 | Jan-Sep 2024 | Index |
Gross wages and salaries and continued pay | 362,474 | 319,323 | 114 |
Social security contributions | 25,269 | 21,798 | 116 |
Pension insurance contributions | 50,396 | 44,551 | 113 |
Payroll tax | 649 | 603 | 108 |
Post-employment benefits and other non-current employee benefits | 5,507 | 4,478 | 123 |
Other employee benefit expense | 24,907 | 20,120 | 124 |
Total employee benefits | 469,202 | 410,873 | 114 |
Other operating expenses €32,277 thousand
€ thousand | Jan-Sep 2025 | Jan-Sep 2024 | Index |
Grants and assistance for humanitarian and other purposes | 1,593 | 1,593 | 100 |
Environmental protection expenditures | 4,508 | 6,159 | 73 |
Other taxes and levies | 21,352 | 19,520 | 109 |
Loss on sale and write-offs of property, plant and equipment and intangible assets | 1,138 | 1,772 | 64 |
Other operating expenses | 3,686 | 4,297 | 86 |
Total other operating expenses | 32,277 | 33,341 | 97 |
Other levies include various taxes and levies on pharmaceuticals and fees paid to medical representatives in individual countries for pursuing promotional activities.
€ thousand | Jan-Sep 2025 | Jan-Sep 2024 | Index |
Net foreign exchange gains | 33,992 | 0 | |
Interest income | 8,872 | 10,883 | 82 |
Derivative income | 49 | 1,719 | 3 |
- Realised revenue | 49 | 1,719 | 3 |
Income from other financial instruments | 4,021 | 7,145 | 56 |
- Realised revenue | 5,878 | 9,682 | 61 |
- Change in fair value | -1,857 | -2,537 | 73 |
Income from dividends | 44 | 760 | 6 |
Share of profit from equity-accounted investments | 39 | 0 | |
Other financial income | 3 | 31 | 10 |
Total financial income | 47,020 | 20,538 | 229 |
Net foreign exchange losses | 0 | -6,641 | 0 |
Interest expense | -482 | -293 | 165 |
- Interest paid | -4 | 62 | |
- Interest expense on lease liabilities | -478 | -355 | 135 |
Derivative expenses | -8,777 | -2,331 | 377 |
- Realised expenses | -2,504 | -1,584 | 158 |
- Change in fair value | -6,273 | -747 | 840 |
Other financial expenses | -9,462 | -6,551 | 144 |
Total financial expenses | -18,721 | -15,816 | 118 |
Net financial result | 28,299 | 4,722 | 599 |
Income tax expense €71,799 thousand
Current income tax amounted to €80,742 thousand or 20.4% of profit before tax. Taking into account deferred tax of -€9,096 thousand and other income-based taxes of €153 thousand, the tax expensed in the income statement totalled €71,799 thousand. The effective tax rate was 18.2%.
Property, plant and equipment €824,859 thousand
€ thousand | 30 Sep 2025 | 31 Dec 2024 | Index |
Land | 65,817 | 65,317 | 101 |
Buildings | 336,184 | 334,182 | 101 |
Equipment | 308,877 | 317,045 | 97 |
Property, plant and equipment being acquired | 95,375 | 77,460 | 123 |
Right-of-use assets | 18,606 | 12,642 | 147 |
Total property, plant and equipment | 824,859 | 806,646 | 102 |
The value of property, plant, and equipment accounted for 28% of the Krka Group balance sheet total. See the
'Investments' section in the business report for details on major investments of Krka.
Intangible assets €99,045 thousand
€ thousand | 30 Sep 2025 | 31 Dec 2024 | Index |
Goodwill | 42,644 | 42,644 | 100 |
Trademark | 31,652 | 32,305 | 98 |
Concessions, trademarks and licences | 15,494 | 15,795 | 98 |
Other intangible assets | 5,954 | 7,741 | 77 |
- Long-term deferred operating costs | 138 | 185 | 75 |
- Development-related projects | 3,792 | 4,389 | 86 |
- Emission coupons | 2,024 | 3,167 | 64 |
Intangible assets being acquired | 3,301 | 2,262 | 146 |
Total intangible assets | 99,045 | 100,747 | 98 |
Loans €40,235 thousand
€ thousand | 30 Sep 2025 | 31 Dec 2024 | Index |
Non-current loans | 24,335 | 35,330 | 69 |
- Loans to others | 24,335 | 35,330 | 69 |
Current loans | 15,900 | 10,506 | 151 |
- Portion of non-current loans maturing next year | 9,652 | 9,970 | 97 |
- Loans to others | 4,563 | 20 | 22,815 |
- Deposits granted to banks | 1 | 2 | 50 |
- Current interest receivable | 1,684 | 514 | 328 |
Total loans | 40,235 | 45,836 | 88 |
Investments €250,605 thousand
€ thousand | 30 Sep 2025 | 31 Dec 2024 | Index |
Non-current investments | 21,319 | 22,024 | 97 |
- Investments at fair value through OCI (equity instruments) | 21,319 | 22,024 | 97 |
Current investments including derivatives | 229,286 | 249,794 | 92 |
- Investments at fair value through profit or loss | 229,286 | 224,110 | 102 |
- Investments at amortised cost (debt instruments) | 0 | 20,231 | 0 |
- Derivatives | 0 | 5,453 | 0 |
Total investments | 250,605 | 271,818 | 92 |
Investments at fair value through OCI comprised €1,517 thousand of investments in shares and interests in companies in Slovenia (end of 2024: €1,137 thousand), and €19,802 thousand of investments in shares and interests in companies outside Slovenia (end of 2024: €20,887 thousand).
