Despite the five-year stagnation affecting the Croatian economy, for the pharmaceutical company JGL d.d., this has been a period of growth, export, investment and employment. During five years of crisis, the company revenue doubled. Owing to successful business activities and results achieved in 2013, JGL has become the second largest pharmaceutical company in Croatia, making another symbolic step on the ladder of growth. By implementing the development strategy for new products and expanding to new markets, the overall consolidated revenue of the JGL Group has risen from HRK 1.5 million in 1991 to HRK 877 million in 2013.
After a very successful 2012, marked by a strong growth rate in foreign markets and an investment cycle in production facilities and equipment, last year saw further growth of business results, especially a 16% export growth. It is export and business internationalisation that are crucial strategic elements for the company’s success.
In 2013, the total revenue of JGL d.d. (core business) grew by 11% and amounted to HRK 685 million, including HRK 510 million realised in export markets. As far as total revenue is concerned, export constituted as much as 77%. The most significant sales results were achieved in the CIS region, primarily on the Russian market (24% growth), and the Global Markets region (22% growth).
Last year marked a record in net income in the amount of HRK 72 million. As the second largest market for the company, the Croatian market realised a 99% sales level in relation to the previous year, indicating a further stagnation and recession on the domestic front. At the end of 2013, employee count was 660, with 58 additional persons employed in the previous year.
As stated by JGL, the excellent results are owing to teamwork and dedication, continuous investment in development of innovative products, stronger establishment of existing brands such as Aqua Maris, Meralys, Pigrel, Ranix, Escontral, Latanox, Vitalia, Holyplant and Lactogyn, as well as expansion of the sales network.
In this context, JGL takes particular pride in the fact that its drugs have been registered for the USA market, seeing as it is the world’s largest pharmaceutical market and strictly regulated at that. During 2013, JGL North America LLC started distributing and selling products on the American market. Furthermore, it is also noteworthy that 2013 saw the first export of the Aqua Maris line of products on the neighbouring Italian market, through its partner company Bruno Farmaceutici.
The reporting period also included a continuation of a series of JGL investment projects. The most important one is certainly the 45 million euro worth “Pharma Valley”, which will bring significant development, production and storage capacities, as well as crucial resources for the realisation of the planned sustainable, profitable growth in the following ten years and beyond.