JGL Achieved 18 Percent Higher Revenues in 2023, Doubled Them in Five Years

The final, unaudited results of JGL Group exceeded plans, with total business revenue for 2023 amounting to 214.2 million euros, representing an 18 percent increase compared to the previous year, and revenues have doubled in just five years, reported Jadran Galenski Laboratorij on Thursday.

They emphasize that the Group’s operational profitability (EBITDA) grew faster than revenues last year, by 28 percent, resulting in an EBITDA margin for the JGL Group reaching nearly 20 percent.

The growth rates of the pharmaceutical segment (JGL Pharma) are one percentage point higher than the Group, with achieved business revenue amounting to 180 million euros.

JGL highlights that the reason for such strong growth is the continuation of excellent sales indicators for almost all key brands. Vizol S, Meralys, Aknekutan, Prolife, and Dramina achieved double-digit sales growth, reducing Aqua Maris’s share in total sales to below one quarter.

Sales data for 2023 show that, after years of success in the key therapeutic group ‘Flu and Cold’, products from the other two strategic therapeutic groups, ‘Dermatology’ and ‘Ophthalmology’, are equally significant in revenue, which, they say, balances the portfolio and reduces the risk of seasonal disruptions.

JGL’s CEO Mislav Vučić assessed that JGL’s business results are excellent. We exceeded 200 million euros in revenue and confirmed our status as the largest pharmaceutical company in domestic ownership, he stated, adding that the rapid growth is also reflected in the fact that we have doubled our business from 2018 to today.

He emphasizes that this success is the result of the immense motivation and expertise of the people in the company, who have particularly excelled under the existing extreme conditions.

JGL reminds that last year the INTEGRA project was completed, an investment worth 53 million euros, which increased the company’s equipment and capacities and creates conditions for further growth.

Although the investment increased production and storage capacities and new laboratories for research and development and quality control were built, due to excellent business results, the overall indebtedness of the company continued to decline, Vučić said, adding that this opens up space for new investments.

The Chairman of the JGL Management Board, Ivo Usmiani, stated that the achieved success is the result of systematic building of the company’s overall operations, both in the parent company and in the markets, with a team of 1,271 employees, and that people are the greatest value of the company.