The increase in investments at fair value through profit or loss of €5,176 thousand included acquisitions of treasury bills of €396,156 thousand, disposals of treasury bills due to their maturity of €395,001 thousand, realised financial income from disposal of treasury bills of €5,878 thousand, and treasury bill revaluation loss of €1,857 thousand.
The decrease in investments at amortised cost of €20,231 thousand occurred due to the maturity of government bonds.
Inventories €657,720 thousand
€ thousand | 30 Sep 2025 | 31 Dec 2024 | Index |
Material | 260,240 | 266,402 | 98 |
Work in progress | 118,044 | 121,520 | 97 |
Finished products | 178,960 | 180,986 | 99 |
Merchandise | 50,340 | 32,783 | 154 |
Advances for inventories | 50,136 | 36,917 | 136 |
Total inventories | 657,720 | 638,608 | 103 |
Trade and other receivables €645,210 thousand
€ thousand | 30 Sep 2025 | 31 Dec 2024 | Index |
Current trade receivables | 615,658 | 552,710 | 111 |
Current receivables due from others | 29,552 | 28,891 | 102 |
Total trade and other receivables | 645,210 | 581,601 | 111 |
€ thousand | 30 Sep 2025 | 31 Dec 2024 | Index |
Cash in hand | 58 | 52 | 112 |
Bank balances | 370,493 | 344,843 | 107 |
Total cash and cash equivalents | 370,551 | 344,895 | 107 |
Bank balances included a deposit of €235,776 thousand with a maturity of up to 90 days (31 December 2024:
€204,438 thousand).
Equity €2,305,045 thousand
€ thousand | 30 Sep 2025 | 31 Dec 2024 | Index |
Share capital | 54,732 | 54,732 | 100 |
Treasury shares | -203,381 | -163,491 | 124 |
Reserves | 212,157 | 136,315 | 156 |
- Reserves for treasury shares | 203,381 | 163,491 | 124 |
- Share premium | 105,897 | 105,897 | 100 |
- Legal reserves | 14,990 | 14,990 | 100 |
- Statutory reserves | 30,000 | 30,000 | 100 |
- Fair value reserve | -11,911 | -11,362 | 105 |
- Translation reserve | -130,200 | -166,701 | 78 |
Retained earnings | 2,223,053 | 2,190,627 | 101 |
Total equity attributable to the holders of the controlling company | 2,286,561 | 2,218,183 | 103 |
Non-controlling interests | 18,484 | 19,601 | 94 |
Total equity | 2,305,045 | 2,237,784 | 103 |
Provisions €140,807 thousand
€ thousand | 30 Sep 2025 | 31 Dec 2024 | Index |
Provisions for lawsuits | 7,559 | 7,598 | 99 |
Provisions for post-employment benefits | 110,639 | 107,900 | 103 |
Provisions for other non-current employee benefits | 22,113 | 20,865 | 106 |
Other provisions | 496 | 532 | 93 |
Total provisions | 140,807 | 136,895 | 103 |
Deferred income €5,436 thousand
€ thousand | 30 Sep 2025 | 31 Dec 2024 | Index |
Grants received from the European Regional Development Fund and budget of the Republic of Slovenia intended for the production of pharmaceuticals in the new Notol 2 plant | 533 | 572 | 93 |
Grants received from the budget for the Dolenjske and Šmarješke Toplice health resorts and Golf Grad Otočec | 3,009 | 3,059 | 98 |
Grants received from the European Regional Development Fund (Farma GRS) | 1,283 | 1,407 | 91 |
Subsidy for acquisition of electric drive vehicles | 1 | 1 | 100 |
Property, plant and equipment received free of charge | 7 | 17 | 41 |
Emission coupons | 10 | 10 | 100 |
Subsidy for purchase of joinery | 87 | 88 | 99 |
Subsidy for upgrading trucks | 36 | 6 | 600 |
Subsidy for electricity production from renewable energy installations | 470 | 494 | 95 |
Total deferred income | 5,436 | 5,654 | 96 |